Bouygues Offshore First-half 2002 net sales total EUR 578.1 million; Backlog at June 30, 2002 amounts to EUR 1,126.7 million.Business Editors MONTIGNY-LE-BRETONNEUX Montigny-le-Bretonneux is a commune in the southwestern suburbs of Paris, France. It is located 24.5 km. (15.2 miles) from the center of Paris, in the "new town" of Saint-Quentin-en-Yvelines, created in the 1960s, of which it is the central and most populated commune. , France--(BUSINESS WIRE)--July 30, 2002 For the six months ended June June: see month. 30, 2002, Bouygues Offshore (NYSE NYSE See: New York Stock Exchange :BWG BWG Bankwesengesetz (Federal Law on Banking, Austria) BWG Beam Waveguide (antenna) BWG Bundesamt für Wasser und Geologie (Federal Office for Water and Geology, Switzerland) )(Paris:BOS.PA) reported consolidated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 578.1 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 519.2 million), a 12% increase over the prior-year period. The majority of sales were generated in France, other European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. countries including Russia, and Africa. Sales rose by 23.8% in the Offshore, Maritime INTEREST, MARITIME. By maritime interest is understood the profit of money lent on bottomry or respondentia, which is allowed to be greater than simple interest because the capital of the lender is put in jeopardy. and River Works, and Liquefied Gases businesses. Maintenance Service sales increased 56.4% as a result of maintenance work performed under major EPCI EPCI Etablissement Public de Coopération Intercommunale (France) EPCI Enhanced Proliferation Control Initiative EPCI Engineering, Procurement, Construction, and Installation EPCI Electronic Payment Certification Institute contracts and the startup of projects in France, confirming the validity of our strategy of delivering an integrated offering. The growth in these businesses offset lower activity the Chemicals-Refining, Energy-Industry business, as well as in the Onshore on·shore adj. 1. Moving or directed toward the shore: an onshore wind. 2. Located on the shore: an onshore beacon; an onshore patrol. adv. business following the completion of projects in Russia and the startup of the Rhourde Ouled Djemma (ROD) project in Algeria. New orders increased 61.6% to EUR 578.9 million (USD 577.5 million). New orders in the Maritime and River Works, Liquefied Gases and Maintenance Services businesses rose significantly from second-quarter 2001. The decline in Onshore orders resulted from the sale of a 50% interest in Russian Russian associated in some way with Russia. Russian blue a breed of cats with short, dense, silver-tipped blue-colored coat and vivid green eyes. subsidiary Katran K LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , previously wholly-owned, in line with our strategy of developing and consolidating relationships with our Russian partners. Backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. at June 30, 2002 remained high at EUR 1,126.7 million (USD 1,123.9 million) due to a number of orders in the Offshore, Onshore, Maritime and River Works, and Liquefied Gases businesses. Marketing initiatives remain sustained as the award of some major targeted offshore projects has been postponed until the second half. Of the total, 35.9% relates to project work for 2002, 51.2% for 2003 and 12.9% thereafter. From design engineering to start-up Start-up The earliest stage of a new business venture. and maintenance, Bouygues Offshore provides its customers with turnkey See turnkey system. projects in offshore-onshore oil and gas contracting, liquefied gases, maritime and river works and chemicals-refining/energy-industry. Driven by a strong commitment to the energy industry, an on-the-spot presence and a team of talented professionals, we deliver solutions that are safe, innovative and promote the success of our clients and our Company. Further information on the company can be found on line at www.bouygues-offshore.com.
Year-to-date analysis
Six months ended
In million - Unaudited 06/30/2002 06/30/2002 06/30/2001
US $ (1) euros euros
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Offshore
Net sales 204.6 227.8 215.2
New orders 114.1 114.4 139.5
Backlog (end of period) 400.6 401.6 352.9
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Onshore
Net sales 140.5 156.4 186.5
New orders 173.0 173.4 106.6
Backlog (end of period) 371.7 372.6 352.2
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Maritime and River Works
Net sales 26.1 29.1 10.4
New orders 122.2 122.5 10.4
Backlog (end of period) 114.8 115.1 10.5
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Liquefied Gases
Net sales 36.7 40.9 14.9
New orders 64.2 64.4 4.8
Back log (end of period) 142.8 143.2 69.7
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Chemicals-Refining, Energy-Industry
Net sales 16.9 18.8 21.7
New orders 16.6 16.6 29.4
Backlog (end of period) 19.6 19.6 26.0
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Maintenance Services
Net sales 94.4 105.1 67.3
New orders 87.4 87.6 67.4
Backlog (end of period) 74.4 74.6 29.5
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Total Net sales(2) 519.2 578.1 516.0
Total New orders 577.5 578.9 358.1
Total Backlog (end of period) 1 123.9 1 126.7 840.8
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(1) US $ net sales are translated at an exchange rate of Euro 1=US
$ 0.8981 which is the average of the European Central Bank
reference rates from January 1, 2002 to June 30, 2002. New
orders and Backlog are translated at an exchange rate of Euro
1 = US $ 0.9975 which is the European Central Bank reference
rate on June 30, 2002.
(2) First half 2002 net sales included EUR 17.1 million of
operating costs billed directly to single project joint
ventures or expenses billed to customers, compared with EUR
27.7 million in the first-half 2001.
Quarterly analysis
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Second quarter ended
In million - Unaudited 06/30/2002 06/30/2002 06/30/2001
US $ (1) Euros Euros
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Offshore
Net sales 98.5 107.1 120.1
New orders 61.3 61.5 63.4
Backlog (end of period) 400.6 401.6 352.9
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Onshore
Net sales 84.4 91.8 83.8
New orders (19.0) (19.0) 24.8
Backlog (end of period) 371.7 372.6 352.2
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Maritime and River Works
Net sales 17.6 19.1 5.5
New orders 80.1 80.3 9.5
Backlog (end of period) 114.8 115.1 10.5
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Liquefied Gases
Net sales 23.7 25.8 9.9
New orders 36.9 37.0 4.1
Backlog (end of period) 142.8 143.2 69.7
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Chemicals-Refining,
Energy-Industry
Net sales 8.9 9.7 12.7
New orders 11.0 11.0 11.2
Backlog (end of period) 19.6 19.6 26.0
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Maintenance Services
Net sales 51.0 55.5 35.2
New orders 53.4 53.5 32.7
Backlog (end of period) 74.4 74.6 29.5
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Total Net sales(2) 284.1 309.0 267.2
Total New orders 208.7 224.3 145.7
Total Backlog
(end of period) 1 123.9 1 126.7 840.8
----------------------------------------------------------------------
(1) US $ net sales are translated at an exchange rate of Euro 1 = US $ 0.9194 which is the average of the European Central Bank European Central Bank (ECB) Bank created to monitor the monetary policy of the countries that have converted to the Euro from their local currencies. The original 11 countries are: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, reference rates from April 1, 2002 to June 30, 2002. New orders and Backlog are translated at an exchange rate of Euro 1 = US $ 0.9975 which is the European Central Bank reference rate on June 30, 2002. (2) Second quarter 2002 net sales included EUR 9.1 million of operating costs operating costs npl → gastos mpl operacionales billed directly to single project joint ventures or reimbursable re·im·burse tr.v. re·im·bursed, re·im·burs·ing, re·im·burs·es 1. To repay (money spent); refund. 2. To pay back or compensate (another party) for money spent or losses incurred. expenses billed to customers, compared with EUR 16.3 million in the second quarter 2001. |
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