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TTS Group ASA (TTSM.OL)

TTSM.OL on Oslo Stock Exchange

3.70NOK
10:57am EDT
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Latest Key Developments (Source: Significant Developments)

TTS Group: extension and amendment of subordinated convertible bond loan
Wednesday, 8 Mar 2017 02:33am EST 

TTS Group ASA : Extension and amendment of subordinated convertible bond loan . Suggests making changes to NOK 95,345,000 8.00 per cent TTS Group ASA Convertible Callable Unsecured Subordinated Bond Issue 2011/2016 .changes mainly entail 21 months' delay of the maturity date from April 18, 2017 to January 18, 2019, changing the interest rate from 12 pct to 10 pct p.a., as well as offering the bondholders voluntary repurchase of the outstanding, in total up to 10 pct.  Full Article

TTS Group Q4 EBITDA down at NOK 13 million
Wednesday, 15 Feb 2017 02:06am EST 

TTS Group ASA : Q4 turnover 758 million Norwegian crowns ($90.26 million) versus 842 million crowns year ago . Q4 order intake 446 million crowns versus 937 million crowns year ago . Q4 EBITDA 13 million crowns versus 29 million crowns year ago . Says has order backlog (2.7 billion crowns at end-Q4) that covers more than 80 pct of expected new-build turnover for 2017 . Expects reduced activity in 2017 compared to 2016 . Expects stable turnover in 100 pct owned units, but somewhat reduced activity in 50 pct owned Chinese companies .Still expects a weak offshore market in foreseeable future.  Full Article

TTS Group sells subsidiary TTS Liftec Oy to Novatech Aps
Thursday, 2 Feb 2017 06:39am EST 

TTS Group ASA : Entered into an agreement to sell subsidiary TTS Liftec Oy in Finland to Novatech Aps in Denmark . Agreed value of transaction is a gross base price of 5.8 million euros ($6.3 million) including net cash . Transaction is expected to be completed within mid Feb. 2017. .50 pct of proceeds from sale of TTS Liftec Oy will be applied as downpayment on existing term loans..  Full Article

TTS Group signs a new contract for cargo access equipment
Monday, 5 Dec 2016 02:45am EST 

TTS Group ASA : Signs a new contract for cargo access equipment . Total order value is about 33 million Norwegian crowns ($3.9 million) .Deliveries taking place during 2017-2019.  Full Article

TTS Group Q3 EBITDA swings to profit of NOK 41 mln
Tuesday, 15 Nov 2016 01:41am EST 

TTS Group ASA : Q3 EBITDA 41 million Norwegian crowns ($4.85 million) versus loss 12 million crowns year ago . Says particularly sees short-term challenges within car carrier and heavy lift segments . Q3 revenue 741 million crowns versus 805 million crowns year ago . Q3 order intake 784 million crowns versus 598 million crowns year ago .Says Q3 order backlog was 3.01 billion, of which about 0.6 billion crowns is expected to be turned into revenue in Q4.  Full Article

TTS Group Q2 turnover up at NOK 822 million
Thursday, 18 Aug 2016 01:53am EDT 

TTS Group ASA : Q2 turnover 822 million Norwegian crowns ($100.4 million) versus 816 million crowns year ago . Q2 EBITDA 32 million crowns versus 138 million crowns year ago . Q2 order intake 639 million crowns versus 868 million crowns year ago .At end of Q2 2016, order backlog was 3.3 billion crowns, of which about 1.3 billion crowns is expected to be turned into revenue in H2 2016.  Full Article

Palfinger Marine decides not to complete acquisition of TTS Group
Monday, 15 Aug 2016 02:24am EDT 

TTS Group ASA : Palfinger Marine Gmbh has decided not to complete the acquisition of TTS Group ASA . Says will now fully concentrate energy on execute executing stand-alone strategy .Short term focus will be on operational efficiency, says Toril Eidesvik, CEO.  Full Article

Palfinger Marine will not complete voluntary offer for shares in TTS Group
Monday, 15 Aug 2016 01:38am EDT 

TTS Group ASA : Said on Sunday, Palfinger Marine GmbH had not received acceptances for more than 90 percent of shares in TTS on a fully diluted basis .As a result, Palfinger will not complete voluntary offer for outstanding shares in TTS Group.  Full Article

TTS Group receives 10.000 tons ship lift order to Casablanca Port
Monday, 1 Aug 2016 02:51am EDT 

TTS Group ASA : TTS Group ASA has secured a new contract for delivering a 10.000 tons ship lift to Casablanca Port in Morocco with an order value of about 135 million Norwegian crowns ($16.00 million) . The contract is with Civils Contractor Somagec for their Casablanca Port development project . TTS's delivery includes design and key-component package for a shiplift and transfer system .Completion will be in Q1 2018.  Full Article

TTS Group signs new hatch cover contract
Monday, 18 Jul 2016 05:15am EDT 

TTS Group ASA : TTS Group ASA has secured a new contract for delivering hatch covers to three Bulk Carriers which are under construction at a Chinese shipyard . The total order value is approx. 28 million Norwegian crowns ($3.31 million) .The deliveries will take place during 2017-2018.  Full Article

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