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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

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