Solid performance in challenging markets
Highlights Q3 2015
Order book at EUR 1,034 million (2014: EUR 1,276 million) predominantly impacted by deferrals of contract extensions and negative exchange rates.
Organic growth 2.3%1) in the quarter. Revenue EUR 381.7 million (2014: EUR 385.1 million).
Strong performance in Colombia. UK market continues to be tough.
EBITDA2) improves to EUR 24.4 million (2014: EUR 23.3 million). Margin up 40bp to 6.4%.
In August, the oil price further declined to $ 42 a barrel, the lowest level in 6 years.
Highlights YTD 2015

Revenue increase of 5.2% to EUR 1,126 million (2014: EUR 1,070 million). Organic growth 4.6%.
EBITDA improves by EUR 9.8 million to EUR 67.9 million (2014: EUR 58.1 million). Margin up 60bp to 6.0%.
Operational cash flow3) improves by EUR 13.0 million to positive EUR 2.7 million (2014: negative EUR 10.3 million).
Giovenco acquisition

Acquisition of Giovenco Industries (Aust) Pty Ltd (“Giovenco”) in Australia completed on 9th October 2015.
The acquisition more than doubles Stork’s scale in Australia in the growing LNG maintenance market.
The company generates revenues of AUS$ 150 million and has 875 employees.
Doetinchem sale

On 1st September 2015, Stork announced that it had sold the company’s operations in Doetinchem, the Netherlands.
VINCI Energies in the Netherlands acquired the Doetinchem operations, with an annual turnover last year of 15 million euro, and continues the industrial automation and building facility activities under the brand names Actemium and VINCI Facilities.
Financial summary
niet over te nemen

Arnold Steenbakker, CEO Stork, comments:
“Despite the current environment of oil price volatility we report the 7
th quarter on quarter performance
improvement. We are maintaining the quality of the order book by a continued focus on risk management
and margins. With an order intake of EUR 327 million, our current order book is solid and has a healthy
pipeline of opportunities.
The industry is increasingly calling for more efficiency in the supply chain, creating opportunities for us to
drive operational improvements. Our goal is to maintain our leading market positions and to realize
controlled growth. This calls for discipline in the work we pursue and for flexibility within our
organization to proactively respond to industry developments. Not only in terms of the adjustments we
have made to our cost base, but also by expanding our footprint in markets that are positioned for growth.
The latter being demonstrated by the recent acquisition of Giovenco Industries in Australia, which
significantly strengthens our position to support customers when the currently completed LNG facilities go
into operation.
We will continue to work with our customers to improve their operational performance by delivering a full
range of maintenance, modifications and asset integrity services.”
Order book
Order book declined to EUR 1,034 million impacted by the currency depreciation of the Colombian peso,
postponements and timing differences. However, there have been several key contract wins and
extensions in the quarter particularly in the UK and the Americas. There is a healthy pipeline of
opportunities and extension options.
Revenue
Organic growth in the quarter was 2.3%. Depreciation of the Colombian peso resulted in a slight revenue
decline of 0.9% to EUR 381.7 million. Industrial Services Americas continued its strong performance in the
year supported by a significant contribution of turn around work and projects in Colombia. In Continental
Europe we have successfully completed a major project. The continued challenging market circumstances
have impacted revenue development in the UK.

see more on
http://www.stork.com/downloads/20151026_Press_release_Stork_Q3_2015_Results.pdf