Q3 results: order intake stood at €1.5bn, o/w €0.5bn in Subsea and €1.0bn in Onshore/Offshore. The backlog stood at €12.3bn (€17.5bn in Q3 15). The adjusted revenue came in at €2.9bn (-6% yoy), above consensus estimates. The operating profit was €285m (-3% yoy), beating consensus. The underlying net income was €203m (+10% yoy), also above consensus. Cost-cutting: €900m to be delivered in 2016, in line with previous guidance; the total programme is
27 Oct 2016
Strong Q3 and upbeat outlook for 2017
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Strong Q3 and upbeat outlook for 2017
Q3 results: order intake stood at €1.5bn, o/w €0.5bn in Subsea and €1.0bn in Onshore/Offshore. The backlog stood at €12.3bn (€17.5bn in Q3 15). The adjusted revenue came in at €2.9bn (-6% yoy), above consensus estimates. The operating profit was €285m (-3% yoy), beating consensus. The underlying net income was €203m (+10% yoy), also above consensus. Cost-cutting: €900m to be delivered in 2016, in line with previous guidance; the total programme is