Scanship continued the growth in the second half of 2017, and new milestone contracts were booked. Profits and margins improved significantly, as higher activity and increased revenues were combined with only marginal changes in staffing and other operating expenses.
Total revenue in 2H2017 was MNOK 130.7, an increase of 51% compared to 2H2016. EBITDA was MNOK 15.5, up from minus MNOK 3.9 in 2H2016.
Revenue for the full year 2017 was MNOK 247.9, up from MNOK 171.6 in 2016. EBITDA for the year was MNOK 26.0 in 2017, up from minus MNOK 3.4 in 2016.
Growth in cruise
"The second half of 2017 saw a series of milestone contracts and agreements being signed and our order backlog reached an all-time high MNOK 469. In the cruise segment, contracts were confirmed for six news ships, including one for a fifth RCCL's Oasis class ship, four Leonardo class ships for NCL and one for Silversea Cruises ", says Henrik Badin, Chief Executive Officer at Scanship.
"At the same time, we continue developing new solutions for the future. We have signed an agreement with Virgin Cruises concerning our MAP Waste to Energy - a technology that will significantly change waste treatment at sea", Badin says.
Aquaculture market emerging
"Within aquaculture, we have already delivered our first system for onshore smolt facilities, and three more are underway. In November we partnered with renown industry players to convert bio residues from fish farming into fertilizer", Badin says.
Please see the attached Second Half Year 2017 Financial report and Presentation.
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