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Performance in the first semester of 2004 meets expectations with a +13.2 % increase Groupe Bourbon’s consolidated business turnover showed a 13.2% increase to 545.2 million euros in the first six months of 2004 (corresponding to a 17.7% increase in constant terms).
Groupe Bourbon accelerates international development Boosted by the particularly lucrative dry bulk transportation market, international business turnover now accounts for 46% of the consolidated turnover. Activity in this sector rose 26.8% in current terms and 37.6% in constant terms. Strong performance for the maritime services branch - The Offshore Division, a key component of the Group’s development strategy, rose 34.8% (37.9% in constant terms). The turnover of Bourbon Offshore Norway (formerly Havila) was 16.9 million euros and was not consolidated in the first semester of 2003. Although the basic economic factors in the offshore industry remain good, the business cycle in the marine service sector is difficult particularly in the North Sea and Gulf of Mexico. The performance of Groupe Bourbon is based mainly on its long-term contracting policy. - The Towage, Assistance & Salvage Division showed a 3% increase with constant activity in France and expanded in the international market. - The Dry Bulk Transportation Division showed a 39.9% increase (63.5% in constant terms) riding on an exceptionally strong upswing in that market since the beginning of the year. The retail distribution branch remained steady in France and grew internationally - Reunion: in a highly competitive market, retailing showed the same tendency as in mainland France with a 2.1% increase in business turnover for the first semester of the year. - International: the 17.8% increase in business turnover would be 29% in constant terms. Rapidly expanding Asian markets have boosted activity at outlets in Vietnam, the main source of this strong performance. Prospects All segments of Groupe Bourbon business activities can be expected to continue as in the first six months. Paris, august 10th 2004 About Groupe Bourbon: Offering services on offshore oilfields, in harbor towage, assistance missions and in bulk transport, Groupe Bourbon ranks as a major international figure in the maritime service field. Through its subsidiary Vindémia, the group also operates in the world of mass retailing. Listed on the "second market" of the Paris stock exchange and classified by Euronext in the "Oil Services" category, Groupe Bourbon employs some 8500 staff-members and registered a turnover of a billion euros in 2003. Image
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