Bouygues Offshore Reports Third Quarter and Nine Months Financial Highlights; Net Sales Increase 24%; Reports Backlog of Euros 1,027.9 Million.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)--Oct. 14, 1999-- 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 nine months ended September September: see month. 30, 1999. Net sales for the 1999 first nine months rose 24% to euro 728.5 million (FF 4,779 million), compared to euro 588.3 million in the 1998 same period. This figure includes sales from Sofresid, which the Company acquired in May 1999 and consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: from July July: see month. 1, 1999. Excluding Sofresid's acquisition, the growth would have been 18%. New orders reached euro 1,059.2 million. At the end of September, the backlog totaled euro 1,027.9 million. Approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 26% of the backlog relates to project work for 1999, 61% for 2000 and 13% for 2001 and thereafter.
Year-to-date analysis :
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Nine months Nine months Nine months
ended ended ended
9/30/1999 9/30/1999 9/30/1998
In millions - unaudited
US $ (1) Euro Euro
----------------------------------------------------------------------
Oil & Gas Contracting
Net Sales 595.1 553.7 415.1
New Orders 931.6 866.8 742.1
Backlog (end of period) 955.9 898.2 568.0
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Maintenance Services
Net Sales 98.2 91.4 105.6
New Orders 86.9 80.9 114.1
Backlog (end of period) 29.9 28.1 45.6
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Maritime and River Works
Net Sales 60.9 56.7 50.5
New Orders 34.6 32.2 29.1
Backlog (end of period) 44.6 41.9 65.2
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Liquefied Gases
Net Sales 6.5 6.0 17.1
New Orders 2.9 2.7 5.4
Backlog (end of period) 3.9 3.7 8.1
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Chemicals and refining
Net Sales 6.9 6.5 n.a.
New Orders 13.5 12.6 n.a.
Backlog (end of period) 6.5 6.1 n.a.
----------------------------------------------------------------------
Energy and industry
Net Sales 15.2 14.1 n.a.
New Orders 68.8 64.0 n.a.
Backlog (end of period) 53.1 49.9 n.a.
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Total net sales (2) 782.8 728.5 588.3
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Total new orders 1,138.3 1,059.2 890.7
Total backlog (end of period) 1,093.9 1,027.9 686.9
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(1) US$ net sales, are translated at an exchange rate of Euro 1 - US
$ 1.0748 which is the average of the noon buying rate of the Euro
from January 1, 1999 to September 1999. New orders and backlog
are translated at an exchange of Euro 1 - US $ 1.0643 which is
the buying rate on September 30, 1999.
(2) Nine months 1999 net sales included euro 39.6 million of
operating costs billed directly to single project joint ventures
or reimbursable expenses billed to customers, compared with euro
25.1 million for the first nine months 1998.
Quarterly analysis :
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Third Third Third
quarter quarter quarter
1999 1999 1998
In millions - unaudited
US $ (3) Euro Euro
----------------------------------------------------------------------
Oil & Gas Contracting
Net Sales 188.0 179.2 144.8
New Orders 171.0 163.0 450.3
Backlog (end of period) 955.9 898.2 568.0
----------------------------------------------------------------------
Maintenance Services
Net Sales 28.9 27.6 42.5
New Orders 30.7 29.3 49.1
Backlog (end of period) 29.9 28.1 45.6
----------------------------------------------------------------------
Maritime and River Works
Net Sales 19.1 18.2 23.8
New Orders 1.3 1.2 4.5
Backlog (end of period) 44.6 41.9 65.2
----------------------------------------------------------------------
Liquefied Gases
Net Sales 2.3 2.2 4.3
New Orders 0.3 0.3 0.8
Backlog (end of period) 3.9 3.7 8.1
----------------------------------------------------------------------
Chemicals and refining
Net Sales 6.8 6.5 n.a.
New Orders 3.1 3.0 n.a.
Backlog (end of period) 6.5 6.1 n.a.
----------------------------------------------------------------------
Energy and industry
Net Sales 14.8 14.1 n.a.
New Orders 7.0 6.7 n.a.
Backlog (end of period) 53.1 49.9 n.a.
----------------------------------------------------------------------
Total net sales (4) 259.9 247.8 215.4
Total new orders 213.4 203.5 504.7
Total backlog (end of period) 1,093.9 1,027.9 686.9
----------------------------------------------------------------------
(3) US$ net sales, are translated at an exchange rate of Euro 1 - US
$ 1.0493 which is the average of the noon buying rate of the euro
from July 1, 1999 to September 30, 1999. New orders and backlog
are translated at an exchange of Euro 1 - US $ 1.0643 which is
the buying rate on September 30, 1999.
(4) Third quarter 1999 net sales included euro 15.5 million of
operating costs billed directly to single project joint ventures
or reimbursable expenses billed to customers, compared with euro
9.0 million in the third quarter 1998.
-0- Bouygues Offshore S.A. is a leading international contractor contractor n. 1) a person or entity that enters into a contract. 2) commonly, a person or entity that agrees to construct a building or to provide or install specialized portions of the construction. serving the oil and gas industry, specializing in providing integrated solutions for the design, construction, installation and management of offshore and 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. oil and gas turnkey See turnkey system. projects. The Company also provides maintenance services to the oil industry, engages in maritime and river-related civil works projects and provides design, engineering and construction in : liquefied natural gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. (LNG LNG (liquefied natural gas): see under natural gas. ), chemical and refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar , and energy and industry. |
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