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Profitable strong growth in Block Watne Gruppen

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(Oslo 21 February 2007) Operating revenues for the 4th quarter 2006 amounted to NOK 447 million, up NOK 49 million (12.3 %). Operating revenues for 2006 amounted to NOK 1 529 million, up NOK 37 million (2.5 %). EBIT for the 4th quarter 2006 was NOK 84 million, up NOK 18 million (27.3 %). EBIT for 2006 amounted to NOK 241 million, up NOK 31 million (14.8 %). The EBIT margin for the 4th quarter 2006 was 18.8 % and 15.6 % for 2006. The board will propose a dividend of NOK 2.50 per share.
 
- The operating revenues and the operating profit for the 4th quarter 2006 and the year 2006 in Block Watne Gruppen show a strong growth compared with previous years. Combined with growth in new orders, a strong order backlog and expanded production staff, this forms a solid basis for 2007, comments Lars Nilsen, CEO in Block Watne Gruppen
- We see the market prospects for 2007 and 2008 as positive in our core business. Demand in 2007 and 2008 for detached/low-rise houses and flats outside city centres is expected to be on a par with 2006.
 
 
Key figures 4th quarter 2006
  • Operating revenues NOK 447 million as compared to NOK 398 million in the 4th quarter 2005. Growth 12.3 percent
  • Operating profit (EBIT) NOK 84 million as compared to NOK 66 million in the 4th quarter 2005. Growth 27.3 per cent
  • EBIT margin 18.8 per cent as compared to 16.6 per cent in the 4th quarter 2005
  • Profit before tax (EBT) NOK 83 million as compared to NOK 56 million in the 4th quarter 2005. Growth 47.4 per cent
  • New orders NOK 427 million as compared to NOK 335 million in the 4th quarter 2005. Growth 27.2 per cent
  • Cash flow from operating activities is positive with NOK 63 million
Key figures 2006
  • Operating revenues NOK 1 529 million as compared to NOK 1 492 million in 2005. Growth 2.5 per cent
  • Operating profit (EBIT) NOK 241 million as compared to NOK 210 million in 2005. Growth 14.8 per cent
  • EBIT margin 15.7 per cent as compared to 14.0 per cent in 2005
  • Profit before tax (EBT) NOK 218 million as compared to NOK 172 million in 2005. Growth 26.3 per cent
  • New orders NOK 1 686 million as compared to NOK 1 512 million in 2005. Growth 11.5 per cent
  • Order backlog NOK 966 million as compared to NOK 807 million in 2005. Growth 19.7 per cent
  • Cash flow from operating activities is positive with NOK 115 million
  • The board will propose a dividend of NOK 2.50 per share.
 
For more details, see the attached interim report.
 
 
Further information from:
Lars Nilsen, president and CEO, Block Watne Gruppen ASA, tel: +47 23 24 60 00
Ketil Kvalvik, chief financial officer, Block Watne Gruppen ASA, tel: +47 23 24 60 42, +47 90 77 13 15

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