Please find attached the financial report for TTS Group ASA 3Q 2017.
Highlights are:
- 3Q 2017 revenues increased with 4% vs 2Q 2017 to MNOK 578, but lower than the same period last year.
- Continued positive trend in operations with a 3Q EBITDA of MNOK 49 excluding restructuring costs of MNOK 3, hence reported EBITDA is MNOK 46.
- Improved EBITDA margin despite reduced business volume confirms successful implementation of cost reduction program
- YTD EBITDA was MNOK 95 excluding restructuring costs with an EBITDA margin of 5.8% vs 4.3% in 2016. Reported EBITDA of MNOK 55 impacted by restructuring cost of MNOK 40, of which MNOK 3 was related to 3Q restructuring of Services.
- Cash flow from operations has improved MNOK 35 from 2Q to MNOK 59.
Bergen, 7 November 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.
