IMMOFINANZ AG – Earnings update Earnings update 1Q16-ended 31-July-2016: revenue slipped 3.7% YoY to EUR 103.4m, which was due to drop in rental income in its major markets like Russia, Austria and Poland. EBIT dropped 3.6% YoY to EUR 45.3m,… Read More ›
Solstad Offshore the Norwegian offshore vessel contractor, amidst a major debt restructuring, as it repaid its NOK 700m senior unsecured FRN’s due on 25 February 2016. Furthermore, as per the company’s 4Q15 earnings presentations, Solstad had successfully refinanced 65% and… Read More ›
Ocean Rig to end relationship with Dryships by buying back the remainder 40% stake, although operational woes continue.
Ocean Rig UDW Inc. (NASDAQ:ORIG), the Norwegian offshore drilling contractor has agreed to buy all of Dryships’ shares in Ocean Rig for total cash consideration of approximately USD 49.9m via its newly created unrestricted subsidiary, Ocean Rig Investments. Post this… Read More ›
Songa Offshore, the Cyprus-based offshore driller has announced plans to restructure its finances by offering a convertible bond of USD 100m with an option to upsize to USD 125m, raising fresh equity of up to USD 25m at NOK 0.15… Read More ›
Weir Group Plc, the United Kingdom based designer and manufacturer of high-end engineering products and services in FY15 reported 21.3% YoY decline in its revenue to GBP 1.98bn, as order input declined across all its segments. During the period overall… Read More ›
Seadrill’s cost preservation programme boosts adj. EBITDA margin to 55.9% in FY15; however huge debt load maturing in FY16-17 has forced the company to hire a financial adviser.
Seadrill Ltd (SDRL: NYSE), the Norwegian offshore drilling company presented its FY15 results on 26 February, reporting a 13.2% YoY decline in revenue to USD 4.3bn due to prolonged downturn in the offshore drilling market, resulting in higher idle time… Read More ›
Premier Oil’s FY15 top-line down 33% YoY due low oil prices and a slump in volumes; proposed acquisition of E.ON’s North Sea assets for USD 120m.
Premier Oil (PMO:L), the UK based oil and gas company, published its FY15 results on 25 February, reporting a 33% YoY drop in revenue to USD 1.1bn compared to USD 1.6bn in FY14 due to decrease in production volumes and… Read More ›