UTRECHT, The Netherlands, August 25, 2015 /PRNewswire/ --
Stork, provider of knowledge-based asset integrity services focusing on the Oil & Gas, Chemical and Power sectors, publishes its half year 2015 results today.
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Highlights HY 2015
Highlights Q2 2015
Arnold Steenbakker, CEO Stork, comments:
"Despite the development of the oil price we have been able to maintain momentum in improving our performance for the sixth consecutive time since the first quarter of 2014. Revenue increased with 8.7% in the first half of 2015. EBITDA improved 25.0% to € 43.5 million. These results confirm the resilience of our business as we provide maintenance, modification and asset integrity related services in primarily existing production facilities.
In the first half year we have seen significant growth in our Colombian business and a very solid performance in Continental Europe. In the UK market conditions will remain challenging. We have restructured our operation in Aberdeen responding to the deferred demand for our services. In Power Services we continue to face weak market conditions in Germany and other power markets in Europe. We are focused on initiatives to expand into other markets and improve productivity.
In response to the oil price development, our customers continue to look at constructive ways to reduce cost in the supply chain, whilst optimising maintenance spend with asset integrity and performance. In the past period we have adjusted our cost base proactively to support customers in maintaining their competitiveness. We remain alert to further opportunities to optimize our cost effectiveness.
The order book and pipeline of opportunities provide Stork a healthy basis to continue to work successfully with our customers to improve their operational performance.
For full press release including HY 2015 financial statements: please visit the Stork website: http://www.stork.com/en/news-media
For more information regarding Stork: please visit http://www.stork.com
For questions related to this press release, please contact:
Investor Relations
Contact: Ton Bruijne - Investor Relations
Mobile: +316-1059-9668
Email: ton.bruijne@stork.com
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