Source: ATSB, photo by ABIS Chris Beerens, RAN. Q1 trading update Den Haag, 29 April 2015
Overall improved margin but decreasing backlog reflecting challenging oil and gas market Y-o-y revenue decline of 2.1% on currency comparable basis EBIT margin improved compared to relatively weak Q1 2014 Seabed Geosolutions…
Cost reduction and performance improvement measures stepped up On track Headcount reduction program on schedule, with net reduction of around 300 employees Fleet reductions progressing as planned Capex curtailment progressing as per…
Geotechnical division: flat revenue onshore, decrease offshore Onshore revenue: positive development in 186.0 emerging markets 168.9 65.9 Onshore margin: YoY decrease due to set- backs on some of the larger projects Offshore…
Survey division: revenue decline reflects oil and gas market Lower oil and gas related revenue 195.8 geophysical surveys 190.3 construction support Metocean Compensating revenue growth non-oil & gas, eg hydrography and cable…
Subsea Services: continued revenue growth Continuation of strong construction support and 127.6 installation work in Europe 108.2 YoY margin improved due to higher vessel utilisation Europe and Africa Planned headcount decrease…
Geoscience division: strong improved performance Seabed Seabed Geosolutions 90.4 4.0 Revenue almost doubled: good utilisation and strong performance SW & OBC business OBN crew in Brazil started after 62.6 permitting delay Small…
Outlook 2015: low visibility in challenging market We expect the oil and gas market to remain challenging for some period of time Cost reduction measures have been stepped up further Strong capex curtailment Strong cash flow…
Source: ATSB, photo by ABIS Chris Beerens, RAN. Q&A
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