Bourbon toasts 2007 revenue gains

French offshore services giant Bourbon saw annual revenues rise 26.5% year on year to €769.7 million ($1.13 billion) in 2007, chief executive Jacques de Chateauvieux said today.

Chateauview said in a company statement that the gains in turnover had been achieved changes in foreign exchange rates in the period and losses in activity due to the loss of two vessels, the Bourbon Dolphin and the Athena, during the period.

Bourbon saw revenue from its core offshore services sector rise 21.9% to €484.5 million in the period as it took delivery of 13 new supply vessels and 24 crewboats in the period.

Offshore revenues in Bourbon’s Africa operations rose 22.3% to €320.9 million, while turnover in its Europe, Mediterranean and Middle East sector rose 9.9% to €101.1 million. Revenues from its American operations rose 15.6% to €39.2 million while cash flow in Asia surged 159.7% to €23.2 million.

For the fourth quarter Bourbon reported a 13.9% rise in revenue to €198.2 million compared with the same period in 2006, including a 10% gain in offshore revenues to €128.6 million.