March 16, 2017 7:00 AM

Results strongly impacted by an unprecedented crisis in offshore oil and gas services

  • Adjusted revenues of €1.1 billion (Consolidated revenues of €1.021 billion)
  • Adjusted EBITDAR of €383 million (Consolidated EBITDAR of €366.8 million)
  • EBIT impacted by a €36 million impairment loss
  • Net income, group share of -€279.6 million
  • Positive free cash flow of €64.7 million
  • Agreement signed with the main financial partners to reorganize the major part of the group's financial debt
  • Proposal from the Board of Directors to the Shareholders Meeting to pay a dividend of €0.25 per share, payable in cash or shares

“The marine services industry is going through the most acute crisis of the last 40 years due to the sharp slowdown in offshore oil and gas. It is therefore a question of willingness to adapt to weather the crisis, but also to put in place the company’s transformation, because tomorrow will not see a return to yesterday’s model”, says Jacques de Chateauvieux, Chairman and Chief Executive Officer of BOURBON Corporation.

BOURBON is building on the confidence of its customers, local partners and employees, as well as its financial partners, to implement the “Stronger for longer action plan and accelerate its transformation plan.”

 

All information about BOURBON 2016 annual results