Prosafe posts H1 2015 results
Prosafe reported results for second quarter and first half 2015. Operating profit for the second quarter came to USD 22.8 million and net profit amounted to USD 12.2 million. Prosafe has entered into contracts of a total gross value of approximately USD 240 million in August. An interim dividend of NOK 0.40 per share was resolved.
Revenues for the second quarter of 2015 were USD 92.5 million (USD 133.4 million). Revenues are reduced by USD 12.7 million as a result of a commercial agreement which overall will result in a net positive revenue effect in the longer term.
Operating profit amounted to USD 22.8 million (USD 55.0 million).
Net financial expenses for the second quarter were USD 7.0 million (USD 10.0 million). This change is mainly due to favourable currency effects partly offset by higher interest costs.
Net profit amounted to USD 12.2 million (USD 42.1 million), corresponding to diluted earnings per share of USD 0.05 (USD 0.18).
Total assets at 30 June amounted to USD 2,241.7 million (USD 1,689.9 million), while the book equity ratio declined to 33.9 per cent (40.9 per cent). Net interest-bearing debt stood at USD 1,123.7 million (USD 799.2 million).