Last 0.84 NOK
Change Today -0.05 / -5.62%
Volume 226.2K
CECON On Other Exchanges
Symbol
Exchange
Berlin
As of 10:25 AM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

cecon asa (CECON) Snapshot

Open
0.84 NOK
Previous Close
0.89 NOK
Day High
0.85 NOK
Day Low
0.79 NOK
52 Week High
08/27/13 - 1.79 NOK
52 Week Low
08/15/14 - 0.40 NOK
Market Cap
152.3M
Average Volume 10 Days
246.3K
EPS TTM
-0.66 NOK
Shares Outstanding
181.3M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for CECON ASA (CECON)

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cecon asa (CECON) Details

Cecon ASA operates as an offshore and subsea installation contractor in Norway, west African Continental Shelf, and internationally. The company is involved in the fields of project management, engineering, and subsea installation for the offshore oil and gas, and renewables industry. Its project consists of the installation of rigid and flexible pipelines, umbilicals, and cables. The company lays, repairs, and maintains subsea pipes. Cecon ASA is based in Arendal, Norway.

22 Employees
Last Reported Date: 04/30/14

cecon asa (CECON) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: 2.8M NOK
Chief Financial Officer
Total Annual Compensation: 1.6M NOK
Chief Executive Officer of Rever offshore AS
Total Annual Compensation: 1.0M NOK
Commercial Director
Total Annual Compensation: 1.5M NOK
Compensation as of Fiscal Year 2013.

cecon asa (CECON) Key Developments

Chantier Davie Canada Inc. Delivers 717th Ship Cecon

Chantier Davie Canada Inc. (Davie) announced that hull number 717, the 'Cecon Pride', a multipurpose offshore construction vessel, has been delivered to its client, Norwegian oilfield services company Cecon. Launched in October 2013, the hull was then outfitted and further works were added to the construction program to ensure the vessel could be deployed immediately from the shipyard to Europe, where it will commence offshore construction activities. Built by over 1,000 skilled shipbuilders, Hull 717 is the first in a three-ship construction program at Davie. The 130-meter-long ship is designed to perform a wide variety of functions for the oil & gas, renewable energy and naval market.

Cecon ASA Announces Unaudited Consolidated and Parent Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Cecon ASA announced unaudited consolidated and parent earnings results for the second quarter and six months ended June 30, 2014. For the quarter, on consolidated basis revenues were NOK 19,042,000 against NOK 23,146,000 for the same period a year ago. Operating loss was NOK 12,968,000 against NOK 14,548,000 for the same period a year ago. Loss before income tax was NOK 22,608,000 against NOK 22,546,000 for the same period a year ago. Loss for the period was NOK 22,608,000 against NOK 22,546,000 for the same period a year ago. Diluted loss per share was NOK 0.092 against NOK 0.089 for the same period a year ago. For the six months, on consolidated basis revenues were NOK 23,146,000 against NOK 24,050,000 for the same period a year ago. Operating loss was NOK 21,910,000 against NOK 22,399,000 for the same period a year ago. Loss before income tax was NOK 46,342,000 against profit of NOK 1,219,017,000 for the same period a year ago. Loss for the period attributable to owners of the parent was NOK 43,868,000 against profit for the period attributable to owners of the parent of NOK 1,220,315,000 for the same period a year ago. Diluted loss per share was NOK 0.188 against diluted earnings per share of NOK 4.829 for the same period a year ago. Cash flow used in operating activities was NOK 7,452,000 against NOK 41,460,000 for the same period a year ago. Purchases of property, plant and equipment was NOK 397,021,000 against NOK 458,024,000 for the same period a year ago. For the quarter, on parent basis revenues were NOK 1,010,000 against NOK 138,000 for the same period a year ago. Operating loss was NOK 4,974,000 against NOK 9,841,000 for the same period a year ago. Loss before income tax was NOK 9,908,000 against NOK 13,914,000 for the same period a year ago. Loss for the period was NOK 9,908,000 against NOK 13,914,000 for the same period a year ago. For the six months, on parent basis revenues were NOK 3,092,000 against NOK 1,042,000 for the same period a year ago. Operating loss was NOK 7,487,000 against NOK 15,610,000 for the same period a year ago. Loss before income tax was NOK 17,369,000 against NOK 16,459,000 for the same period a year ago. Loss for the period was NOK 9,908,000 against NOK 16,459,000 for the same period a year ago.

Cecon Signs Agreement for Extend the Maturity of the Senior Tranche A and Tranche B Bonds Up to 31th July

Cecon ASA has signed an agreement that extend the maturity of the senior tranche A and tranche B bonds funded by certain funds and accounts managed by York Capital Management Global Advisors, LLC or its affiliates (York) up to 31th July. The holder of the Tranche A Bonds and the Tranche B Bonds will receive an extension fee of USD 250,000 for the new 15-day extension period. The agreement with York aligns repayment of the construction financing with the planned delivery of the Cecon Pride from the yard in Canada. Cecon Pride is completed for sea-trials, and is to go directly to the agreed contract in the Mediterranean after delivery from the yard.

 

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Price/Book 3.4x
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