Aker Kvaerner orderbook at nearly NOK 60 bn
Aker Kvaerner had an order backlog worth NOK 59.7 billion by the end of 2006, up 23 per cent on 2005. Preliminary annual figures show that operating revenues was up from NOK 36.94 billion to NOK 50.59 billion last year and EBITDA improved from NOK 1.82 billion to NOK 2.87 billion. Profits for the period was up from NOK 1.24 billion to a healthy NOK 3.78 billion and the full year EBITDA margin was 5.7 per cent against 4.9 per cent in 2005. Cash-flow from operating activities was NOK 2 636 million in 2006, reflecting a NOK 678 million increase in net current operating assets. The refinancing of Aker Kvaerner was successfully concluded 1 December. The syndication of the bank facility of EUA 750 million attracted substantial interest in the market. Aker Kvaerner also issued bonds with a total amount of NOK 1.6 billion in connection with the refinancing.