EMAS Offshore Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended February 29, 2016; Reports Impairment Loss on Property, Plant and Equipment for the Second Quarter of Fiscal 2016
For the six months, LBITDA was USD 108.0 million compared to EBITDA of USD 188.7 million in the same period last year. LBIT was USD 133.8 million compared to EBIT of USD 166.8 million in the same period last year. Basic and diluted loss per share was 0.33 cents compared to earnings of 0.56 cents in the same period last year. Negative return on equity was 31.1% compared to return on equity of 38.3% in the same period last year. Net debt as at 29 February 2016 was USD 560.6 million. Revenue was USD 80.261 million compared to USD 133.622 million a year ago. Loss from operations was USD 145.188 million compared to profit from operations of USD 155.557 million a year ago. Loss before tax was USD 143.232 million compared to profit before tax of USD 161.064 million a year ago. Loss after tax was USD 143.691 million compared to profit after tax of USD 158.066 million a year ago. Net cash flow generated from operating activities was USD 34.350 million compared to USD 1.490 million a year ago. Purchase of property, plant and equipment was USD 76.974 million compared to USD 3.995 million a year ago.
For the quarter, the company reported impairment loss on property, plant and equipment of USD 51.377 million.