This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

BOURBON : Fourth Quarter 2012 And Full-year 2012 Revenues

Revenues

    (in millions of euros)        4th quarter                Full year
                                             Change                    Change
                                               at                        at
                                            current                   current
                                            exchange                  exchange
                            Q4 2012 Q4 2011   rate     2012    2011     rate
    Marine Services           257.2   216.5   +18.8%    972.2   792.9   +22.6%
         of which Deepwater
           offshore vessels    92.6    87.5    +5.8%    360.8   318.4   +13.3%
     of which Shallow water
           offshore vessels    91.1    66.6   +36.8%    336.7   241.5   +39.4%
         of which Crewboats    73.5    62.4   +17.8%    274.8   233.0   +17.9%
    Subsea Services            51.4    48.1    +6.8%    190.0   172.8   +10.0%
    Other                       4.2     8.5   -51.0%     24.7    42.3   -41.7%
    BOURBON TOTAL             312.8   273.1   +14.5%  1,186.9 1,008.0   +17.7%

Compared with the fourth quarter of 2011, BOURBON posted revenues of 312.8 million euros, up 14.5% (+11.5% at constant exchange rates) owing to the addition of 33 vessels to the fleet, to the increase in average daily rates and to a favorable dollar effect.

Growth is especially substantial in the Shallow water offshore vessels segment (+36.8%).

Compared with the third quarter of 2012, BOURBON's revenues were up 2.2% (+3.2% at constant exchange rates).

For the full year 2012, revenues rose by 17.7% (+13.7% at constant exchange rates) and +20.3% excluding the segment "Other" with all segments contributing to that growth, and more particularly the Shallow water offshore vessels segment (+39.4%).

MARINE SERVICES

                                      Q4 2012   Q4 2011    Change     Q3 2012

    Revenues (in millions of euros)       257.2    216.5      +18.8%     254.5
    Number of vessels* (end of
    period)                                 439      418   +21 vessels    439
    Average utilization rate              86.0%    85.5%     +0.5 pt     83.4%

*Vessels owned by BOURBON or on bareboat charter

Compared with the fourth quarter of 2011, Marine Services revenues were 18.8% higher at 257.2 million euros. This growth is especially noticeable in the Shallow water vessels segment (9 additional vessels entered in service over the period) and the Crewboats segment (20 additional vessels entered in service over the period).

Compared with the third quarter of 2012, revenues for this Activity were up 1.1%.

For the full year 2012, revenues amounted to 972.2 million euros, up 22.6% from 2011.

Marine Services indicators by segment

  • Deepwater offshore vessels
                                        Q4 2012    Q4 2011   Change   Q3 2012

    Revenues (in millions of euros)          92.6      87.5     +5.8%     93.2
                                                                  + 2
    Number of vessels* (end of period)         72        70   vessels       71
    Average utilization rate                90.2%     93.7%  -3.5 pts    92.1%

*Vessels owned by BOURBON or on bareboat charter

2 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs