Q4 15 has been a negative surprise, despite revenue growth at +39% yoy, to €1.2bn, and a backlog at record levels of €12.1bn (+44% yoy), o/w >60% is in the Middle East. The disappointment comes from one-off incremental costs related to a project in Alberta (Canadian Natural Resources Limited is the client). As a result, the company in the quarter posted a €62m loss at the EBIT level (vs. €42m positive EBIT in Q4 14), and a €55m net loss (vs. €36m net profit in
01 Mar 2016
Robust backlog supports 2016, despite low EBIT margin
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Robust backlog supports 2016, despite low EBIT margin
Tecnicas Reunidas SA (TRE:WBO) | 0 0 (-0.4%) | Mkt Cap: 1,410m
- Published:
01 Mar 2016 -
Author:
Marzio Foa -
Pages:
2
Q4 15 has been a negative surprise, despite revenue growth at +39% yoy, to €1.2bn, and a backlog at record levels of €12.1bn (+44% yoy), o/w >60% is in the Middle East. The disappointment comes from one-off incremental costs related to a project in Alberta (Canadian Natural Resources Limited is the client). As a result, the company in the quarter posted a €62m loss at the EBIT level (vs. €42m positive EBIT in Q4 14), and a €55m net loss (vs. €36m net profit in