BOURBON : Fourth Quarter 2012 And Full-year 2012 Revenues
PARIS, February 6, 2013 /PRNewswire/ --
Strong growth in 2012
2012 revenues: up 17.7% to 1.187 billion euros
4th quarter 2012 revenues up 14.5%«In a favorable oil and gas services market, BOURBON ' s growth is in line with the BOURBON 2015 Leadership Strategy plan. Average daily rates are still in a suitable range, " says BOURBON ' s Chief Executive Officer Christian Lefèvre . " Our positioning in the deepwater mid-sized vessel market and high-end shallow water vessel market (diesel-electric and DP2 dynamic positioning) is paying off. The stability of the Brent price per barrel ( US$ 110 on average in the last quarter of 2012) is helping to bolster major investments by our clients and hence the demand for vessels in the upcoming quarters. Under these conditions, backed by its growing modern fleet of standardized, innovative vessels with an average age of 6 years, BOURBON is set to reap the full benefits of an offshore vessel market that is expected to improve even further in 2013."
BOURBON Marine Services Subsea Services Q4 2012 Q4 2011 Q4 2012 Q4 2011 Q4 2012 Q4 2011 Revenues 312.8 273.1 257.2 216.5 51.4 48.1 (in millions of euros) +14.5% +18.8% +6.8% Number of vessels * 458 437 439 418 18 18 (end of period) +21 vessels +21 vessels - Average utilization rate 86.2% 85.7% 86.0% 85.5% 91.7% 91.0% (in %) +0.5 pt +0.5 pt +0.7 pt*Vessels owned by BOURBON or on bareboat charter
Total Shallow fleet Deepwater water excl. offshore offshore IMR Crewboats Crewboats Average utilization rate (in %) Q4 2012 90.2% 92.2% 91.7% 91.4% 82.5% Q4 2011 93.7% 88.3% 91.0% 90.7% 82.1% 21,074 14,257 39,064 19,097 4,987 Average daily rate (in US$/d) Q4 2012 +4.2% +12.4% +13.2% +6.3% +14.7% Q4 2011 20,222 12,681 34,516 17,965 4,3492012 Highlights
- A steadily growing market in 2012, particularly in Asia (+33.1%, primarily in Australia) and Africa (+19.3%) featuring the gradual increase in average utilization rates and average daily rates.
- This growth is especially strong in the Shallow water offshore vessels segment (+ 39.4%) thanks to the increase in average daily rate, the addition of new vessels to the fleet and the favorable impact of the dollar.
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