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25-07-2007

Stork: second quarter 2007 heavily influenced by major provision for NH90 helicopter



  •        EBIT Q2, before NH90 provision € 36 million
    (Q2 2006: € 36 million)
  •        Additional provision of € 35 million due to previously announced major risks NH90 helicopter
  •        Net result Q2: € 0.3 million, eps: € 0.01
    (Q2 2006: € 82 million, eps: € 2.55)
  •        Turnover 4% higher: € 555 million
    (Q2 2006: € 533 million)
  •        Orders up by 8%: € 560 million
    (Q2 2006: € 520 million)
  •        Order book up by 16%: € 1,161 million
    (Q2 2006: € 1,003 million)
    •  
    CEO Sjoerd Vollebregt: "Apart from the problems with the NH90, overall our activities performed reasonably to well: turnover and orders both rose further. Technical Services performed very well.
    Operating results this quarter were severely overshadowed by a major provision in connection with considerable risks in the NH90 helicopter programme. The need to take this provision is not unexpected, but nonetheless remains disappointing. There are numerous configurations within the programme, leading to additional development costs. The overall programme has also suffered major delays. Because the qualification programme still has two years to go, there are still potential risks.
    The proposed sale of Prints will be concluded in the third quarter; an agreement in principle has now been signed."
     
    Please open the link below to view the complete press release including tables: 

    PDF press release Halfyear results 2007

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