Q1 16 results: revenues were €2.8bn (-6% yoy). The EBIT came in at €179m (+13% yoy), beating consensus estimates at €113m. Net profit was €61m (-21% yoy), above consensus at €43m. Net debt was at €2bn (decreasing from €5.4bn at end-2015 thanks to the capital increase). By division: E&C Offshore contributed €104m to EBIT (vs. €69m in Q1 15), beating our estimate of €58m; • E&C Onshore has been positive again, at €10m (in
27 Apr 2016
Guidance for 2016 confirmed, €200m additional savings
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Guidance for 2016 confirmed, €200m additional savings
Q1 16 results: revenues were €2.8bn (-6% yoy). The EBIT came in at €179m (+13% yoy), beating consensus estimates at €113m. Net profit was €61m (-21% yoy), above consensus at €43m. Net debt was at €2bn (decreasing from €5.4bn at end-2015 thanks to the capital increase). By division: E&C Offshore contributed €104m to EBIT (vs. €69m in Q1 15), beating our estimate of €58m; • E&C Onshore has been positive again, at €10m (in