May 04, 2016

In the 1 quarter 2016, BOURBON adjusted revenues reached €314.5 million (-5.9% compared with 4 quarter 2015), illustrating the strong resilience in a market that is still declining

  • Good resistance for the revenues of BOURBON in a market still with significant decline in activity, but with an oil price that is recovering

2014

2015

2016

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Adjusted revenues (in € millions)

361,7

388,5

383,6

375,2

344,1

334,2

314,5

Sequential change

-

7,4 %

-1,3 %

-2,2 %

-8,3 %

-2,9 %

-5,9 %

Year on year change

-

17,2 % 15,2 % 11,0 %

-4,9 %

-14,0 %

-18,0 %

Average utilization rate (%)

79,4 %

81,7 % 79,1 % 77,1 %

73,7 %

72,1 %

69,5 %

Average daily rate (in US$/d)

12 604

12 429 12 169 11 558

11 167

10 781

10 324

Average exchange rate €/US$ (in €) 1,33 1,25 1,13 1,11

1,11

1,10

1,10

  • BOURBON is the company within the offshore oil services industry that is best resisting the drop in the market
  • BOURBON's good resilience originates from the clients' preferences, which is reflected in the average utilization rate of the fleet

'In a market where prices are imposed uponeveryone, BOURBON is focusing on what it can control: safety, fleet availability, cost control and cash preservation by a proactive policy to stack vessels if necessary'says Christian Lefèvre, Chief Executive Officer of BOURBON. 'The group is impacted by the market decline with less intensity and time lag. BOURBON is putting everything in place to be the first one ready for the resumption of activity when it will happen, reducing costs and anticipating the evolution of the clients' needs vis-à-vis vessels with, as a new paradigm, the digital revolution.'

(a) Adjusted data:

The adjusted financial information is presented by Activity and by Segment based on the internal reporting system and shows internal segment information used by the principal operating decision maker to manage and measure the performance of BOURBON (IFRS 8). As of January 1, 2015, the internal reporting (and thus the adjusted financial information) records the performance of operational joint ventures on which the group has joint control using the full integration method. Adjusted comparative figures are restated accordingly.

Bourbon SA published this content on 04 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 May 2016 04:58:02 UTC.

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