Good profit again in 2008
With an operating profit of 27.7 m DKK in 2008 Babcock & Wilcox Vølund A/S had a good and stable year. We have obtained good profit for the third year in a row.
We are satisfied with the result, as it has fulfilled our expected goals and is on a level with the results of the previous years.
As expected, only two major jobs were concluded and delivered in 2008. We received several bookings in 2008, in total amounting to 842 m DKK. Subsequently the backlog increased by 263 m DKK during the year to the final amount of 784 m DKK. The result contributes to the fact that the equity of the company has increased to 79 m DKK. Furthermore, the cash position developed very satisfactorily in 2008 ending with a cash position of more than 100 m DKK at the end of the year.
We expect that the result of 2009 exceeds the result of 2008, as we trust that the financial crisis will not have any significant impact on the result for 2009.
