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Naval Group Wins More Orders

Image: Naval Group

Laxman Pai

French shipbuilder Naval Group received more orders in the first six months of 2019 than the entire 2018 calendar year.

In the first half of 2019 order intake reached €3.853 billion. This is above the €3.4 billion target set for all of 2019 and boosted the order book to €15.5 billion at end June 2019.

International orders represented a large percentage of all new orders at 30 June 2019 and are mainly for new ships. The Belgian and the Dutch mine hunters contract and the design contract for the Australian submarine program have been awarded to Naval Group.

The French order for a sixth Barracuda submarine also boosted Naval Group orders this half, it said.

Frank Le Rebeller, Senior Executive Vice President Finance, Legal and Purchasing, said: "The H1 results for 2019 show a slightly higher than expected operating profit and we have already exceeded our full year order intake target. In addition to the order for a sixth Barracuda submarine, this dynamism is due to a large extent to international orders and in particular to the Dutch/Belgian mine hunters contract and to the Australian design contract. 70% of the order intake is non domestic, highlighting the group's international growth".

In the second half of 2019 Naval Group will keep on improving the competitiveness of its products offering as well as mastering its ongoing programs through on time, costs and quality deliveries, said a press release.

"Operating profitability is therefore expected to increase through 2019 along with the group's share of net profit that should grow by 5% as compared to 2018," it said.

Jul 17, 2019

 

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