Oceanteam ASA reports full year 2018 results


OTS. WOW dette var super bra..helt nytt OTS og tjener penger med fullbokket bok fremover. Her kan det bli liv i leieren gitt:)

Oceanteam ASA reports full year 2018 results
Oceanteam is pleased to present its 2018 annual financial report. 2018 was a good year for Oceanteam, further described in the attached report.

The financial restructuring of the Group has been successfully completed. Equity ratio improved materially to more than 70%. Both vessels were under charter contract for the full year, except for a short yard visit of the CSV Southern Ocean to obtain SPS 2008 notation. The Solutions division saw its business growing in 2018. Together, this led to the following results over 2018:

• EBITDA improved to USD 12.2 million in 2018 versus USD 9.8 million in 2017
• Total operating income increased to USD 25.3 million in 2018 versus USD 24.4 million in 2017
• Operating profit of USD 6.5 million over 2018 compared to a loss of USD (24.1) million in 2017
• Net profit from continuing operations of USD 0.9 million, versus a loss of USD (11.5) million over 2017
• Loss for the period was USD ( 0.1) million, versus a loss of USD (12.0) in 2017

Both book value and the fair market value significantly outweigh the secured debt on the joint venture vessels meaning that the Company is not overleveraged. The Company further only has USD 3.1 million shareholder loans for working capital purposes as debt.

With a new shareholder base, the Company completely renewed the management and Board of Directors, all with a proven track record in the offshore business. Mr. Keesjan Cordia is the Chairman of the Board and also a new shareholder in the Company.

Under this new leadership the Company is now transforming itself into an investment platform for Subsea, Solutions, Shipping and other specialised segments in the offshore oil and gas and offshore wind industry.

Leidus Bosman, CEO of Oceanteam ASA says: “2018 was a turbulent and good year for Oceanteam, setting the fundament for a new chapter for the Company. On most financial metrics substantial improvements have been realised: Operating revenue, operating profit, net profit, EBITDA and equity ratio have all showed satisfactory improvements and better results. Also operationally, the metrics were good with high utilisation and outstanding safety statistics. With strong signals that the oil and gas services industry is finally coming out a deep and long recession with oil companies now planning to take more FIDs of their deep water projects in the coming years, and with an excellent outlook for the offshore wind business now rapidly going “global”, the Board and management team is confident about the future prospects for Oceanteam. It hopes to further grow the business in 2019 and maximise shareholder value from the improved outlook.”

The full report is attached to this press release and available at www.oceanteam.no



About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water construction support vessels and fast support vessels. Oceanteam Solutions is a service provider to the renewable and oil and gas industry with the supply of rental equipment for the transportation, storage and handling of subsea cables. Oceanteam has been active in the industry as an offshore solutions provider for over twelve years.


For more information: www.oceanteam.no

For further information please contact:
Leidus Bosman
CEO Oceanteam ASA
T +31 20 535 75 70
leidus@oceanteam.nl
27.04.2019 kl 11:44 2726

Rapporten meget bra innvesttech har også kjøp på denne nå,noen som vet hvor mange frie aksjer de er utenom topp10 ?

Gleder meg til halvårs rapporten allerede ?
27.04.2019 kl 10:11 2790

Retningen er opp! Prøver å hamstre aksjer på mandag hvis de ikke tar helt av.

Det ble flott å se på at Ots våknet opp fra de døde. For en fantastisk årsrapport. Spennende å se hvor mye det klatre opp neste uka. Tipper den lander rundt 0,6-0,7 på kort tid. Hva tror dere?
26.04.2019 kl 20:02 3005

Fin oppgang i dag fikk 70% på noen timer forrige gang den tok av rapporten tilsier vel at de er mulighet om videre oppgang her fremover.
Redigert 27.04.2019 kl 11:45 Du må logge inn for å svare
26.04.2019 kl 17:47 3089

Enig, obligasjonseierne solgte den ned i dass. Ned 25 prosent:(

når skal denne gå over 50 øre?

Ser ut til at selgerne har poppet opp av jorden nå. Kursen er redusert kraftig etter den gode starten. Vi får vel be obligasjonseierne som fikk aksjer, holde litt igjen slik at oppturen vedvarer. Stikkordet i dag til de som fikk omgjort obligasjoner til aksjer er. Ro Dere Ned.
26.04.2019 kl 10:19 3453

Nå tipper jeg at den dobler seg i dag. Ingen selgere og skuta er snudd. Lykke til. God helg. Drar på ferie nå:)
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26.04.2019 kl 09:52 3510

Ja, oppløftende rapport i dag. Pensjonen, jeg har det som deg, alt for høy inngang, men heldigvis en våken megler som gjorde meg oppmerksom på misforholdet en periode mellom gamle og nye aksjer hvor jeg fikk tilnærmet triplet antallet. Likevel er det en del til tapet er innhentet. Men nå utelukker jeg ikke at det kan skje. Med økt aktivitet og omtrent ikke gjeld kan dette bli riktig så bra over tid.
26.04.2019 kl 09:30 3575

Har jo brukt å gå noe voldsomt når den går, og dibble seg tredobbel seg. Nå har den ivertfall god grunn til akkurat det!
26.04.2019 kl 09:26 3586

Kantarell skrev On fire!!!
Skal høyt i dag:) oppløftende rapport

Nå er vi på rett vei. Har holdt på denne og håpet at noen ville klare å få selskapet på rett kjøl. Skal mye opp før mine aksjer har hentet seg inn. Det er håp i hengende snøre.

Nå blir det fredagspils ;)