12 May 2016

Q1 2016 with positive operating result and an increased order book

Bergen has in Q1 2016 a turnover of NOK 53 million and a opertional profit (EBITDA) of NOK 2 million. The order book has in the quarter increased by NOK 39 million.

CEO Hans Petter Eikeland is pleased with the fact that the extensive structural and organizational changes made in 2015 have given the expected impact in Q1 2016.

“Bergen Group has been through a tough and difficult restructuring process that has been challenging for the employees, our suppliers and shareholders. We are humble and grateful for all the constructive and solution-oriented measures which are in place. We are now working diligently to establish a platform that provides a strengthened basis for profitable operations in the coming quarters”, says Eikeland.

He points out in this context that the Group has an ongoing process with creditors and capital sources in order to finally establish the company's balance sheet and capital structure so that it will ensure adequate liquidity and a more robust financial situation going forward.

The CEO can also rejoice at the fact that the order book has increased by over 25% during the quarter, and is now at 186 million. However, he points out that the market situation in parts of the company's business areas are still expected to be challenging in the coming quarters.

“Bergen Group will consider project-based alliances and forms of cooperation that can strengthen the Group's market position as a major supplier for the offshore, industrial and marine environment in Norway.  In this respect, the remaining operational activity of the group is considered to have an attractive competence and a satisfactory capacity. Hence, we should be an asset in possible forms of cooperation with other actors”, says Eikeland.

Reference is made to the  interim report for Q1 2016 for further details.

Contact persons:
CEO Hans Petter Eikeland, tel. +47 932 08 177 
CFO Nils Hoff (finance), tel. +47 930 92 346 
SVP Corporate Functions & Communications Øyvind Risnes, phone +47 480 48 561