Half-year results 2015
BOURBON 1st Half 2015 Results: Adjusted EBITDAR generated by the fleet reached €290.4 million, a 26% increase compared with the 1st half 2014
Paris, 9 september 2015
Record adjusted EBITDAR is the result of:
- Fleet size increase of 2.6%
- 96.4% availability rate, well above target
- Positive impact of the US$ exchange rate
In the first half of 2015, adjusted EBIT of €48.8 million, excluding capital gain, increased 40% compared with H1 2014 and was stable compared with the previous semester due to:
- Good cost management
- Positive impact of adjusted EBITDAR generated
- Negative impact of utilization rate (-3.4pt) and of the average daily rates in dollars (-2.6%)
Net Loss (group share) limited to €19.2 million
During the first half of 2015, free cash flow amounted to €127 million
“In the current market environment, clients are looking to their service providers to help them achieve their cost reduction objectives”, says Christian Lefèvre, Chief Executive Officer of BOURBON. “BOURBON has been responding to its clients’ needs through cost control initiatives and improving operational efficiency. In the first half of 2015, we have once again exceeded the targets set, by achieving a technical availability rate of 96.4% for the entire fleet. Thus, BOURBON is delivering to its clients the safest, most efficient and cost effective operation possible.”
