Triyards has won vessel orders worth US$175 million (which excludes owner furnished equipment), resulting in visibility into the financial year ending 31 August 2017.
The vessel orders for two enhanced BH450 series liftboats will be the third and fourth in the series to be built by Triyards. Each of these lattice-legged vessels will stand at more than 130m (approximately 450ft) tall and will be able to operate in water depths of up to 105m. Among the tallest available currently, the BH450 can accommodate up to 250 personnel and is suitable for a wide range of offshore, clean and renewable energy projects such as windfarms.
Triyards also reported its financial results for 3Q in fiscal year 2015. Net profit attributable to shareholders came in at $5.4 million on revenue of $63.9 million, mainly from four liftboats that had progressed into advanced stages of construction.
The advanced completion of these four vessels also contributed significantly to Triyards’ strong operating cashflow of $33.1 million for 3Q of fiscal year 2015, compared with an outflow of $9.3 million previously. As a result, its net debt (total external indebtedness net of cash and cash equivalents) to equity ratio decreased from 0.5 times to 0.3 times as at the end of fiscal year 2014.
Image: Facility/Triyards
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