We are pleased to announce our unaudited interim results for the six months ended 30 June 2019.
(1) Adjusted EBITDA is defined as operating profit before depreciation, amortisation, impairment, performance share plan costs and exceptional items. This is an alternative performance measure used by Directors to assess the operating performance of the Group.
(2) Net debt position is defined as the net cash and cash equivalent balances, less short and long-term borrowings and obligations under leases. This is an alternative performance measure used by investors, financial analysts, rating agencies, creditors and other parties to ascertain a company’s debt position
(3) Order Book is defined as contracted but unrecognised revenue from New Build and Refit projects. It does not include revenue already recognised during the year and it does not include any future value for revenue in the Supply division.
Order Book and Pipeline
The Order Book at 30 June 2019 was in its strongest ever position and provides more forward visibility than ever before:
|Order book at:||Total Order Book||Current Year||Current Year +1||Current Year +2|
|30 June 2019||€38.6m||€15.3m||€18.2m||€5.1m|
|30 June 2018||€29.9m||€11.2m||€13.1m||€5.6m|
|30 June 2017||€15.2m||€12.7m||€2.5m||€0.0m|
Post period end
Remy Millott, Chief Executive of GYG plc, commented:
“GYG has had a strong first half of 2019 and I am pleased that this momentum has continued into H2. Our focus on gaining market share in the New Build sector is delivering solid results as evidenced by our New Build contract wins and the significant increase in the average value of contracts we are tendering for. This, and the normalisation of conditions in the Refit market, has resulted in the Group’s strongest ever forward Order Book at the half year and we look forward to the second half with confidence”.
To view the full announcement, please click here.