For 1H 2017, Scanship delivered their best half year results ever and a record-high order book of NOK 360m. Revenues came in at NOK 117.2m, up 38% from the same period in 2016 and EBITDA before non-recurring items at NOK 11.9m (10.2% margin).
The significant increase in the revenue level mainly relates to the Project segment, which was 67 % higher than in the same period in 2016. This was driven by high activity, both related to engineering and planning of the new contracts awarded during the period, as well as by equipment deliveries and activity on the existing portfolio.
The order backlog is recorded at a record-high level of NOK 360m as of 30 June 2017, compared to NOK 198m at 30 June 2016. During the first six months of 2017 new contracts have been signed for approx. NOK 185m.
In addition, Scanship is well on-track with their game changing MAP technology (Microwave Assisted Pyrolysis). The technology converts garbage, food waste and sludge from wastewater into energy that will significantly reduce aboard fuel consumption and eliminate discharge to sea. The Scanship MAP represents a major future growth opportunity, not only in cruise but also several other markets. There is strong interest in MAP, and several of the largest ship-owners and yards are currently evaluating the technology for future newbuilds and retrofits.
Another promising growth area is the aquaculture segment, where Scanship now has established a footprint with orders to some of the largest new smolt-facility projects to date; Steinsvik for Marine Harvest, Salangfisk, and Sjøtroll for Lerøy Seafood.
See video with presentation and comments from CEO Henrik Badin: https://vimeo.com/231567871
PDF of presentation and report below:
SSHIP First Half Year 2017 presentation
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