• 2018 July 18 18:31

    Naval Group posts H1 2018 performance results

    Naval Group’s General Management Committee met on 17 July 2018 to examine the accounts of the 1st half of 2018, closed on 30 June.
    Commenting these results, Frank Le Rebeller, Executive Vice President Finance, Legal and Purchasing, indicated in particular: “The results for the first half of 2018 (in accordance with IFRS standards and more specifically the IRFS15 standard) show an increase in our sales and an improvement, as foreseen, of our profitability. They demonstrate the success of our progress plan and confirm the improvement of our operational control. Several major milestones in the French and international programmes have been successfully achieved, in particular the launch of the FREMM Normandie frigate, the continuation of the launch campaign for the F21 torpedo, with three successful consecutive launches, and the transfer of the sub-sections of the first Brazilian submarine to its assembly hall. Furthermore, the group has received notification of the order for the 5th submarine of the Barracuda programme.”

    The order intake over the first half of 2018 accounts for €1.92 billion, bringing the backlog at the end of June 2018 to €13.8 billion.

    The main orders come from both France and international markets. They relate to all of the company’s sectors, from new-build programmes to services or equipment. The main notifications relate to the nuclear attack submarine (SSN) programme, the FREMM frigate programme and the refit of the La Fayette class frigates, as well as an additional order in relation to the Australian Future Submarine (AFS) programme.
    The first half of 2017 benefitted from a particularly high level of order intake due to the notification of the medium-size frigate (FTI) programme.

    Activity: sales up by 10 % to €1.87 billion
    The half-yearly sales accounts for €1.87 billion, representing an increase of almost 10.2 % compared to the first half of 2017 (restated according to the IFRS 15 standard). This is bolstered by the major French national programmes, principally the Barracuda nuclear attack submarines and the FREMM multi-mission frigates. The international markets benefitted from the strong contribution of Brazil and Australia. Services have also contributed significantly, in particular through the modernisation programme for the Charles de Gaulle aircraft carrier and the M51 adaptation programme for the SSBN Le Téméraire.

    Profitability: significant increase in EBITA and operating profit
    EBITA (earnings before interest, taxes and amortisation) is €126.9 million. The return on sales ratio increased from 3.8 % for the first half of 2017 (restated according to the IFRS 15 standard) to 6.8 % for the same period in 2018.

    This sharp progress demonstrates the operational improvement of the programmes and the effectiveness of the actions undertaken for over three years.

    The consolidated net income, group share amounts to €104.6 million, which corresponds to an increase of almost €39 million compared to the first half of 2017 (restated according to the IFRS 15 standard). This strengthens the group’s capacity to finance its future growth.
    Perspectives: maintaining efforts to control costs and lead times

    Throughout the 2018 reporting period, Naval Group will pursue its initiative to continuously improve the competitiveness of its offers and current programmes, both in France and on international markets, driven in particular by the control of costs and lead times. The improvement in profitability in 2017 should continue through 2018 and the consolidated net income group share is expected to increase by around 10%.

    About Naval Group
    Naval Group is the European leader in naval defence. As an international high-tech company, Naval Group uses its extraordinary know-how, unique industrial resources and capacity to arrange innovative strategic partnerships to meet its clients’ requirements. The group designs, produces and supports submarines and surface ships. The group also provides services for naval shipyards and bases. In addition, the group offers a wide range of marine renewable energy solutions. Aware of its corporate social responsibilities, Naval Group is a member of the United Nations Global Compact. The group reports revenues of €3.7 billion and has a workforce of 13,429 (data for 2017).




2018 December 12

19:08 Hapag-Lloyd announces General Rate Increase from East Asia to USA and Canada
18:30 MEYER WERFT handed over AIDAnova to AIDA Cruises
18:21 IMO led panel discussion on wreck removal challenges at Salvage & Wreck Removal Conference in London
18:00 Rosneft develops innovations for Russian Zvezda super-shipyard
18:00 Newbuilding methanol carrier for Proman Shipping named CASTARA
17:46 Damen signs with Port Nelson for ASD Tug 2411
17:37 Almaz shipyard lays down icebreaker of Project 21180М, Yevpaty Kolovrat, for RF Navy
17:14 Comprehensive plan for NSR development to be ready by February 2019 – Yevgeny Ditrikh
16:49 Investments in the Arctic by 2024 estimated at RUB 5.5 trillion - Dmity Kobylkin
16:23 Vladimir Putin orders to look into creation of port SEZ at Olya port in Arkhangelsk Region
15:50 Throughput of Russian seaports in 11M’18 grew by 4.2% Y-o-Y to 746.8 million tonnes (detalization)
15:26 Okskaya Sudoverf launches first dry cargo carrier of Project RSD32M
15:02 American Petroleum Institute (API) awards bolt fatigue testing program contract to DNV GL
14:25 Giant Octopus added to the CPC’s stock of ER equipment
14:01 London hosts global port environment experts
13:20 Pola Anatolia, dry cargo ship of RSD59 design, successfully passed sea trials
13:01 Newcastle Container Terminal to deliver savings for regional NSW
12:36 Sovcomflot BoD considered the Group’s financial plan for 2019 and a forecast for 2020-2021
12:01 Diana Shipping announces time charter contract for m/v Ismene with Koch
11:49 Yury Trutnev appointed as head of revised State Commission for Arctic Development
11:22 Three icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on December 11-12
11:00 COSCO SHIPPING Ports partners with Abu Dhabi Ports to create regional trading hub and Middle East gateway for Belt and Road
10:47 Throughput of Rostov-on-Don port in 11M’18 up 15% Y-o-Y to 22.9 million tonnes
10:20 Brent Crude futures price up 1.16% to $60.9, Light Sweet Crude – up 0.67% to $52.3
10:11 Full bonded area is opened in Port Bronka
10:01 WMU welcomes ITF General Secretary and President
09:59 GTT receives an order for the tank design of two new LNG carriers
09:44 Bunker prices continue going down at the Port of Saint-Petersburg, Russia (graph)
09:16 Baltic Dry Index is down to 1,364 points
08:28 Boskalis Ndurance’ cable trencher successfully tested at Alexiahaven
08:05 Maritime Blockchain Labs announces new consortium to improve crew management

2018 December 11

17:59 ASW Severomorsk of RF Navy's Northern Fleet makes a call to the Republic of Djibouti
17:33 Diesel submarine of RF Navy’s Pacific Fleet conducted training exercise in the Sea of Japan
17:10 Port of Antwerp International to consult USPA on tariff setting, concession and environmental policy
16:46 Van Oord supports the 6th Forum of Dredging Companies as its Sponsor
16:21 Yamal LNG reached full capacity
16:02 Hapag-Lloyd announces rates from Indian Subcontinent & Pakistan to North Europe
15:32 Georgia Ports Authority on track for 4.3M TEUs in 2018
15:20 Four new sponsors confirmed to join line-up at 2019’s Maritime Reconnaissance and Surveillance Technology conference
15:02 Hapag-Lloyd announces rates from Middle East to North Europe
14:48 Draft law on Arctic administration approved in the third reading by Russia’s State Duma
14:32 ECSA welcomes the decision by the EU Commission to update the EU list of ship recycling facilities
14:02 Global Ship Lease announces new long-term charter agreements with CMA CGM
13:32 Maersk Broker Bulk Chartering and Wonsild Dry to merge as of January 2019
13:15 Throughput of port Kavkaz in 11M’18 grew by 13% Y-o-Y to 45.61 million tonnes
13:02 COSCO SHIPPING Ports and Abu Dhabi Ports inaugurate CSP Abu Dhabi Terminal
12:46 Throughput of Russian seaports in 11M’18 grew by 4.2% to 746.81 million tonnes
12:13 Alfa Laval sells more than 100 GCU units for LNG newbuilds
12:01 Overseas Shipholding Group and American Shipping Company jointly announce extension of tanker charters
11:44 One icebreaker escort operation performed in eastern part of Gulf of Finland during 24 hours on December 10-11
11:40 The second phase of IMO-implemented safe and sustainable ship recycling project in Bangladesh starts
11:17 Bunker prices are flat at the Far East ports of Russia (graph)
10:58 NYK сoncludes long-term charter agreement for three LNG carriers with MC
10:30 MAN Cryo and partners develop marine liquid-hydrogen fuel-gas system
10:05 Port of Gdansk reports new quarterly record
09:39 Brent Crude futures price up 0.37% to $60.19, Light Sweet Crude – up 0.31% to $51.16
09:16 Baltic Dry Index is up to 1,385 points

2018 December 10

18:08 US major retail container ports imports reach 2 million containers in October 2018
17:50 Taganrog Sea Commercial Port spent USD 67,300 for its environmental programme in 9M’2018, up 6% YoY
17:27 Icebreakers of FSUE Rosmorport assisted 322 ships in navigation season 2018-2019