Q3 adjusted revenues were €259m (-25% yoy), missing consensus expectations. Outlook 2017: clients increasing maintenance operations and starting projects to expand facilities. H1: Deep and Shallow water still weak; Subsea and Crewboats should benefit from a pick-up in maintenance activity.
03 Nov 2016
Q3 prices stable qoq, but lower utilisation
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Q3 prices stable qoq, but lower utilisation
Q3 adjusted revenues were €259m (-25% yoy), missing consensus expectations. Outlook 2017: clients increasing maintenance operations and starting projects to expand facilities. H1: Deep and Shallow water still weak; Subsea and Crewboats should benefit from a pick-up in maintenance activity.