Improved Q3 performance – new and more market oriented corporate structure in place
The TTS Group ASA’s Q3 operating profit before depreciation was MNOK 2, a significant improvement compared to a loss of MNOK 80 in the corresponding period last year. - We are still in the middle of a demanding turnaround that will only take full effect on group earnings from 2015 and 2016, but the development so far this year shows that the course is set right. As cost-cutting measures proceed at full strength, we also put into place a more customer- and market-oriented corporate structure, says Björn Andersson, CEO of TTS Group ASA.
Continued focus on profitability
TTS Group ASA operating loss before depreciation (EBITDA) in the second quarter of 2014 was MNOK 10, compared to a loss of MNOK 28 in the first quarter of 2014
Substantial measures to regain profitability
In 2013 TTS Group had an operating loss before depreciation (EBITDA) of MNOK minus 40, compared to a profit of MNOK 157 at the year 2012. – The results of 2013 were far weaker than expected. Number of measures have taken to improve profitability and the effect of these measures is expected to materialize during this and next year. Market outlooks for TTS ahead is perceived as positive, says CEO Björn Andersson.
TTS supplies prestigious urban development program
As Stockholm is rebuilding the city’s largest port, Värtahamnen, TTS Group will supply passenger walkways as part of the ambitious project.
Wire Luffing Crane Product Range Transferred to TTS NMF
Following the acquisition of Neuenfelder Maschinenfabrik GmbH (NMF) in 2012, the former wire luffing crane company, TTS-LMG, has been merged into TTS NMF. NMF will now take care of all wire luffing crane business for TTS.
Orders for Offshore Cranes and Hangar Doors
TTS have recently received orders for three offshore cranes and a specially designed hangar door for customers in Brazil, Japan and Poland.
Equipment for specialized Ro-Ro vessel ready for delivery
TTS has supplied an electric operated stern ramp/door on the specialized Ro-Ro vessel "m/s Sigrid" for the Swedish shipowner SKB.
Increase in PostPanaMax Car Carriers orders
The new Panama Canal, to be completed in 2014, has shown an increase in orders for upgraded car carriers. So far in 2013, TTS has received orders for equipment for 12 PostPanaMax car carriers.
TTS expands service cooperation with Suomen Satamatekniikka Oy in Finland
TTS Group ASA has through its subsidiary TTS Liftec Oy formed a service concept with the Suomen Satamatekniikka Oy in Finland concerning their translifter vehicles.
TTS to deliver cassette system for container terminal in Indonesia
TTS Group has through its subsidiary TTS Port Equipment AB signed an agreement to supply seven translifters together with 90 cassettes for the PT. Terminal Petikemas Surabaya in Indonesia.