Blom : A CHALLENGING YEAR The company posted revenues from continuing operations of NOK 106 million for the 4th quarter, compared with NOK 141 million for the same quarter in 2010. EBITDA for the quarter...
The company posted revenues from continuing
operations of NOK 106 million for the
4thquarter, compared with NOK 141
million for the same quarter in 2010. EBITDA for the
quarter was NOK -38 million, compared with NOK -76 million
for the corresponding quarter in 2010. This corresponds to
an EBITDA margin of -35.9 per cent, compared with -54.1 per
cent for the 4thquarter of 2010.
The operating profit for the quarter was NOK -176 million,
compared with NOK -393 million for the same period in 2010.
Goodwill write-downs of NOK 126 million were charged
against the operating profit. Provisions for potential
losses on trade receivables and inventory write-downs
totalling NOK 32 million were also charged against the
operating profit. Profit for the divested
business in Denmark is netted under "Discontinued
operations" on a separate line in the
statement.
The operating revenues for the respective segments
were NOK 96 million for Geo Engineering and NOK 10 million
for Information Services in the 4th quarter. The
comparative figures for the
4thquarter of 2010 were NOK 122
million for Geo Engineering and NOK 19 million for
Information Services.
The company's revenues for 2011
totalled NOK 437 million, compared with NOK 570 million in
2010. EBITDA for 2011 was NOK -33 million, compared with
NOK -35 million in 2010. This corresponds to an EBITDA
margin of -7.5 per cent for 2011, compared with -6.2 per
cent in 2010.
The operating revenues for the
respective segments totalled NOK 381 million for Geo
Engineering and NOK 56 million for Information Services in
2011. The comparative figures for 2010 were NOK 457 million
for Geo Engineering and NOK 113 million for Information
Services.
The last quarter of the year has also
been marked by continued weak macroeconomic factors in many
of the markets where Blom operates. Public sector
customers, particularly in certain Southern European
countries, showed a significant decline in demand. Northern
Europe was marked by a challenging operating environment,
which prevented firm orders from being delivered to the
customer until 2012.
Financial restructuring.
The company's equity has been lost due to the
weak financial results in 2011. The Board of Directors has
assessed and is assessing measures to improve the debt to
equity ratio. Since the third quarter there have been
on-going discussions with a majority of the bondholders to
find a more long-term solution for the company's debt
structure. The parties are seeking jointly to
establisha long-term sustainable capital
structure for the company.
For further information please contact
the CEO, Dirk Blaauw, on tel. +47 22 13 19 20
or CFO Lars Bakklund on tel. +47 22 13 19 34.
Blom ASA presented the report for 4th quarter 2011
today.www.newsweb.no
NRC Group ASA is a Norway-based infrastructure company. The Company offers a complete set of services for transport-related infrastructure in prioritised markets such as rail, light rail and civil engineering. The service offering includes groundwork, specialised trackwork, electro, signalling systems, demolition, recycling, wastewater, sewage services and mass transport. The Companyâs activities are divided into three geographical segments: Norway, Sweden and Finland. NRC Group Norway is responsible for operations in Norway, where are three operating divisions: Rail construction, Civil construction and Environment. NRC Group Sweden is responsible for operations in Sweden and has hree operating divisions: Rail construction, Rail maintenance and Civil construction. NRC Group Finland is responsible for operations in Finland and has three operating divisions: Rail construction, Rail maintenance and Materials.
Blom : A CHALLENGING YEAR The company posted revenues from continuing operations of NOK 106 million for the 4th quarter, compared with NOK 141 million for the same quarter in 2010. EBITDA for the quarter...