![2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA](https://img.yumpu.com/4612021/109/500x640/2012masterpresentation-final-compatibility-mode-tts-group-asa.jpg)
2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Financial Status <strong>TTS</strong> <strong>Group</strong> <strong>ASA</strong><br />
Changes in Joint Venture structure affects revenue<br />
• Originally set up to<br />
accommodate legislation in<br />
China<br />
• Decision to wind down was made<br />
in 2010 and <strong>final</strong> close will be<br />
early 2013 as arrangement no<br />
longer needed. Marginal impact<br />
on EBITDA<br />
• Effects on working capital from<br />
year end approx. 100 MNOK<br />
(MNOK 125 from Q3 last year)<br />
• Compared to 2011, revenues<br />
excluding structure change are<br />
down 12% YTD Q3
Change language