Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Oslo Bors  >  SD Standard Drilling Plc    SDSD   CY0101550917

SD STANDARD DRILLING PLC

(SDSD)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

SDSD: FOURTH QUARTER 2018 FINANCIAL RESULTS

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/14/2019 | 01:00am EDT

NOTE: THE COMPANY IS AN INVESTMENT ENTITY AND SHALL NOT CONSOLIDATE ITS SUBSIDIARIES.

(Limassol, 14 February 2019) S.D. Standard Drilling Plc (Standard Drilling, OSE:SDSD) had a positive adjusted EBITDA of USD 0.3 million in the fourth quarter of 2018 from the underlying operations of Platform Supply Vessels (PSVs) (Q4 2017: USD -0.1 million), with a utilization of 90% on the five fully owned large-sized PSVs (Q4 2017 84%). The company has zero debt, cost effective operations, low overhead cost and is well positioned to take part in the expected upturn in the PSV market during 2019.

Standard Drilling is an investment entity and shall not consolidate its subsidiaries. Consequently, the company measures it's investments in PSVs based on fair value estimates from reputable independent valuers. Revenues and EBITDA from chartering out the vessels are not consolidated into, nor reflected in the financial statements. Consequently, Standard Drilling reported an operating profit of USD 1.56 million in the fourth quarter of 2018 (Q4 2017: USD 3.6 million), following unrealized gain on revaluation of financial assets of USD 2.3 million.

The group had an underlying positive adjusted EBITDA, excluding non-recurring cost and dry dock, special survey, maintenance and repair, in the fourth quarter 2018 of USD 0.3 million (Q4 2017 USD -0.1 million). The utilization of the large-sized PSV’s was 90% in the quarter (Q4 2017 84%), and 91% for the year 2018 (2017 80%). The total cash balance was USD 25.6 million at the end of 2018, including pro-rata ownership of the subsidiaries and investments, up from USD 15.2 million at the end of 2017. The company has no debt.

"Standard Drilling expects there will be an upturn in the PSV market in the North Sea Sector during the spring and summer season 2019. With an available fleet of modern and cost efficient PSVs, low overhead costs and a strong financial position with no debt, the company is well positioned to take part of the expected upturn. Further, the company will take advantage of opportunities that may appear within the market the company operates in, " says Martin Nes, Chairman of the Board of Standard Drilling Plc.


Standard Drilling owns 100% of five large-size modern PSVs. In addition, the
company has invested in 13 mid-size PSVs, bringing the total fleet of partly and
fully owned vessels to 18 PSVs, including one vessel on a bare-boat contract.
ENDS
For additional information, please contact: 
General Manager, Evangelia Panagide at +357 99 77 11 16  
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard Drilling|www.standard-drilling.com S.D. Standard Drilling was founded in 2010. The company currently has 100% ownership interest in five large-size Platform Supply Vessels ('PSVs') and an indirect ownership interest in thirteen mid-size PSVs including one vessel on a 1 year bare- boat contract.

Click here for more information: https://newsweb.oslobors.no/message/469491

© Oslo Bors ASA, source Oslo Stock Exchange

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SD STANDARD DRILLING PLC
06/05SD STANDARD DRILLING : SDSD- Minutes from Annual General Meeting in S.D. Standar..
PU
04/24SD STANDARD DRILLING : S.D. Standard Drilling Plc. (the "Company") to acquire on..
PU
04/16SD STANDARD DRILLING : S.D. Standard Drilling Plc - 2018 Annual Report
PU
04/12SD STANDARD DRILLING : S.D. Standard Drilling Plc ("SDSD") - Sale of NWS vessels
PU
03/21SD STANDARD DRILLING : S.D. Standard Drilling Plc ("SDSD") - New term contracts ..
PU
02/14SDSD : Fourth quarter 2018 financial results
AQ
01/22SD STANDARD DRILLING : S.D. Standard Drilling Plc ("SDSD") – Fleet update a..
AQ
2018SD STANDARD DRILLING : Mandatory notification of trade – espen lundaa
AQ
2018SD STANDARD DRILLING : MANDATORY NOTIFICATION OF TRADE – MARTIN NE
PU
2018SD STANDARD DRILLING : MANDATORY NOTIFICATION OF TRADE – ESPEN LUNDAA
PU
More news
Financials ($)
Sales 2019 25,6 M
EBIT 2019 7,26 M
Net income 2019 13,0 M
Finance 2019 24,9 M
Yield 2019 -
P/E ratio 2019 6,42
P/E ratio 2020 3,85
EV / Sales 2019 2,27x
EV / Sales 2020 1,43x
Capitalization 83,1 M
Chart SD STANDARD DRILLING PLC
Duration : Period :
SD Standard Drilling Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SD STANDARD DRILLING PLC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 0,26 $
Spread / Average Target 83%
EPS Revisions
Managers
NameTitle
Evangelia Panagide General Manager
Martin Nes Chairman
Christos Neocleous Chief Financial Officer
George Crystallis Independent Non-Executive Director
Constantinos Pandelides Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SD STANDARD DRILLING PLC19.16%83
SINOPEC OILFIELD SERVICE CORP41.53%5 712
CHINA OILFIELD SERVICES LIMITED12.88%5 578
HELMERICH & PAYNE4.28%5 448
TRANSOCEAN LTD-11.10%3 853
PATTERSON-UTI ENERGY, INC.16.04%2 300