• 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 October 20

08:47 Boskalis, Van Hattum en Blankevoort and Mobilis construct deep-sea quay for the new HES Hartel Tank Terminal at Maasvlakte
08:10 Navios Partners announce filing of F - 1 for direct listing of Navios Containers
08:06 Maersk Line increases FAK rates for Northern Europe to Middle East and ISC trade
08:04 U.S. Navy contracts Austal to order materials for EPF 13
07:44 EU Commission launches the European Network of U-space Demonstrators

2018 October 19

18:42 ABN AMRO, Samsung SDS and the Port of Rotterdam Authority launch container logistics blockchain pilot
18:07 Stena Line's battery hybrid vessel completes its first month of operation
17:56 ABN AMRO, Samsung SDS and Port of Rotterdam Authority launch container logistics blockchain pilot
17:35 Port of Gdansk participated in the CILF 2018 fair in China
17:11 Gdansk pays a visit to Singapore
16:57 Testbed established for Internet of Ships Open Platform
16:48 Finland’s Water Transport Act aims to improve safety and increases preparedness for the future
16:26 World’s largest LNG bunker supply vessel “Kairos” started its voyage to Europe
16:04 KN will motivate its employees with the company's shares
15:42 New Falck training centre on the Maasvlakte officially openes
15:20 Seimas members visiting Klaipėda discussed benefits provided by LNG terminal
14:59 Ukraine plans dredging of 16.33 million cbm of material in 2019
14:37 UN agencies delivering on maritime security
14:15 Hapag-Lloyd starts new Red Sea service
14:00 Atomflot: shipments from Arctic LNG and Yamal LNG to be assisted by diesel and gas powered icebreakers
13:31 MOL's newbuilt LNG carrier "MARVEL EAGLE" to transport LNG from Cameron project in U.S.
13:11 NIBULON Shipbuilding and Repair Yard launches POSS-115 Project tug
13:05 BigLift Barentsz sails Northern Sea route for Pioneering Spirit
12:48 Glavgosexpertiza approves reconstruction of KSK grain terminal to increase its capacity to 4 million tonnes
12:22 Q&A with ImageSat International released ahead of SMi’s 4th annual Maritime Reconnaissance and Surveillance Technology conference
12:05 FESCO wins tender for supplying Indian Research Stations in Antarctica in 2019
11:43 Competition for designing and construction of LNG-powered icebreaker to be announced in late 2018 - early 2019
11:20 North Sea Giant turns to The Switch EBL technology
10:54 NOVATEK to place four FLNG facilities on the Northern Sea Route
10:31 RF Navy’s major amphibious ship Ivan Gren enters North Sea
10:07 Port of Vancouver closes 2018 cruise season
09:56 Brent Crude futures price up 0.4% to $79.61, Light Sweet Crude – up 0.35% to $68.89
09:38 Tackling maritime emissions - IMO rolls out ship and port toolkits
09:29 Expert forecasts more favorable ice situation on Northern Sea Route for 30 years ahead
09:15 Baltic Dry Index is up to 1,565 points
09:07 Hapag-Lloyd, CMA-CGM and COSCO enhance GEM service - covering Mediterranean with the Middle East / ISC
08:37 Samskip launches Netherlands-Italy multimodal rail service
08:07 SEA\LNG submits open comment on the draft supplemental environmental impact statement for Puget Sound LNG facility
07:20 Van Oord awarded offshore contract for the West White Rose Project

2018 October 18

18:03 VSDV opens new crossdock location in the port of Amsterdam
17:33 The first vessel in Klaveness Combination Carriers next generation of combination carriers named at New Yangzi Shipyard in China
17:17 Cargo transportation via Northern Sea Route can reach 17 million tonnes in 2018
17:03 Savannah container trade up 12 percent in September 2018
16:55 PGRK: sales strategy of Pavlovskoye deposit project is focused on foreign markets
16:33 SITC Logistics Group signs strategic cooperation agreement with Chengdu Port Investment Group and Guangzhou Port Logistics Group
16:03 NYK and Horiba to develop a new sulfur-in-oil analyzer for ships
15:34 Thames freight volume rises by 40% as Thames Vision strategy starts to bear fruit
15:33 Port of Rotterdam Authority and research institute TNO present results of the study at IMO meeting
15:31 Dublin Port volumes grow by 4.7% in first nine months. By year end, 36% growth in just six years
15:03 Chinese Lingang group invests 85 million euros in Zeebrugge inner port
14:47 Practical aspects of LNG bunkering to be discussed at the dedicated conference in Moscow on October 24
14:33 Nouryon, Tata Steel, and Port of Amsterdam partner to develop the largest green hydrogen cluster in Europe
14:24 Bunker prices may change irregular next week amid rising volatility on global fuel market, expert says
14:11 Tallink and Rauma marine constructions sign letter of intent for the construction of new shuttle ferry
14:02 VesselMan and DNV GL team up to offer optimized solution for dry-docking management
13:30 Project Forward paves the way for meeting IMO’s reduction on CO2 emissions
13:14 Equinor’s share saving plan allocates shares
13:02 Damen Shipyards Group and Abu Dhabi Ports sign contract for two Damen ASD Tugs 2411
12:52 Volumes transported by TransContainer’s flatcars and containers grew by 5.1% Y-o-Y to 1.38 million TEUs
12:43 Diana Shipping announces direct continuation of time charter contract for M/V Astarte with Glencore