Vallianz 2Q Profits Surpass Expectations

Vallianz Holdings Limited, a fast growing provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has remained firmly in the black despite weaker business conditions in the global offshore oilfield services market. The Group today reported a net profit of US$4.6 million for the three months ended 30 June 2015 (“2Q 2015”).
 
The Group’s revenue continued to grow strongly in 2Q 2015 with a gain of 68.6% to US$65.0 million. The Group’s EBITDA (earnings before interest, depreciation and amortisation) for 2Q 2015 climbed 44.1% to US$21.3 million. At the bottom line, higher finance costs and foreign exchange loss reduced the Group’s net profit by 20.9% in 2Q 2015.
 
CEO of Vallianz, Mr Ling Yong Wah said, “The Group continued to post higher revenue and a profitable performance against a challenging period for the global offshore services industry. This set of results for 2Q2015 demonstrates the resilience of the Group’s business model and our ability to successfully ride through periods of market volatility in the oil and gas industry.”