![2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA](https://img.yumpu.com/4612021/115/500x640/2012masterpresentation-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
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Funding Growth<br />
• <strong>TTS</strong> has a long history of<br />
successful acquisitions<br />
• Current market conditions and<br />
development is likely to provide<br />
opportunities for further growth<br />
through acquisitions<br />
• Over the last years <strong>TTS</strong> <strong>Group</strong> had<br />
a significant gearing following the<br />
acquisition of the drilling unit<br />
• Sale of drilling unit results in a debt<br />
free company<br />
• Long term <strong>TTS</strong> aim at a gearing<br />
which reflects its cyclic business,<br />
working capital fluctuation and<br />
especially need for financial<br />
flexibility.<br />
• Current target capital structure:<br />
- Equity ratio above 30%<br />
- Net debt/EBITDA below 2
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