Bourbon Books $84 Mln Loss in 2015

Bourbon has ended the year 2015 in red as the lower utilization rate and an negative unrealized foreign exchange drove the company into a loss.

French vessel owner and offshore services provider has taken a €76.6 million ($84 million) net loss (group share) in 2015, compared to €73.7 million net profit in 2014.

The company generated a total of €1,437 million in full-year adjusted revenues. Bourbon said it expects 2016 adjusted revenues to have a moderate decline versus 2015 and the operating margin to decline slightly compared with 2015.

Capital expenditures were slashed to €298 million in 2015 from €568 million in 2014.

“Cost reductions and operational efficiency remains a high priority for the upcoming quarters,” said Christian Lefèvre, Bourbon CEO.

In order to reduce operational costs, Bourbon informed it will continue to stack up to 20% of its supply fleet if there are no commercial opportunities in the medium term.

The company proposed to maintain dividend payment of €1.00 per share to shareholders, with a payment date of June 6, 2016.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Shallow and Deepwater Mexico Exhibition and Conference

Shallow and Deepwater Mexico, an offshore oil and gas exhibition and conference is the key center for the international offshore oil and gas community in Mexico. 

read more >

Underwater Intervention (UI) 2020

Underwater Intervention Conference is a conference where oil and gas industry professionals, senior decision…

read more >

Subsea Expo 2020

Subsea Expo is the world’s largest subsea exhibition and conference and is completely free to attend.

read more >

Oceanology International 2020

Exhibitors from industry, government and research institutions share their knowledge and come…

read more >