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Kvaerner’s revenue’s plummet

Kværner office at VækerøKværner office at Vækerø. Photo. Kværner

Kvaerner’s operating revenues decreased by more than NOK 600 million

Kvaerner engineering and construction company’s operating revenues decreased by more than NOK 600 million in the first quarter of this year, compared to the same period last year.


Operating revenues fell to 1,554 million, as compared to 2,228 million in the first quarter of 2016. Adjusted operating profits before depreciation and debt (EBITDA) were 105 million for the first quarter of the year, one million less than last year.

‘We have predictable operations in all parts of our business, we have strengthened our competitiveness, and we have an order book that provides increased predictability. Kværner is well positioned to pursue more opportunities we see opening in the market ahead,’ said Kvaerner CEO, Jan Arve Haugan.

The order intake in the first quarter was 6.6 billion, which means that the order backlog has increased to 10.8 billion.


© NTB Scanpix / Norway Today

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