BOURBON revenues increase

BOURBON announced first quarter 2014 financial results where the Company confirms its objective of 8-10% growth in revenues for 2014 with a slight increase in the EBITDAR/revenue margin.

BOURBON 2014 1st quarter revenues were €320.0 million
, an increase of 7.9% at constant exchange rates (2.9% at current rates).

Quarterly revenues rose 7.9% (at constant rates) partly due to a 7.1% increase in the size of the fleet. 1st quarter activities were impacted sequentially by seasonal effects in the North Sea and in South East Asia.

The fleet utilization rate excluding Crewboats was over 90%, helped by stronger activity in the shallow market in West Africa.

Average daily rates stable overall, with a strong increase in Subsea Services (+12.4%) and smaller increases in the Deepwater and Crewboat segments, partly due to vessel mix and geographic effects.

Foreign exchange rate movements continued to have an impact on revenues, partly offsetting the addition of new vessels in some segments and improvements in average daily rates and utilization rates in others.

“Sequentially, the first quarter saw a contrast in results between different segments, with satisfactory performance in shallow water and weaker performance in Deepwater and Crewboats. In Subsea, activity was supported by a utilization rate of more than 94%,” says Christian Lefèvre, Chief Executive Officer of BOURBON.

“Sequential revenues were impacted by seasonal effects while year on year results were impacted by foreign exchange rate movements. The trend in average daily rates is still positive and we anticipate an increase in activity for the rest of 2014.”

Complete version of Bourbon’s financial report can be found here.

April 30, 2014

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply