Scanship Holding ASA : Operational update - Increased profits
Scanship recorded first quarter 2018 EBITDA earnings of NOK 9.0 million (1Q17 NOK 5.7 million) and an EBITDA margin of 11.6 % (1Q17 8.9%). Applying last year accounting standard on 1Q 2018, revenues are up 20% and EBITDA earnings are 58% higher than same period last year.
"The result for the period is driven by higher activity with increased equipment supplies to shipyards. Record high backlog build-up creates good forward visibility and enables us to continue profitable growth", says Henrik Badin, CEO of Scanship Holding ASA (Scanship).
The cruise industry grows with an all-time high forward newbuild orderbook of approximately 100 cruise ships. This activity translates into an increasing demand for Scanship systems. Focus on sustainability and cleaner oceans are further both creating opportunities for the company within retrofitting ships and in the aquaculture industry, where Scanship delivers technology for sustainable fish farming and circular economy.
See enclosed Operational update Q118 with further details.
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