August 24 - TTS Group ASA's multipurpose and general cargo unit posted a turnover of NOK38 million (USD4.6 million) in Q2 2015, an improvement on takings in Q2 2014.
TTS reported an EBITDA of NOK700,000 (USD86,000), compared to an EBITDA loss of NOK11.7 million (USD1.4 million) in Q2 2014. It is expected that orders signed in Q2 2015, primarily contracted to jointly controlled Chinese company TTS-SCM, will result in increased activity in the coming quarters.
TTS also reported that both the car carrier and heavy lift market were showing signs of continued positive growth. "We expect significantly increased activity in China in the heavy lift segment, and new contracts within the car carrier segment," said Björn Andersson, TTS ceo.
TTS posted an overall operating profit (EBITDA) of NOK137.8 million (USD16.9 million) in Q2 2015, results that Andersson states indicate "positive, long-term opportunities" for the group.