Stena AB - 3Q16 Results
Stena AB, the family owned Swedish conglomerate, reported satisfactory results in 3Q16, albeit slightly below our expectations. Revenue decreased by 3% yoy to SEK 9.1bn largely due to lower activity in drilling (20% of 3Q16 revenue) and significantly lower tanker rates in shipping (7% of revenue) this year after last year’s high level. Adjusted EBITDA decreased by 10% yoy to SEK 3.0bn and margins...​
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