Close
Duro Felguera
You are in: Communication  Press Releases

Press Releases

Press release

Presentation of financial results for first half of 2019

Duro Felguera increases EBITDA to 10.8 million Euros in first half of 2019

The EBITDA obtained in the first half of the year is more than the forecast of 4 million Euros for 2019 projected in the 2019-2023 Strategic Plan.

The parent company's net attributable profit amounted to 0.8 million Euros in the first half of 2019, which is a change in the trend in comparison to June 2018, when a loss 54.9 million Euros was recorded.

The company has successfully resolved the litigation process against Samsung C&T Corporation, whose impact on equity and the income statement for the first half of 2019 was 9 million Euros, in addition to the positive impact of 38 million Euros recorded in 2018.

Monday, 30 de September 2019. Duro Felguera (DF), a Spanish company specializing in the delivery of turnkey projects in the energy, mining & handling and oil & gas sectors, has presented its financial results for the first half of 2019, confirming the progress made by the company in implementing the Strategic Plan 2019-2023.

The EBITDA continued the upward trend recorded in the first quarter of the year after the extraordinary provisioning in 2018 and reached 10.8 million Euros in the first half of 2019. Furthermore, the EBITDA exceeded the forecast of 4 million Euros for 2019 projected in the Strategic Plan 2019-2023 and is a clear improvement on the results obtained in the same period in 2018.

The Consolidated half-year profits attributable to the parent company stood at 0.8 million Euros in the first six months of 2019. This figure represents a change in the trend in comparison to the parent company's net profit in June 2018, when losses amounted to 54.9 million Euros.

In September this year, Duro Felguera successfully resolved the litigation process with Samsung C&T Corporation, whose impact on equity and the income statement for the first half of 2019 was 9 million Euros, in addition to the positive impact of 38 million Euros recorded in 2018.

The company's invoicing figure was 178.4 million Euros in the period from January to June 2019, while it has adopted control measures in its projects that are already reflected in the EBITDA; no additional impairment was recorded.

The company's backlog is still significant and now includes new contracts with major clients signed in this period: ExxonMobil, Repsol, Endesa, Cepsa and British Petroleum.

The company's backlog closed the first half of 2019 at 667.9 million Euros.







© copyright 2019 Duro Felguera, S.A. All rights reserved

Privacy Policy | webControl CMS | Cookies |

Youtube | Twitter