Bouygues Offshore S.A. Reports 1998 First Half Net Sales, New Orders And Backlog.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)--August 14, 1998--Bouygues Offshore S.A. (NY :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) ) announced its 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 six months and second quarter ended June 30, 1998. They are as follows: -0-
Half year figures:
Six months Six months Six months Six months
Millions ended ended ended ended
6/30/98 6/30/98 12/31/97 6/30/97
US $(1) FF FF FF
Net Sales(2) 404.0 2,446 2,690 2,293
New orders 418.7 2,532 1,642 2,583
Backlog end of 431.3 2,608 2,522 3,570
period
(1) US$ net sales are translated at an average exchange rate of US $
1 = FF 6.0550 which is the average of the noon buying rates from
January 1st, 1998 to June 30, 1998. New orders and backlog are
translated at an exchange rate of US $ 1 = FF 6.0470 which is the
noon buying rate on June 30, 1998.
(2) 1998 first half net sales and 1997 first half net sales included
respectively FF 106 million and FF 138 million of operating costs
billed directly to single project joint ventures or reimbursable
expenses billed to customers.
-0-
Quarterly figures:
Three months Three months Three months Three months
Millions ended ended ended ended
6/30/98 6/30/98 3/31/98 6/30/97
US $(1) FF FF FF
Net Sales(2) 234.5 1,411 1,035 1,344
New orders 164.9 997 1,535 2,176
Backlog end of 431.3 2,608 3,022 3,570
period
(1) US$ net sales are translated at an average exchange rate of US $
1 = FF 6.0162 which is the average of the noon buying rates from
April 1st, 1998 to June 30, 1998. New orders and backlog are
translated at an exchange rate of US $ 1 = FF 6.0470 which is the
noon buying rate on June 30, 1998.
(2) 1998 second quarter net sales and 1997 second quarter net sales
included respectively FF 67 million and FF 95 million of operating
costs billed directly to single project joint ventures or
reimbursable expenses billed to customers.
-0- Net sales for the six months ended June 30, 1998 increased 6.7% to FF 2,446 million from FF 2,293 million in the first half of 1997. At June 30, 1998, the Company's backlog was FF 2,608 million. It did not include the two contracts awarded by Elf elf, in Germanic mythology, a type of fairy. Usually represented as tiny people, elves are said to dwell in forests, in the sea, and in the air. Although they can be friendly to man, they are more frequently vengeful and mischievous. Exploration Angola in July for the development of the Girassol field; for an amount of approximately FF 2,900 million. The Company expects to release detailed 1998 first half results September 15, 1998. Bouygues Offshore S.A. is a leading international contractor 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 production-related turnkey See turnkey system. projects. The Company also provides maintenance services to the oil production industry, engages in high-end maritime and river-related civil works projects and designs and constructs 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. ) import terminals as well as storage tanks. CONTACT: Mireille Arvier Investor Relations Investor relations The process by which the corporation communicates with its investors. Manager Bouygues Offshore 33-1-30-60-75-06 Email: m.arvier@bouygues-offshore.com or Lynn Morgen/Betsy Brod Press: Terry Rooney-Brian Maddox Morgen-Walke Associates, Inc. 212/850-5600 |
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