Paris, August 5, 2015
BOURBON 1
st Half 2015
Revenues Adjusted 1
st Half 2015
revenues increased 13.1% to €759 million at current rates (-1.7% at
constant rates), which demonstrates good operational resilience in
a very challenging market
-
First Half 2015 adjusted revenues reached a
company record of €758.8 million, confirming BOURBON's position as
a world leader in the OSV market
-
Aside from the impact of a stronger US dollar on
revenues, activity remained robust, despite adverse market
conditions, on the back of a:
-
2.6% increase in the fleet size
-
3.4 point decrease in the average utilization
rate
-
2.6% decrease in the average daily rate (in
US$)
-
Compared with the second semester of 2014,
adjusted revenues decreased by 6.8% at constant rates
-
Compared with the preceding quarter, adjusted
revenues decreased 2.2%, reflecting the additional impact of
average daily rate renegotiations and further stacking of
vessels
In € millions, unless otherwise
noted |
Quarter |
Half Year |
Q2 2015 |
Q2
2014
(restated) |
Var 2015/
2014 |
Q1
2015 |
H1 2015 |
H1
2014
(restated) |
Var 2015/
2014 |
Operational indicators |
|
|
|
|
|
|
|
Number of
vessels (FTE)* |
501.2 |
491.8 |
+1.9% |
500.0 |
500.6 |
487.9 |
+2.6% |
Number of
vessels (end of period)** |
506 |
501 |
+5
vessels |
501 |
506 |
501 |
+5
vessels |
Average
utilization rate (%) |
77.1% |
80.2% |
-3.1 pts |
79.1% |
78.1% |
81.5% |
-3.4 pts |
Average
daily rate (US$/day) |
11,558 |
12,274 |
-5.8% |
12,169 |
11,885 |
12,207 |
-2.6% |
(*) FTE: Full
Time Equivalent.
(**) Vessels operated by BOURBON (including
vessels owned or on bareboat charter).
Adjusted Revenues (a) |
|
|
|
|
|
|
|
Marine
Services |
299.8 |
277.5 |
+8.1% |
312.2 |
612.0 |
551.8 |
+10.9% |
Deepwater offshore vessels |
109.6 |
98.9 |
+10.8% |
113.8 |
223.4 |
194.0 |
+15.2% |
Shallow water offshore vessels |
116.1 |
108.3 |
+7.2% |
123.5 |
239.6 |
214.9 |
+11.5% |
Crew boats |
74.2 |
70.3 |
+5.5% |
74.9 |
149.1 |
142.9 |
+4.3% |
Subsea
Services |
70.9 |
56.2 |
+26.1% |
67.1 |
138.0 |
110.9 |
+24.5% |
Other |
4.5 |
4.2 |
+7.4% |
4.3 |
8.8 |
8.3 |
+6.6% |
Total adjusted revenues
(change at constant rates) |
375.2
|
337.9
|
+11.0%
-4.9% |
383.6
|
758.8
|
670.9
|
+13.1%
-1.7% |
IFRS 11
impact*** |
(30.1) |
(15.3) |
n/s |
(27.4) |
(57.5) |
(28.3) |
n/s |
Group TOTAL |
345.1 |
322.6 |
+7.0% |
356.3 |
701.3 |
642.6 |
+9.1% |
(***) Effect of
consolidation of jointly controlled companies using the equity
method.
(a) See page 2.
Average
utilization rate (excl. Crew boats) |
79.5% |
87.3% |
-7.8 pts |
84.3% |
81.9% |
88.9% |
-7 pts |
Average
daily rate (excl. Crew boats US$/d) |
18,640 |
19,588 |
-4.8% |
19,301 |
19,012 |
19,541 |
-2.7% |
"The first half
of 2015 was highlighted by a continued slowdown in activity in most
regions and negotiations with clients on commercial terms.
Throughout this difficult period, BOURBON has demonstrated
resilience, evidenced by the revenue progression, thanks to our
strategy of operating a safe, modern and efficient fleet",
says Christian Lefèvre, Chief
Executive Officer of BOURBON. "While the
duration of this downturn is uncertain, BOURBON is constantly
adapting to the market and is unwavering in its focus on excellence
in service execution and reducing its costs. This focus will not
only improve the group's resilience in the current cycle but will
make it even stronger going forward."
(a) Adjusted
data:
The adjusted financial information is presented by
Activity and by Segment based on the internal reporting system and
shows internal segment information used by the principal operating
decision maker to manage and measure the performance of BOURBON
(IFRS 8). As of January 1, 2015, the internal reporting (and thus
the adjusted financial information) records the performance of
operational joint ventures on which the group has joint control
using the full integration method. Adjusted comparative figures are
restated accordingly.
OPERATIONAL
HIGHLIGHTS
MARINE
SERVICES
-
The market was especially difficult for larger
vessels and traditional propulsion vessels (non DP2) in shallow
water
-
To adapt to market conditions and to optimize
costs, in the Deepwater and Shallow water segments combined, up to
26 supply vessels were temporarily stacked during the 1st half; many
of these were non-strategic vessels (non DP, non-diesel electric);
the majority of the vessels stacked were in the Shallow water
segment
-
Almost all regions showed a significant decline
in activity, the greatest impact being seen in the North Sea,
Mediterranean/Middle East/India and Asia, while there was good
resiliency in the Americas and West Africa
Deepwater offshore
-
The first half reflects client decisions to
postpone or cancel projects in exploration and development with
less impact on production projects
-
Demand in the North Sea and Asia declined
significantly and activity in West Africa started to decline during
the period
-
Average daily rates decreased both sequentially
and year on year, with effects coming from newer contracts at lower
rates as well as renegotiation of some existing contracts
Shallow
water offshore
-
All regions other than the Americas were
impacted by the current market conditions
-
Almost 40% of BOURBON's non-strategic vessels
have been stacked, while the Bourbon Liberty vessels have been
showing relatively better resilience in this market
Crew
boats
SUBSEA
SERVICES
-
To adapt to current conditions, BOURBON stacked
as many as 5 vessels during the period
-
BOURBON took delivery of the 9th
Bourbon Evolution 800 series MPSV on June 30, 2015, with the final
vessel in the investment program expected to be delivered in the
2nd half
2015
-
Bourbon ROVs installed on its own vessels
provided the necessary reactivity for the spot IMR market which has
developed in a difficult market
-
The Subsea geographic operating area had further
diversified, with 2 Bourbon Evolution 800 vessels working in the
Persian Gulf to the satisfaction of the clients
-
In the renewable energy market, BOURBON
completed the installation of a submarine cable in a tidal turbine
connection project off the island of Ushant in France
MARINE SERVICES
|
Quarter |
Half Year |
Q2 2015 |
Q2
2014
(restated) |
Var 2015/
2014 |
Q1
2015 |
H1 2015 |
H1
2014
(restated) |
Var 2015/
2014 |
Adjusted Revenues (in € millions) |
299.8 |
277.5 |
+8.1% |
312.2 |
612.0 |
551.8 |
+10.9% |
Number of
vessels (end of period)* |
483 |
481 |
+2 vessels |
479 |
483 |
481 |
+2 vessels |
Average
utilization rate |
77.4% |
80.0% |
-2.6 pts |
79.2% |
78.3% |
81.2% |
-2.9 pts |
* Vessels
operated by BOURBON (including vessels owned or on bareboat
charter).
Overall, adjusted revenues
increased by over 10%, due partly to a strong worldwide client
network, local partnerships, a modern fleet and a favorable foreign
exchange rate with the US dollar. This helped to offset the effects
of a decline in average daily rates and average utilization rates
in all segments versus the 1st half of
2014. The decline in average utilization rates for the 1st half 2015
compared with the same period a year ago was most pronounced in the
Shallow water segment, though in both Deepwater and Shallow water
almost all regions experienced a decline.
Marine Services: Deepwater offshore vessels
|
Quarter |
Half Year |
Q2 2015 |
Q2
2014
(restated) |
Var 2015/
2014 |
Q1
2015 |
H1 2015 |
H1
2014
(restated) |
Var 2015/
2014 |
Adjusted Revenues (in € millions) |
109.6 |
98.9 |
+10.8% |
113.8 |
223.4 |
194.0 |
+15.2% |
Number of
vessels (end of period)* |
82 |
74 |
+8 vessels |
79 |
82 |
74 |
+8 vessels |
Average
utilization rate |
84.0% |
87.2% |
-3.2 pts |
86.0% |
84.9% |
87.9% |
-3 pts |
Average
daily rate (US$/day) |
20,286 |
23,219 |
-12.6% |
21,942 |
21,097 |
23,008 |
-8.3% |
* Vessels
operated by BOURBON (including vessels owned or on bareboat
charter).
Adjusted revenues increased on the
strength of new vessels joining the fleet and the positive foreign
currency effects. The decline in overall average daily rates
reflects the renegotiation of contracts with clients. The North Sea
experienced the most significant decline in average daily rates,
where BOURBON has only a small number of vessels. Average
utilization rates in Deepwater only declined 3.2 points, largely
due to the relatively higher level of contractualization and longer
term contracts in this segment and up to 6 vessels were stacked
during the period.
Marine Services: Shallow water offshore vessels
|
Quarter |
Half Year |
Q2 2015 |
Q2
2014
(restated) |
Var 2015/
2014 |
Q1
2015 |
H1 2015 |
H1
2014
(restated) |
Var 2015/
2014 |
Adjusted Revenues (in € millions) |
116.1 |
108.3 |
+7.2% |
123.5 |
239.6 |
214.9 |
+11.5% |
Number of
vessels (end of period)* |
138 |
133 |
+5 vessels |
138 |
138 |
133 |
+5 vessels |
Average
utilization rate |
78.3% |
87.8% |
-9.5 pts |
84.5% |
81.4% |
89.5% |
-8.1 pts |
Average
daily rate (in US$/day) |
13,507 |
14,006 |
-3.6% |
13,882 |
13,732 |
14,070 |
-2.4% |
* Vessels
operated by BOURBON (including vessels owned or on bareboat
charter).
The Bourbon Liberty vessels showed
resistance during the period, with average utilization rates more
than 10 points above the non-strategic vessels in the fleet.
Average daily rates saw significant decreases in Asia, with a
smaller decrease in West Africa while The Americas region increased
compared with the 1st half one
year ago on the strength of new contracts. The average daily rate
decline was partially countered by a mix effect of stacking
non-strategic vessels (non DP, non-diesel electric) which generally
have lower daily rates than similar sized strategic vessels.
Marine Services: Crew boat vessels
|
Quarter |
Half Year |
Q2 2015 |
Q2
2014
(restated) |
Var 2015/
2014 |
Q1
2015 |
H1 2015 |
H1
2014
(restated) |
Var 2015/
2014 |
Adjusted Revenues (in € millions) |
74.2 |
70.3 |
+5.5% |
74.9 |
149.1 |
142.9 |
+4.3% |
Number of
vessels (end of period) |
263 |
274 |
-11 vessels |
262 |
263 |
274 |
-11 vessels |
Average
utilization rate |
75.0% |
74.3% |
+0.7 pts |
74.4% |
74.7% |
75.5% |
-0.8 pts |
Average
daily rate (in US$/day) |
4,732 |
5,197 |
-8.9% |
4,934 |
4,837 |
5,250 |
-7.9% |
Adjusted revenues increased during
the period despite a reduction of 11 vessels compared with the same
period last year. The positive effects of the US dollar helped
offset the impact of the decline in average daily rates. Average
daily rates declined partly due to the reduction in average daily
rates of the FSIVs in the fleet, which have higher daily rates than
the smaller crew boats. There was good resistance in average
utilization rates, primarily due to crew boats providing a cost
effective alternative to the use of helicopters.
Subsea Services
|
Quarter |
Half Year |
Q2 2015 |
Q2
2014
(restated) |
Var 2015/
2014 |
Q1
2015 |
H1 2015 |
H1
2014
(restated) |
Var 2015/
2014 |
Adjusted Revenues (in € millions) |
70.9 |
56.2 |
+26.1% |
67.1 |
138.0 |
110.9 |
+24.5% |
Number of
vessels (end of period)* |
22 |
19 |
+3 vessels |
21 |
22 |
19 |
+3 vessels |
Average
utilization rate |
70.2% |
83.9% |
-13.7 pts |
75.9% |
73.1% |
88.8% |
-15.7 pts |
Average
daily rate (in US$/day) |
48,847 |
46,868 |
+4.2% |
50,118 |
49,718 |
46,452 |
+7.0% |
* Vessels
operated by BOURBON (including vessels owned or on bareboat
charter).
Compared with the same period a
year ago, revenues in the 1st half of 2015
increased primarily as a result of both an increase in the average
daily rate and a favorable foreign exchange rate impact. Average
daily rates increased due to the mix effect of new, larger vessels
that joined the fleet. The stacking of several vessels had the
primary impact on the decline in utilization rates. The Subsea
fleet has been repositioned to be present in all of BOURBON's main
regions of activity and is equipped and ready with ROVs on board
(including the new ROVs delivered this year) in order to meet the
specific needs of our clients all over the world.
Other
|
Quarter |
Half Year |
Q2 2015 |
Q2
2014
(restated) |
Var 2015/
2014 |
Q1
2015 |
H1 2015 |
H1
2014
(restated) |
Var 2015/
2014 |
Adjusted Revenues (in € millions) |
4.5 |
4.2 |
+7.4% |
4.3 |
8.8 |
8.3 |
+6.6% |
Using chartered vessels has two
advantages for BOURBON: it makes it possible to meet client demands
and generate contracts while new vessels are being built and added
to the fleet. Using chartered vessels also enables BOURBON to offer
vessels that are not part of its regular line of services when
needed for global calls for tenders. Volatility of "Other" revenues
is largely due to the variation in the number of chartered vessels
during the period.
OUTLOOK
The market environment in the oil
services industry has been significantly impacted by the effects of
the oil price drop and the resulting reduction in capital
investments by BOURBON's clients, which have been reported to
decrease 15% for the majors and up to 30% for the independents.
More recently, several large oil companies have been suggesting
even further cuts to come for 2016. These cuts are in addition to
significant cost reduction plans already underway.
BOURBON will continue to adapt to
conditions and maintain its focus on cost control. Among the
measures taken, BOURBON will continue to temporarily stack certain
vessels which have no anticipated activity for 3 months. Today, 26
supply vessels are stacked.
It is in this context that
BOURBON's strategy to operate a modern, standardized fleet,
combined with its strong worldwide client network and local
partnerships, contributes to its resiliency as its advantages
become an even greater differentiator during difficult market
conditions. This strategy has helped BOURBON achieve a high
technical availability rate of its vessels with more predictable
operating costs, which, combined with the low fuel consumption
advantages of its diesel electric motors, delivers significant cost
savings to clients to meet their offshore needs.
ADDITIONAL INFORMATION
FINANCIAL CALENDAR
2015
1st Half Results
press release |
September 9, 2015
|
2015 3rd Quarter
Financial Information press release |
November 4, 2015 |
|
|
APPENDIX Quarterly adjusted revenue breakdown
In € millions |
|
2015 |
|
2014 (restated) |
|
Q2 |
Q1 |
|
Q4 |
Q3 |
Q2 |
Q1 |
Marine
Services |
|
299.8 |
312.2 |
|
314.3 |
289.8 |
277.5 |
274.3 |
Deepwater offshore vessels |
|
109.6 |
113.8 |
|
111.4 |
106.3 |
98.9 |
95.1 |
Shallow water offshore vessels |
|
116.1 |
123.5 |
|
127.8 |
112.9 |
108.3 |
106.6 |
Crewboats |
|
74.2 |
74.9 |
|
75.0 |
70.6 |
70.3 |
72.6 |
Subsea
Services |
|
70.9 |
67.1 |
|
67.6 |
65.7 |
56.2 |
54.6 |
Other |
|
4.5 |
4.3 |
|
6.6 |
6.1 |
4.2 |
4.1 |
Total adjusted revenues |
|
375.2 |
383.6 |
|
388.5 |
361.7 |
337.9 |
333.0 |
IFRS 11
impact* |
|
(30.1) |
(27.4) |
|
(25.5) |
(20.8) |
(15.3) |
(13.0) |
TOTAL CONSOLIDATED ** |
|
345.1 |
356.3 |
|
363.0 |
340.8 |
322.6 |
320.0 |
* Effect of
consolidation of joint ventures using the equity
method.
**Consolidated 2014 figures have been restated
according to the implementation of the new accounting
standards.
Quarterly average utilization rates for the BOURBON offshore fleet
In % |
|
2015 |
|
2014 |
|
Q2 |
Q1 |
|
Q4 |
Q3 |
Q2 |
Q1 |
Marine
Services |
|
77.4 |
79.2 |
|
81.7 |
79.4 |
80.0 |
82.4 |
Deepwater offshore vessels |
|
84.0 |
86.0 |
|
85.8 |
85.7 |
87.2 |
88.6 |
Shallow water offshore vessels |
|
78.3 |
84.5 |
|
89.1 |
86.6 |
87.8 |
91.2 |
Crewboats |
|
75.0 |
74.4 |
|
76.7 |
74.0 |
74.3 |
76.6 |
Subsea
Services |
|
70.2 |
75.9 |
|
82.8 |
81.1 |
83.9 |
94.4 |
"Total fleet excluding Crewboats" |
|
79.5 |
84.3 |
|
87.5 |
85.8 |
87.3 |
90.6 |
"Total fleet" average utilization rate |
|
77.1 |
79.1 |
|
81.7 |
79.4 |
80.2 |
82.8 |
Quarterly average daily rates for the BOURBON offshore fleet
In US$/day |
|
2015 |
|
2014 |
|
Q2 |
Q1 |
|
Q4 |
Q3 |
Q2 |
Q1 |
Deepwater
offshore vessels |
|
20,286 |
21,942 |
|
23,093 |
23,887 |
23,219 |
22,839 |
Shallow water offshore
vessels |
|
13,507 |
13,882 |
|
14,452 |
14,152 |
14,006 |
14,199 |
Crewboats |
|
4,732 |
4,934 |
|
5,067 |
5,113 |
5,197 |
5,323 |
Subsea
Services |
|
48,847 |
50,118 |
|
48,063 |
50,992 |
46,868 |
45,407 |
"Total fleet excluding Crewboats" average
daily
rate |
|
18,640 |
19,301 |
|
19,871 |
20,247 |
19,588 |
19,497 |
Quarterly number of vessels (end of period)
In number of vessels* |
|
2015 |
|
2014 |
|
Q2 |
Q1 |
|
Q4 |
Q3 |
Q2 |
Q1 |
Marine
Services |
|
483 |
479 |
|
483 |
481 |
481 |
479 |
Deepwater offshore vessels |
|
82 |
79 |
|
79 |
75 |
74 |
73 |
Shallow water offshore vessels |
138 |
138 |
139 |
135 |
133 |
130 |
Crewboats |
263 |
262 |
265 |
271 |
274 |
276 |
Subsea
Services |
|
22 |
21 |
|
21 |
19 |
19 |
18 |
FLEET TOTAL |
|
505 |
500 |
|
504 |
500 |
500 |
497 |
* Vessels
operated by BOURBON (including vessels owner or on bareboat
charter).
Quarterly deliveries of vessels
In number of vessels |
|
2015 |
|
2014 |
|
Q2 |
Q1 |
|
Q4 |
Q3 |
Q2 |
Q1 |
Marine
Services |
|
4 |
0 |
|
10 |
5 |
8 |
12 |
Deepwater offshore vessels |
|
3 |
0 |
|
5 |
1 |
1 |
2 |
Shallow water offshore vessels |
0 |
0 |
4 |
2 |
3 |
6 |
Crewboats |
1 |
0 |
1 |
2 |
4 |
4 |
Subsea
Services |
|
1 |
0 |
|
2 |
0 |
1 |
2 |
FLEET TOTAL |
|
5 |
0 |
|
12 |
5 |
9 |
14 |
Half Year adjusted revenue breakdown
In € millions |
|
2015
H1 |
|
2014 (restated) |
|
|
H2 |
H1 |
Marine
Services |
|
612.0 |
|
604.1 |
551.8 |
Deepwater offshore vessels |
|
223.4 |
|
217.7 |
194.0 |
Shallow water offshore vessels |
|
239.6 |
|
240.8 |
214.9 |
Crewboats |
|
149.1 |
|
145.6 |
142.9 |
Subsea
Services |
|
138.0 |
|
133.3 |
110.9 |
Other |
|
8.8 |
|
12.7 |
8.3 |
Total adjusted revenues |
|
758.8 |
|
750.2 |
670.9 |
IFRS 11
impact* |
|
(57.5) |
|
(46.4) |
(28.3) |
TOTAL CONSOLIDATED ** |
|
701.3 |
|
703.8 |
642.6 |
* Effect of
consolidation of joint ventures using the equity
method.
** Consolidated 2014 figures have been restated
according to the implementation of the new accounting
standards.
Half Year average utilization rates for the BOURBON offshore fleet
In % |
|
2015
H1 |
|
2014 |
|
|
H2 |
H1 |
Marine
Services |
|
78.3 |
|
80.5 |
81.2 |
Deepwater offshore vessels |
|
84.9 |
|
85.8 |
87.9 |
Shallow water offshore vessels |
|
81.4 |
|
87.8 |
89.5 |
Crewboats |
|
74.7 |
|
75.3 |
75.5 |
Subsea
Services |
|
73.1 |
|
81.7 |
88.8 |
"Total fleet excluding Crewboats" |
|
81.9 |
|
86.6 |
88.9 |
"Total fleet" average utilization rate |
|
78.1 |
|
80.5 |
81.5 |
Half Year average daily rates for the BOURBON offshore fleet
In US$/day |
|
2015
H1 |
|
2014 |
|
|
H2 |
H1 |
Deepwater
offshore vessels |
|
21,097 |
|
23,350 |
23,008 |
Shallow
water offshore vessels |
|
13,732 |
|
14,307 |
14,070 |
Crewboats |
|
4,837 |
|
5,066 |
5,250 |
Subsea
Services |
|
49,718 |
|
48,622 |
46,452 |
"Total fleet excluding Crewboats" average daily
rate |
|
19,012 |
|
19,938 |
19,541 |
Half Year deliveries of vessels
In number of vessels |
|
2015
H1 |
|
2014 |
|
|
H2 |
H1 |
Marine
Services |
|
4 |
|
15 |
20 |
Deepwater Offshore vessels |
|
3 |
|
6 |
3 |
Shallow water Offshore |
0 |
6 |
9 |
Crewboats |
1 |
3 |
8 |
Subsea
Services |
|
1 |
|
2 |
3 |
FLEET TOTAL |
|
5 |
|
17 |
23 |
Breakdown of BOURBON
adjusted revenues by geographical region
In € millions |
Second quarter |
First half |
Q2 2015 |
Q2
2014
(restated) |
Change |
H1 2015 |
H1
2014
(restated) |
Change |
Africa |
212.5 |
190.8 |
+11.4% |
432.3 |
385.2 |
+12.2% |
Europe
& Mediterranean/Middle East |
57.2 |
55.9 |
+2.3% |
116.3 |
110.0 |
+5.7% |
Americas |
68.9 |
46.9 |
+47.0% |
133.1 |
90.6 |
+46.9% |
Asia |
36.6 |
44.4 |
-17.5% |
77.1 |
85.1 |
-9.3% |
Breakdown of BOURBON adjusted revenues by geographical region
|
|
2015 |
|
2014 (restated) |
In € millions |
|
Q2 |
Q1 |
|
Q4 |
Q3 |
Q2 |
Q1 |
Africa |
|
212.5 |
219.8 |
|
227.2 |
205.3 |
190.8 |
194.4 |
Europe
& Mediterranean/Middle East |
|
57.2 |
59.1 |
|
65.3 |
60.6 |
55.9 |
54.2 |
Americas |
|
68.9 |
64.2 |
|
49.6 |
49.1 |
46.9 |
43.8 |
Asia |
|
36.6 |
40.5 |
|
46.4 |
46.8 |
44.4 |
40.7 |
Other key indicators Quarterly breakdown
|
|
2015 |
|
2014 |
|
|
Q2 |
Q1 |
|
Q4 |
Q3 |
Q2 |
Q1 |
Average
€/US$ exchange rate for the quarter (in €) |
|
1.11 |
1.13 |
|
1.25 |
1.33 |
1.37 |
1.37 |
€/US$
exchange rate at closing (in €) |
|
1.12 |
1.08 |
|
1.21 |
1.26 |
1.37 |
1.38 |
Average
price of Brent for the quarter (in US$/bbl) |
|
62 |
54 |
|
76 |
102 |
110 |
108 |
Half-yearly breakdown
|
|
2015
H1 |
|
2014 |
|
|
|
H2 |
H1 |
Average
€/US$ exchange rate for the half year (in €) |
|
1.12 |
|
1.29 |
1.37 |
€/US$
exchange rate at closing (in €) |
|
1.12 |
|
1.21 |
1.37 |
Average
price of Brent for the half year (in US$/bbl) |
|
58 |
|
89 |
109 |
About
BOURBON
Among the market
leaders in marine services for offshore oil & gas, BOURBON
offers the most demanding oil & gas companies a wide range of
marine services, both surface and sub-surface, for offshore oil
& gas fields and wind farms. These extensive services rely on a
broad range of the latest-generation vessels and the expertise of
almost 12,000 skilled employees. Through its 29 operating
subsidiaries the group provides local services as close as possible
to customers and their operations throughout the world, of the
highest standards of service and safety.
BOURBON provides
two operating Activities (Marine Services and Subsea Services) and
also protects the French coastline for the French Navy.
In 2014,
BOURBON'S revenue came to €1,346.4 million and the company operated
a fleet of 506 vessels as of June 30, 2015.
Placed by ICB (Industry Classification Benchmark)
in the "Oil Services" sector, BOURBON is listed on the Euronext
Paris, Compartment A.
Contacts
BOURBON
Investor Relations,
analysts, shareholders
James Fraser, CFA
+33 491 133 545
james.fraser@bourbon-online.com
Corporate
Communications
Christelle Loisel
+33 491 136 732
christelle.loisel@bourbon-online.com
Media relations agency
Publicis Consultants
Jérôme Goaer
+33 144 824 624
jerome.goaer@consultants.publicis.fr
Véronique Duhoux
+33 144 824 633
veronique.duhoux@consultants.publicis.fr
Vilizara Lazarova
+33 144 824 634
vilizara.lazarova@consultants.publicis.fr
PDF version
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BOURBON via Globenewswire
HUG#1943624