Please find attached the financial report for TTS Group ASA 2Q/1H 2017.
Highlights are:
- 2Q 2017 revenues increased with more than 10% vs 1Q 2017 to MNOK 556, but notable lower than the same period last year.
- Continued positive underlying operations, with a 2Q 2017 EBITDA excl. restructuring of MNOK 36. Reported EBITDA was MNOK 29.
- Improved EBITDA margin despite reduced business volume confirms successful implementation of cost reduction program
- 1H EBITDA was MNOK 46 excluding restructuring costs. Reported EBITDA of MNOK 9 impacted by restructuring cost of MNOK 37, of which MNOK 30 in 1Q from restructuring cost in Multipurpose/General cargo, and MNOK 7 in 2Q related to restructuring of the corporate functions.
Bergen, 28 August 2017
TTS Group ASA
http://www.ttsgroup.com
Contact persons:
Toril Eidesvik
CEO
M: +47 900 78 218
Leiv Kallestad
CFO
M: +47 958 95 661
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
