BOURBON Annual & 4th Quarter 2018 Revenues

2018 was marked by the stabilization of activity over the last 3 quarters and adjusted 2018 revenues of €690 million still impacted by the crisis (consolidated revenue €633.9 million) 

• Adjusted 2018 revenues were down by 20% compared to 2017, impacted by the renewal of long-term contracts at market rates.
• With adjusted revenues for Q4 of €175.9 million, the activity has been stable over 3 consecutive quarters, in particular that of Bourbon Marine & Logistics and Bourbon Mobility.
• While Bourbon Subsea Services remains severely impacted by market conditions in 2018, with revenues down by almost 40%, its activity has been steadily improving for the last 3 quarters.

"As a sign of market improvement, we note a recovery in the number of calls for tender, leading to a stabilization of our revenues over the 3 last quarters. However, market recovery is slow. It is therefore more important than ever that we accelerate our transformation in order to bring our clients more added-value services", declared Gaël Bodénès, Chief Executive Officer of BOURBON Corporation.