ODIM Raises Full Year Revenue Forecast20/08/2008 |
| ODIM raises its revenue forecast for 2008 by 10% to NOK 2.2 billion (USD0.41 billion) after another quarter with record numbers. Revenues increased to NOK 502.1 million (USD93 million) and exceeded the NOK500 million mark in quarterly revenues for the first time ever. EBITDA reached NOK 91.4 million (USD16.97 million), lifting EBITDA-margin to 18.2%. |
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An order intake of record high NOK 969 million (USD179.94 million) lead by a strong quarter for the seismic segment, put order back at all-time high of NOK 2,629 million (USD49 million) by the end of quarter. The strong result is mainly driven by the high level of activity in the offshore service sector which is expected to be maintained going forward. As an important part of the expansion plan in Asia, ODIM is in the process of establishing an office in Shanghai, China.
ODIM sees a substantial upside in China. The country is among the largest shipbuilders and is building up its oil- and offshore related construction business. In addition to delivering directly to this particular network, ODIM also sees a good potential for supplying own networks in both Vietnam and Europe from China. Birger Myklebust was recently appointed head of Asia. Mr Myklebust has over 20 years working experience from the region. Read more about: Construction Seismic OffshoreSupplier: Odim ASA More news from this supplier: Deepwater Contract from China ODIM Orders in North America Chinese Seismic Contract ODIM Sets for Growth in Asia Chinese Seismic Order 3D Seismic Contract for ODIM New-generation Anchor Handling System Biggest Seismic Contract Contracts for Odim ODIM Aims for USD 0.38 Billion Revenues Improving Spain's Oceans Quality Aqua Vision Representatives Network Call for Papers US Hydro 2009 IVS 3D Partners with Escort Ltd. in Poland HYPACK 2009 Hydrographic Surveying Training Beijing NCG Information Partners with IVS 3D Veripos Management Appointment I-Tech Honoured Software For Side Scan Sonars New Chief Executive for IMarEST From Spring 2009 
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