Bouygues Offshore Reports First Quarter; Net Sales of Euro 232.7 Million Reports Backlog of Euro 779.3 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)--April 13, 2000 Bouygues Bouygues (Euronext: EN) is a French industrial group listed on Euronext Paris. It is a blue chip in the CAC 40 stock market index, founded in 1952 by Francis Bouygues (educated at the École Centrale Paris, 1946) and since 1989 led by his son Martin Bouygues. Offshore S.A. (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) ) today announced 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 , new orders and 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. for the first quarter ended March 31, 2000. Net sales for the 2000 first quarter were Euro 232.7 million (US $ 229.5 million), including Sofresid sales of Euro 37.3 million (US $ 36.8 million). This compared to first quarter sales of Euro 236.6 million. As expected, the Oil and Gas Contracting segment's net sales decreased from first decreased from first quarter 1999 levels. This reflects the facts that major projects signed in 1999 entered the engineering phase during the first quarter of 2000. Conversly, major projects were in the installation phase during the first quarter of 1999. Backlog reached Euro 779.3 million (US $ 744.5 million), excluding the Blue Stream project signed on November 24, 1999. The Company expects this contract, which is valued in excess of US $ 300 million, to be reflected in its backlog for the second quarter of 2000.
First quarter First quarter First quarter
ended ended ended
3/31/2000 3/31/2000 3/31/1999
In million - unaudited US $ (1) Euro Euro
Oil & Gas Contracting
Net Sales 167.6 169.9 185.4
New Orders 62.6 65.5 428.5
Backlog (end of period) 643.1 673.2 828.5
Maintenance Services
Net Sales 27.8 28.2 31.0
New Orders 32.2 33.7 24.3
Backlog (end of period) 31.5 33.0 31.6
Maritime and River Works
Net Sales 12.1 12.3 17.5
New Orders 2.9 3.0 9.9
Backlog (end of period) 23.3 24.4 58.9
Liquefied Gases
Net Sales 1.3 1.3 2.7
New Orders 0.3 0.3 1.5
Backlog (end of period) 1.9 2.0 5.8
Chemical, Refining, Energy &
Industry
Net Sales 20.7 21.0 -
New Orders 5.9 6.2 -
Backlog (end of period) 44.6 46.7 -
Total net sales 229.5 232.7 236.6
Total new orders 103.8 108.7 464.2
Total backlog (end of period) 744.5 779.3 924.8
(1) US $ sales, are translated at an exchange rate of Euro 1 = US $ 0.9865 which is the average of the European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. Central bank reference rates from January 1, 2000 to March 31, 2000. New orders and backlog are translated at an exchange rate of Euro 1 = US $ 0.9553 which is 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 rate on March 31, 2000. (2) First quarter 2000 net sales included Euro 10.3 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 Euro 10.0 million in the first quarter 1999. Driven by a strong commitment of the energy industry, a growing global presence and a team of talented professionals, we deliver solutions that are safe, innovative and promote the success of our clients and our Company. |
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