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Groupe Bourbon's 2004 turnover : up by 8 % at the close of the third quarter Over the 9 first months of the year, Groupe Bourbon's consolidated turnover reached 809 million euros, an increase of 8% in comparison with the same period for 2003 (+ 11% at constant exchange rates).
Groupe Bourbon's maritime business boosts development on an international scale Up by 17 % over the first 9 months of the year, the international turnover now accounts for 45% of the group's consolidated sales figure. This growth comes from good results on a particularly buoyant bulk transport market and from the dynamic development of marine services for offshore oilfields. Good results from Marine Services With sales of 360 million euros at the close of the third quarter, the Group's maritime business posts an overall growth rate of 20% (indeed 27% at constant exchange rates), fully consistent with the targets set in the business plan for 2003-2007. - Over the first three quarters of the year, the Offshore Marine Services division registered a 24% growth in turnover (27% at constant exchange rates) - in line with forecasts in the business plan. Over the third quarter itself, growth amounted to 5% (10% at constant exchange rates). This figure reflects the incidence of vessel sales and purchases, the resettlement of the Norwegian fleet in new contracts and the impact of the low dollar rate in forward exchange contracts which arrive at maturity. Thus at constant exchange rates and with the exception of Bourbon Offshore Norway, the growth rate over the third quarter would have been 21.7%. The upturn in the world oil market is currently being confirmed and should accelerate in the course of 2005. - The Towage & Assistance business developed by 4% and increased its growth on an international scale (turnover increased by 19% overseas), notably in the Ivory Coast and in Cameroon. Business in France remains in keeping with the economic development of the country. - The Bulk Transport activity continued to benefit from a very buoyant international freight market and registered a growth rate of 33% (43 % at constant exchange rates). As expected, Retailing sales develop internationally and remain steady in France Over the first three quarters of the year, Vindémia's overall turnover developed by 2% (4% at constant exchange rates) while international sales increased by 18%. In Réunion Island, Vindémia registered a volume of business in line with figures for the French market. Over the third quarter, sales dipped by 2%. From the International Retailing outlets, the growth in sales over the first three quarters of the year reached 9% (20% at constant exchange rates). This development was maintained notably by the reopening of the store damaged in Mauritius in 2003, by the extended coverage in Mayotte and by continued growth in Vietnam. Outlook At the close of the third quarter, Groupe Bourbon's level of business confirms the favourable expectations for the year 2004. Paris, November 9th 2004
About Groupe Bourbon: Offering
services on offshore oilfields, in harbour towage, assistance missions
and in bulk transport, Groupe Bourbon ranks as a major international
figure in the maritime service field. Image
7 Groupe
Bourbon |