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Sembcorp Marine recorded a net loss of $ 55.62 million in the second quarter on the realized loss arising from the sale of a semi-submersible platform and a decline in volume of 39, global business.
The loss per share for the three months prior to June 30 was 2.66 cents, compared to a profit per share of 0.24 cents the previous year.
The turnover was $ 1.63 billion, up from 150.8 The amount of restated turnover was $ 648.85 million, mainly due to the delivery of two self-elevating platforms at Borr Drilling and the sale of the West Rigel semi-submersible rig
. The loss in the first half was $ 50.31 million, compared to a net profit of $ 42.16 million last year.
The group secured $ 730 million worth of engineering, procurement and construction (EPC) projects for the production s The general manager, Wong Weng Sun, said the price change of the Gross would stabilize in a healthier range of $ 60 to $ 75.
is part of the group's efforts to strengthen the offshore and marine value chain. This is made possible by the expanded capacity offered by its mega Tuas Boulevard Yard which is under development.
However, President and CEO Wong Weng Sun noted that the corresponding revenue from these projects will be mainly recognized when they enter the construction phase. . This will come after the completion of detailed engineering and construction planning, which usually extends from six to 12 months.
As a result, SembMarine saw its revenue excluding sales contracts drilling Borr Drilling and West Rigel
But Mr. Wong said that the decision to undertake EPC projects was part of the group's efforts to intensify the marine and offshore value chain. SembMarine also recorded a loss on the sale of the US $ 500 million ($ 682 million) West Rigel platform, but Wong said this was possible thanks to the increased capacity of his mega Tuas Boulevard. Yard. it is at the end of this transaction that the sorting group has "fully monetized" all of its stock of 10 rigs
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IN BRIEF
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REVENUES : 1.63 billion (+ 150.8%)
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NET LOSS : $ 55.6 million (non-significant comparison)
The firm did not provide any updates on the procedures Anticorruption investigation involving a party related to entities engaged by the triage group's subsidiaries.
million. Wong added that the group's $ 329 million provisions for its contracts with Sete Brasil "remain adequate in the current circumstances."
SembMarine began the third phase of development of the Tuas Boulevard courtyard. Wong said incremental developments are synchronized with incoming project requirements and are being undertaken to reduce production costs. The goal is for SembMarine to "leave the premises of Tanjong Kling as soon as possible".
The company will not distribute an interim dividend, as a precautionary measure "to preserve its liquidity in a difficult economic context". He paid an interim dividend of one cent per share last year.
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