Q2 results: order intake was €1.5bn, o/w €0.9bn in Subsea and €0.6bn in Onshore/Offshore. The backlog stood at €13.5bn (€18.8bn in Q2 15). The adjusted revenue came in at €2.8bn (-9% yoy), broadly in line with consensus estimates. The operating profit came in at €260m (-8% yoy), beating consensus. The underlying net income was €175m (-4% yoy), also above consensus (although the reported figure was slightly below). Cost-cutting: €900m to be delivere
28 Jul 2016
Operating income 2016 raised to higher end of range
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Operating income 2016 raised to higher end of range
Q2 results: order intake was €1.5bn, o/w €0.9bn in Subsea and €0.6bn in Onshore/Offshore. The backlog stood at €13.5bn (€18.8bn in Q2 15). The adjusted revenue came in at €2.8bn (-9% yoy), broadly in line with consensus estimates. The operating profit came in at €260m (-8% yoy), beating consensus. The underlying net income was €175m (-4% yoy), also above consensus (although the reported figure was slightly below). Cost-cutting: €900m to be delivere