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 - These results are not satisfactory, especially in Offshore & Heavy Lift division. At the same time we are beginning to see the results of the extensive measures taken to achieve the Code for profitability, says CEO Björn Andersson.
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.
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 signs contract in Scotland for floating ramp structure
TTS Group ASA has through its subsidiary TTS Port Equipment AB in Sweden signed a contract worth approx. 40 MNOK for an Linkspan upgrade of the facilities at the port of Cairnryan in Scotland.
TTS completes Loch Ryan Port infrastructure
TTS has completed work on the infrastructure of Stena Line’s new state-of-the-art, purpose-built port, located ten kilometres north of its previous location in Stranraer, Scotland.
TTS Marine AB agrees new contract with STX Finland
TTS has further strengthened its position as a top supplier of access equipment for RoRo and cruise vessels with the agreement of a new contract with STX Finland Turku Shipyard for the new environmental friendly passenger ferry for Viking Line.
More TTS equipped car carriers to come
TTS Marine AB continues to equip the world’s fleet of car carriers with cargo access equipment and two additional contracts have been received to supply ro-ro equipment to four further car carriers.
Growth in order book for TTS
In 2010, the TTS Group ASA reported earnings before depreciation (EBITDA) of NOK 3.7 million, compared to a loss of NOK 84.3 million in the previous year. EBITDA in the fourth quarter showed a loss of NOK 13.7 million. – With regard to results, 2010 was weaker than expected. However, the market for our products is recovering. The order intake in the fourth quarter was NOK 1 467 million, which is the highest order intake for one single quarter since the third quarter of 2008. This positive trend has continued in 2011, says Johannes D. Neteland, President and CEO.