Kvaerner delivers bottom line growth in Q3

Norwegian yard group Kvaerner closed the third quarter with an improved bottom line against the same period last year. The orderbook, however, has shrunk during 2016.

Kvaerner left the third quarter this year with what the yard group calls a "solid operational performance in a challenging market." Overall the report shows gains compared to the company's negative development in the second quarter 2016.

In the third quarter this year, the yard group's revenue declined to USD 333 million from USD 443 million in the same period last year. The adjusted operating result (adjusted EBITDA) came to USD 32.5 million, an increase from USD 20.4 million in the third quarter last year.

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