August 25, 2016 11:28 PM ET

Commercial Services and Supplies

Company Overview of Stormgeo Holding AS

Company Overview

Stormgeo Holding AS provides weather forecasting and decision support services to customers worldwide. It offers services in the areas of offshore, onshore, media, renewable, shipping, and aviation aspects. The company was founded in 1997 and is based in Bergen, Norway.

Nordre Nøstekaien 1

Bergen,  5011

Norway

Founded in 1997

Phone:

47 55 70 61 70

Fax:

47 55 70 61 71

Key Executives for Stormgeo Holding AS

Chief Executive Officer and Managing Director
Chief Financial Officer
Head of Onshore and Chief Executive Officer of Stormgeo Inc
Head of Shipping and Chief Executive Officer of AWT
Chief Meteorologist
Compensation as of Fiscal Year 2016.

Stormgeo Holding AS Key Developments

StormGeo Holding AS Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016

StormGeo Holding AS reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported total revenue of NOK 110,489,000 against NOK 105,348,000 a year ago. Operating loss was NOK 688,000 against operating profit of NOK 2,447,000 a year ago. Loss before tax was NOK 15,691,000 against NOK 12,457,000 a year ago. Loss after tax was NOK 12,893,000 or NOK 63 per basic and diluted share against NOK 12,363,000 or NOK 61 per basic and diluted share a year ago. Net cash flow from operating activities was NOK 22,588,000 against NOK 22,021,000 a year ago. Purchase of property, plant and equipment was NOK 4,745,000 against NOK 4,453,000 a year ago. At March 31, 2016, net debt was NOK 318.2 million. EBITDA was NOK 16.1 million compared to NOK 18.3 million a year ago.

StormGeo AS Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016

StormGeo AS reported audited consolidated earnings results for the year ended December 31, 2015. For the year, the company reported total revenue from continuing operations of NOK 456,637,000 against NOK 369,519,000 a year ago. Operating profit was NOK 52,109,000 against NOK 34,675,000 a year ago. Profit before tax was NOK 18,273,000 against loss before tax of NOK 13,831,000 a year ago. Profit for the year was NOK 18,990,000 against loss for the year of NOK 23,278,000 a year ago. Earnings per share from continuing operations basic and diluted were NOK 95 against NOK 155 per share a year ago. Net cash flow from operating activities was NOK 101,017,000 against NOK 64,770,000 a year ago. Purchase of property, plant and equipment was NOK 9,712,000 against NOK 8,911,000 a year ago. Capital expenditure was NOK 42,686,000. For the year 2016, the company expects a modest increase in the Group's revenue, EBITDA and cash flow from operations. The growth is driven by increased activities within the market segments shipping, renewable, onshore and aviation.

StormGeo Announces Launch of ForeSight, New Addition to Suite of Weather Forecasting Services

StormGeo announced the launch of ForeSight, the newest addition to its suite of weather forecasting services. The long-range forecasting service provides 30, 90, and 180 day outlooks to be used in predictive analytics, lending insight to hedge risks and make informed decisions. Industry targets include manufacturing and supply chain, retail, finance, agriculture and energy trading. Using complex data sets, weather models, and the expertise of in-house meteorologists, the company's ForeSight provides actionable weather insight by forecasting long-range global temperature and precipitation anomalies. The service can be accessed online through company's customer portal and includes 24/7 live access to meteorologists as well as on-demand video updates.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
August 9, 2016
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