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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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<strong>TTS</strong> Joint Venture Operations in China<br />
• Joint Ventures are recognized in<br />
the financial statements according<br />
to the equity method. <strong>TTS</strong> <strong>Group</strong><br />
includes only its share (50%) of<br />
profit after tax in financial reports<br />
• Turnover in Joint Ventures in 2011<br />
exceeded NOK 1 billion<br />
• Increased turnover also in Q3 2012<br />
• A weak market for bulkers lead to<br />
lower order intake and some<br />
cancellations in the quarter<br />
• Still solid order backlog<br />
Numbers are on a 100% basis and in MNOK.
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