SOURCE: Dockwise Ltd

August 22, 2007 02:28 ET

DOCKWISE LTD (DOCK): FIRST HALF 2007 RESULTS

BREDA, NORWAY--(Marketwire - August 22, 2007) -


Hamilton, Bermuda, 22 August 2007, DOCKWISE Ltd (DOCK, Norwegian OTC Market), announced today results for the first six months of 2007, which ended on 30 June 2007.

Highlights

* Revenues increased 10.2% to USD 134.9 million (USD 122.5 million in H1 2006)

* Adjusted EBITDA* increased 41.7% to USD 66.1 million (USD 46.6 million in H1 2006)

* Adjusted EBITDA margin amounted to 44.7% (38.1% in H1 2006)

* Total backlog Dockwise Heavy Lift projects amounting to USD 147 million as of 30 June 2007

* Significant milestones in target growth areas achieved

André Goedée, CEO of Dockwise Ltd commented: "The first half year results presented today are a clear mark of the strong underlying performance of the Dockwise group, as evidenced by a 42% rise in adjusted EBITDA and a 10% growth in revenue."

pdf press release: http://hugin.info/137711/R/1148269/219285.pdf

For further information:
Jacqueline Lenterman,
Investor Relations
Tel: +31 (0)6 29 39 39 69

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