Q4 revenue came in at €397m, reporting a 22.6% yoy decline in H2, with a contraction across the board, driven by Seabed Geosolutions (-58.1% yoy) and Survey (-25.6% yoy). The EBIT margin (excluding exceptionals) was at breakeven in H2 (at 0.8% vs. 3.8% in H2 15), dragged by Subsea Services (-7.3% vs. -11.7% in H2 15) and Seabed Geosolutions (-5.5% vs. a 5.2% profit). The H2 net loss, at -€107m, was worse than expected. Outlook 2017: - Significant revenue decline in H1, but less seve
24 Feb 2017
2017 to yield positive cash flow despite further revenue decline
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2017 to yield positive cash flow despite further revenue decline
Q4 revenue came in at €397m, reporting a 22.6% yoy decline in H2, with a contraction across the board, driven by Seabed Geosolutions (-58.1% yoy) and Survey (-25.6% yoy). The EBIT margin (excluding exceptionals) was at breakeven in H2 (at 0.8% vs. 3.8% in H2 15), dragged by Subsea Services (-7.3% vs. -11.7% in H2 15) and Seabed Geosolutions (-5.5% vs. a 5.2% profit). The H2 net loss, at -€107m, was worse than expected. Outlook 2017: - Significant revenue decline in H1, but less seve