HMS Group 1Q 2014 Order Intake
HMS Group releases its order intake for first quarter 2014.
1Q 2014 Highlights
- Total order intake for 1Q 2014 decreased by 12% y-o-y to Rub 6.7bn,
- In industrial pumps business segment order intake totaled Rub 4.1bn, up 24% y-o-y
- Oil & gas business segment order intake increased its order intake by 18% y-o-y to Rub 2.1bn
- In EPC business segment order intake decreased by 82% to Rub 0.2bn
The order intake in the amount of Rub 6.7bn was built exclusively by small and medium-sized contracts signed during the first quarter 2014.
The Group’s key business segments – the industrial pumps and oil & gas equipment - showed a stable growth of orders by 24% and 18% year-on-year respectively.
Negative dynamics in portfolio of orders in the compressor business segment was attributable to the high base of the previous period – in the first quarter 2013 Kazankompressormash (KKM) signed a Rub 1.2bn contract with Lenniikhimmash on delivery of a large order of compressor equipment. Excluding this material contract, the order intake in the compressor business segment grew by 484%.
Lack of orders for the construction sub-segment resulted from the Group’s intension to dispose its oil and gas construction business. HMS Group is no longer focused on obtaining new contracts for its construction subsidiary Tomskgazstroy (TGS).
Decline of the order intake in the project and design sub-segment in the first quarter 2014 comparing with the corresponding period of last year is a result of high quarter volatility of business and it does not provide an objective picture of the segment’s performance.
Source: HMS Group
