BOURBON 1st Quarter 2016 financial information
In the 1st quarter 2016, BOURBON adjusted revenues reached €314.5 million (-5.9% compared with 4th quarter 2015), illustrating the strong resilience in a market that is still declining
- Good resistance for the revenues of BOURBON in a market still with significant decline in activity, but with an oil price that is recovering
- BOURBON is the company within the offshore oil services industry that is best resisting the drop in the market
- BOURBON’s good resilience originates from the clients’ preferences, which is reflected in the average utilization rate of the fleet
“In a market where prices are imposed upon everyone, BOURBON is focusing on what it can control: safety, fleet availability, cost control and cash preservation by a proactive policy to stack vessels if necessary” says Christian Lefèvre, Chief Executive Officer of BOURBON. “The group is impacted by the market decline with less intensity and time lag. BOURBON is putting everything in place to be the first one ready for the resumption of activity when it will happen, reducing costs and anticipating the evolution of the clients’ needs vis-à-vis vessels with, as a new paradigm, the digital revolution.”
(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.
