HMS Group 3Q and 9m 2014 Order Intake
HMS Group releases its order intake for the third quarter and the nine months of 2014.
9m 2014 Highlights:
- Total order intake for 9m 2014 amounted to Rub 24.5bn, up 21% y-o-y
- In industrial pumps business segment order intake grew by 7% y-o-y to Rub 11.1bn
- Oil & gas business segment increased its order intake by 153% y-o-y to Rub 10.6bn
- In compressor business segment order intake contracted by 57% y-o-y to Rub 1.5bn
- In EPC business segment order intake decreased by 41% to Rub 1.4bn
Total order intake amounted to Rub 24.5bn, demonstrating a solid increase year-on-year. Most of this increase came from the large LH-project. Meanwhile, total order intake for the third quarter of the current year contracted to Rub 5.8bn by 18% in comparison with the corresponding period of last year. The main reason of that is intra-year volatility.
The Group’s key industrial pumps business segment showed a stable growth of orders by 7% year-on-year. The order intake for 3Q 2014 showed a minor decrease by 4% year-on-year.
The order intake in the oil & gas business segment more than doubled year-on-year to Rub 10.6bn due to the new large-scale LH-project. The decrease of orders in the 3Q 2014 was attributable to lower loading level of Neftemash’s production facilities due to their reservation for the large-scale projects as well as weaker-than-expected markets.
Decrease of orders for the compressor business segment both for 9m 2014 and 3Q 2014 reflects delays of some targeted tenders in the reporting periods.
Negative dynamics in order intake of the EPC for 9m 2014 was primarily attributable to weak results of the subsidiary Giprotyumenneftegaz (GTNG) from the project and design sub-segment in the first half of 2014. In 3Q 2014, it experienced an increase in orders (+20% in comparison with the corresponding period of last year).The construction sub-segment demonstrated growth in its order intakes both for 3Q and 9m 2014.
Source: HMS Group