• 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).




2019 February 19

17:03 Jan De Nul and Government of the People’s Republic of Bangladesh enter into agreement for the development and dredging of access channels, turning basins, anchorages and berthing areas
16:29 TMA Logistics, CTU and VCL join forces to establish Amsterdam-Utrecht-Rotterdam-Corridor
16:21 NIBULON shipbuilders finish constructing a series of POSS-115 Project tugs
16:03 MOL conducts underwater drone demonstration test for vessel bottom inspection
15:25 Wärtsilä’s propeller cap EnergoProFin listed in EcoAction Program
15:02 ICTSI's Matadi Gateway Terminal unlocks shipping system benefits
14:40 2nd conference on transportation of dangerous cargoes to address application of IMDG Code and ADR Agreement in Russia
14:02 Havyard to deliver ship design for further two cargo vessels for Royal Arctic Line
13:33 Ecochlor announces BWMS retrofit contract with Alaskan Tanker Company
13:02 GTT notified by Samsung Heavy Industries for the tank design of a new LNG carrier for Navigare
12:30 Gas4Sea partners and Equinor signed an LNG bunkering agreement
12:24 Social allocations of Multipurpose Reloading Complex grew by 22% YoY to RUB 3.8 million in 2018
12:01 Rail traffic at the Port of Gothenburg up to 398,000 TEUs in 2018
11:43 International best practices are introduced at ASCO to protect sailors health
11:41 Port of Hamburg sets record for seaport-hinterland rail traffic in 2018
11:39 IMO’s Sub-Committee on Pollution Prevention and Response meets this week
11:18 Concordia Damen celebrates naming of innovative Sendo Liner
11:15 ASCO hosted a training course for instructors
10:47 24 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on February 18-19
10:22 ABP bolsters business with paper company joining Port of Hull
09:58 Brent Crude futures price is down 0.42% to $66.22, Light Sweet Crude – down 0.38% to $56.19
09:40 BIMCO demands 4th IMO GHG Study based on realistic economic growth
09:19 Baltic Dry Index is up to 643 points

2019 February 18

18:06 Algoma announces the Algoma Conveyor is headed for Canada
17:36 Maersk Line announces rates from Mediterranean to West and Central Asia
17:06 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
16:41 MAN Energy Solutions launches new TCT turbocharger series
16:26 VSC receives positive conclusion of state environmental expertise
16:02 Herbert-ABS releases HECSTAB Offshore
15:31 PPR 6 preview: IBIA working for sensible 2020 solutions at IMO meeting
15:02 Suez Canal extends its dry bulk vessels tolls reduction
14:43 Gazprom and Almaz-Antey Corporation sign contract for batch manufacturing of subsea production equipment
14:20 Average wholesale prices for М-100 HFO up to RUB 15,842 in RF spot market
14:02 MOL Chemical Tankers acquires 20% share of Dutch tank container company Den Hartogh
13:39 2nd Hydraulic Engineering Structures and Dredging Congress to gather over 200 Russian and foreign participants
13:15 ONE unveils enhanced intra-Asia Japan service network for 2019
12:51 Nakhodka Trade Sea Port and Damen sign contract on delivery of tug by summer 2019
12:18 33 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on February 17-18
11:53 World Maritime University signs MoU with Jordan Academy for Maritime Studies
11:30 Coastal fish assessments to continue in Baltic Sea with renewed HELCOM project
11:07 Fincantieri starts dry dock works on ultra-luxury cruise ship "Silver Moon"
10:55 Finnpilot Pilotage amendments its service terms during validity of winter assistance restrictions
10:26 ASCO is interested in cooperation with prominent shipping companies
10:07 Diana Shipping announces the sale of two Panamax dry bulk vessels and time charter contracts for m/v Crystalia and m/v Maera with Glencore
09:40 Brent Crude futures price is up 0.17% to $66.36, Light Sweet Crude – up 0.45% to $56.23
09:21 Baltic Dry Index is up to 639 points
09:07 Panama Canal Board of Directors appoints new Canal Administrator and Deputy Administrator
08:07 IMO conducts training course to enhance maritime security in Kenya
07:32 Valencia hosts first internal technical meeting of European project “H2PORTS - Implementing Fuel Cells and Hydrogen Technologies in Ports”

2019 February 17

16:59 Coast Guard responds to vessel fire near Rockport, Texas
15:09 Kleven Shipyard delivers to Maersk the AHTS Maersk Maker
14:33 Danube high-speed low-wash ferry offers new level of efficiency and reliability
13:21 Interorient Marine Services Ltd. convicted and sentenced for oil discharge
12:39 USCG assists in rescue of five people from sunken vessel near Dutch Harbor
11:01 European ports welcome agreement on the European Maritime Single Window environment

2019 February 16

16:15 Ribbon-cutting kicks off ICTSI´s Batumi terminal expansion project
14:42 Höegh’s RoRo solution chosen for 112MT Transformer shipment
13:28 Torqeedo wins Innovation Award at Miami International Boat Show for powerful new inboard electric propulsion system
12:13 Telford Offshore beefs up its fleet
10:26 Chevron inks new LNG agreement with GS Caltex