• 2018 July 18 18:31

    Naval Group posts H1 2018 performance results

    Naval Group’s General Management Committee met on 17 July 2018 to examine the accounts of the 1st half of 2018, closed on 30 June.
    Commenting these results, Frank Le Rebeller, Executive Vice President Finance, Legal and Purchasing, indicated in particular: “The results for the first half of 2018 (in accordance with IFRS standards and more specifically the IRFS15 standard) show an increase in our sales and an improvement, as foreseen, of our profitability. They demonstrate the success of our progress plan and confirm the improvement of our operational control. Several major milestones in the French and international programmes have been successfully achieved, in particular the launch of the FREMM Normandie frigate, the continuation of the launch campaign for the F21 torpedo, with three successful consecutive launches, and the transfer of the sub-sections of the first Brazilian submarine to its assembly hall. Furthermore, the group has received notification of the order for the 5th submarine of the Barracuda programme.”

    The order intake over the first half of 2018 accounts for €1.92 billion, bringing the backlog at the end of June 2018 to €13.8 billion.

    The main orders come from both France and international markets. They relate to all of the company’s sectors, from new-build programmes to services or equipment. The main notifications relate to the nuclear attack submarine (SSN) programme, the FREMM frigate programme and the refit of the La Fayette class frigates, as well as an additional order in relation to the Australian Future Submarine (AFS) programme.
    The first half of 2017 benefitted from a particularly high level of order intake due to the notification of the medium-size frigate (FTI) programme.

    Activity: sales up by 10 % to €1.87 billion
    The half-yearly sales accounts for €1.87 billion, representing an increase of almost 10.2 % compared to the first half of 2017 (restated according to the IFRS 15 standard). This is bolstered by the major French national programmes, principally the Barracuda nuclear attack submarines and the FREMM multi-mission frigates. The international markets benefitted from the strong contribution of Brazil and Australia. Services have also contributed significantly, in particular through the modernisation programme for the Charles de Gaulle aircraft carrier and the M51 adaptation programme for the SSBN Le Téméraire.

    Profitability: significant increase in EBITA and operating profit
    EBITA (earnings before interest, taxes and amortisation) is €126.9 million. The return on sales ratio increased from 3.8 % for the first half of 2017 (restated according to the IFRS 15 standard) to 6.8 % for the same period in 2018.

    This sharp progress demonstrates the operational improvement of the programmes and the effectiveness of the actions undertaken for over three years.

    The consolidated net income, group share amounts to €104.6 million, which corresponds to an increase of almost €39 million compared to the first half of 2017 (restated according to the IFRS 15 standard). This strengthens the group’s capacity to finance its future growth.
    Perspectives: maintaining efforts to control costs and lead times

    Throughout the 2018 reporting period, Naval Group will pursue its initiative to continuously improve the competitiveness of its offers and current programmes, both in France and on international markets, driven in particular by the control of costs and lead times. The improvement in profitability in 2017 should continue through 2018 and the consolidated net income group share is expected to increase by around 10%.

    About Naval Group
    Naval Group is the European leader in naval defence. As an international high-tech company, Naval Group uses its extraordinary know-how, unique industrial resources and capacity to arrange innovative strategic partnerships to meet its clients’ requirements. The group designs, produces and supports submarines and surface ships. The group also provides services for naval shipyards and bases. In addition, the group offers a wide range of marine renewable energy solutions. Aware of its corporate social responsibilities, Naval Group is a member of the United Nations Global Compact. The group reports revenues of €3.7 billion and has a workforce of 13,429 (data for 2017).




2018 December 9

17:01 Jan De Nul starts beach protection project in Benin
16:06 MOL to participate in construction, ownership, operation of FSRU for Jawa 1 Gas-Fired IPP Project in Indonesia
14:40 Coast Guard continues search for survivors of capsized migrant vessel off Dominican Republic
13:38 CMA CGM announces FAK rates for Asia-Middle East Gulf trade
11:39 MHI Vestas clinches largest MW turbine order for Scotland's Moray Firth

2018 December 8

17:15 Huntington Ingalls Industries names Herman Shelanski as new VP, Business Development at it's shipbuilding division
16:07 Gladding-Hearn built pilot boat delivered to Southwest Alaska Pilots Association
13:12 EGCSA blasts MPA's ban on open-loop scrubbers in Singapore
10:28 Torqeedo displays 2019’s new electric boating products at Salon Nautique International de Paris.

2018 December 7

18:01 Naming ceremony for Arctic condensate tanker Boris Sokolov held at Guangzhou Shipyard International
17:38 Tellurian and Vitol sign MOU for 15-year LNG sale on JKM
17:14 Port of Tallinn rewards emission-reducing ships with a discount of up to 8% on tonnage fees
16:50 Vladimir Putin presents Captain Zybko with Distinguished Maritime Service Order
16:26 BSAP updates move forward at HELCOM key meeting
16:02 Orange Business Services keeps Arctic Shipping Company fleet connected along the Northern Sea Route
15:37 EU NAVFOR promotes maritime security dialogue in Somalia
14:59 Protection structures to be built at the port of Sochi
14:25 Northern Fleet's frigate Admiral Gorshkov takes part in training in the Barents Sea
14:08 ABS signs MOU with KOMERI to create a new facility dedicated to improving the safety of LNG as fuel
13:08 Crowley adds 400 new refrigerated containers to its fleet
12:26 Freight turnover of Neva-Metal (Saint-Petersburg) in 11M’18 climbed by 3% Y-o-Y to about 2.9 million tonnes
11:57 Montreal, Canada to host 14th Arctic Shipping Summit on 13-14 March 2019
11:24 Vladivostok Sea Fishing Port handled 284,000 tonnes of fish in 11M’18, up 25.8% Y-o-Y
11:08 SEA Europe and ECSA pleased with EU’s actions on trade-distortive South Korean measures in shipping and shipbuilding
10:45 Extraordinary General Shareholders Meeting of LUKOIL approves interim dividends
10:21 Brent Crude futures price down 0.62% to $59.69, Light Sweet Crude – down 0.41% to $51.28
10:06 Barcelona City Council supports reducing pollution in the Mediterranean with a low emissions zone
09:42 Bunker prices are slightly down at the Port of Saint-Petersburg, Russia (graph)
09:19 Baltic Dry Index is up to 1,339 points
09:03 Fincantieri launches new ship “Carnival Panorama” for Carnival Cruise Line
08:07 NYK concludes long-term charter agreement for two LNG carriers with Total
07:24 ‘Breakbulk carrousel’ gives breakbulk and heavy cargo companies space for further growth in Rotterdam’s Waalhaven

2018 December 6

18:05 ONE Thailand receives 2018 Best Container Liner Award from Thai National Shippers’ Council
17:54 IAPH LNG bunkering audit tool already used to license operations at Port of Rotterdam
17:35 IMO highlights key elements of the Initial IMO Strategy on reduction of GHG emissions from ships
17:17 2019 port tariff increases at North Sea Port stay below inflation level
17:05 Chinese group Lingang signs 5 MOU’s for the realisation of the Lingang Overseas Modern Industrial Park in Zeebrugge
16:40 RF Navy's Northern Fleet to protection Russia’s national interests in the Arctic
16:15 Nexans strengthens its focus on Inspection, Maintenance and Repair (IMR) services with a dedicated team of IMR experts
16:01 MABUX: Big chance for bunker prices to turn into firm upward evolution again
15:38 Samskip's investments secure supply chain against Brexit
15:26 Russian Railways: Loading of export cargo bound for domestic ports up 4.9% to 279.8 million tonnes in 11M’18
15:01 Höegh LNG announces delivery of FSRU number nine, "Höegh Gannet"
14:47 Shipboard equipment localization center encourages shipbuilders to scale up their activities in info-field
14:12 MV S’hail al Wajbah is the newest addition to the Baumarine Pool
13:49 Throughput of port Taganrog in 11M'18 up 3% to 2.78 million tonnes
13:33 FESCO transported 24,000 tonnes to Chukotka under northern delivery of cargoes-2018
13:12 Jan De Nul signs 25 year concession agreement to dredge Guayaquil Port Access Channel
12:50 Modernization of FESCO terminal in Novosibirsk to halve the time of container handling
12:28 Bunker prices continue going down at the Far East ports of Russia (graph)
12:09 CMA CGM announces FAK rates from Asia to Red Sea
11:54 BashVolgotanker carried 1.8 million tonnes of oil products in navigation season of 2018, flat Y-o-Y
11:22 Ukraine accedes to load lines convention
11:00 Bunker sales at port Vladivostok in 11M’2018 grew by 64% to 1.034 million tonnes
10:37 Work on Freeport of Riga Development Programme for 2019-2028 nears completion
10:15 Brent Crude futures price down 0.83% to $61.05, Light Sweet Crude – down 1.04% to $52.34
09:56 CMA CGM and Freightos sign landmark agreement advancing digitization in the shipping industry
09:43 Vostochny Port exported 22.3 million tonnes of coal in 11M’2018, up 5.8% Y-o-Y
09:18 Baltic Dry Index is up to 1,296 points

2018 December 5

19:13 Damen’s first Fishing Seminar success as new leasing fund welcomed by South African fishing community