Oceanteam ASA reports full year 2018 results


OTS. WOW dette var super bra..helt nytt OTS og tjener penger med fullbokket bok fremover. Her kan det bli liv i leieren gitt:)

Oceanteam ASA reports full year 2018 results
Oceanteam is pleased to present its 2018 annual financial report. 2018 was a good year for Oceanteam, further described in the attached report.

The financial restructuring of the Group has been successfully completed. Equity ratio improved materially to more than 70%. Both vessels were under charter contract for the full year, except for a short yard visit of the CSV Southern Ocean to obtain SPS 2008 notation. The Solutions division saw its business growing in 2018. Together, this led to the following results over 2018:

• EBITDA improved to USD 12.2 million in 2018 versus USD 9.8 million in 2017
• Total operating income increased to USD 25.3 million in 2018 versus USD 24.4 million in 2017
• Operating profit of USD 6.5 million over 2018 compared to a loss of USD (24.1) million in 2017
• Net profit from continuing operations of USD 0.9 million, versus a loss of USD (11.5) million over 2017
• Loss for the period was USD ( 0.1) million, versus a loss of USD (12.0) in 2017

Both book value and the fair market value significantly outweigh the secured debt on the joint venture vessels meaning that the Company is not overleveraged. The Company further only has USD 3.1 million shareholder loans for working capital purposes as debt.

With a new shareholder base, the Company completely renewed the management and Board of Directors, all with a proven track record in the offshore business. Mr. Keesjan Cordia is the Chairman of the Board and also a new shareholder in the Company.

Under this new leadership the Company is now transforming itself into an investment platform for Subsea, Solutions, Shipping and other specialised segments in the offshore oil and gas and offshore wind industry.

Leidus Bosman, CEO of Oceanteam ASA says: “2018 was a turbulent and good year for Oceanteam, setting the fundament for a new chapter for the Company. On most financial metrics substantial improvements have been realised: Operating revenue, operating profit, net profit, EBITDA and equity ratio have all showed satisfactory improvements and better results. Also operationally, the metrics were good with high utilisation and outstanding safety statistics. With strong signals that the oil and gas services industry is finally coming out a deep and long recession with oil companies now planning to take more FIDs of their deep water projects in the coming years, and with an excellent outlook for the offshore wind business now rapidly going “global”, the Board and management team is confident about the future prospects for Oceanteam. It hopes to further grow the business in 2019 and maximise shareholder value from the improved outlook.”

The full report is attached to this press release and available at www.oceanteam.no



About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water construction support vessels and fast support vessels. Oceanteam Solutions is a service provider to the renewable and oil and gas industry with the supply of rental equipment for the transportation, storage and handling of subsea cables. Oceanteam has been active in the industry as an offshore solutions provider for over twelve years.


For more information: www.oceanteam.no

For further information please contact:
Leidus Bosman
CEO Oceanteam ASA
T +31 20 535 75 70
leidus@oceanteam.nl
KKKKKK
05.05.2019 kl 14:10 322

Ots vil få et meget bra første halvår da begge båter er på kontrakt samt høy utnyttelse av utleieutstyr.

Pålydende er kr 0,5 og emisjonskurs kan ikke settes lavere uten å endre pålydende.
Bokført ek pr aksje er over kr 0,6 samtidig som ots har et stort fremførbart underskudd tilsvarende kr 0,5 pr aksje.
Styreformann har gått inn med 20 mill nok til kr 0,5
Skipene er verdsatt via to uavhengige verdivurderinger nov 18 til USD 151 mill bokført og har kun USD 55 mill i total gjeld. OTS eier halvparten av begge skipene.
Kort oppsummert her er det mye verdier som prises for lavt.

Hvordan klarer du å beregne er kursen for emi. er 0.5 når dagenskurs er under? Fortsår ikke helt tankegangen din KKK..
KKKKKK
05.05.2019 kl 15:04 285

Pålydende er kr 0,5 og det er ikke lov å hente inn penger under pålydende.

Ots foreslår emisjon uten å endre på pålydende.

Dagens kurs avhenger av tilbud og etterspørsel.Antar emisjon først gjennomføres når kursen er over 0,5. Vet jo ikke men tror håper det.

Ja, da må folk handle ;)
Major1
05.05.2019 kl 17:42 236

Her blir de enten stor oppside eller å sitte fast over lang tid,spennende case tror på oppside men er ikke inne selv.

Pålydende i REC er 1kr de satte emisjon på 0,68. EGF er snart, de ønsker å få muligheten til å utstede nesten 200 millioner aksjer. Jeg tror også det kommer en emisjon veldig snart til ca 0.3. Les alle punktene på EGF og rapporten for 2018 og gjør dere opp en mening.

1. De trenger penger på bok sårt
2. Ønske om å vokse.

Gasman
05.05.2019 kl 18:35 193

Hvis du leser punkt 10 på innkallingen til EGM for REC, ser du at de vil nedsette pålydende til 10 øre for å kunne gjennomføre emisjonen. Ots må gjøre noe tilsvarende for å kunne emittere under kr 0,50, men dette er ikke på agendaen nå.