3rd Quarter 2009 - Offshore & Specialized Vessels continuing the
positive trend
(Thomson Reuters ONE) - STX Europe AS reported an EBITDA result NOK 96 million for the thirdquarter of 2009, up from NOK 45 million in the corresponding periodlast year. Offshore & Specialized Vessels showed continued progressin the quarter with an EBITDA result of NOK 163 million, which was animprovement from the NOK -84 million in the corresponding period lastyear. During the third quarter STX Europe successfully delivered fivevessels reflecting a continuous high level of activity and goodoperational performance. Order intake in the quarter was NOK 400million, resulting in an order backlog at the end of the first ninemonths of 2009 of NOK 28 344 million comprising 54 vessels.After the reporting period, at the end of October 2009, STX Europesuccessfully delivered the world's largest cruise ship, "Oasis of theSeas", from its yard in Finland to Royal Caribbean Cruises.During the first nine months of 2009, STX Europe had revenues of NOK21 815 million, a slight decrease from the corresponding period lastyear. STX Europe delivered a total of five vessels in third quarter.The order intake was NOK 4 773 million year to date September,compared with NOK 8 806 million in the corresponding period lastyear. The order backlog at the end of the period amounted to NOK 28344 million, comprising 54 vessels.The Cruise & Ferries segment achieved had an EBITDA margin for thethird quarter of -1.2 percent. This reflects lower utilization levelat the cruise and ferry yards in Finland and France and, thus,increasing capacity costs. The production and deliveries of cruiseand ferry vessels have overall been satisfactory and according toplan.The EBITDA margin for Offshore & Specialized Vessels was 5.9 percentfor the third quarter of 2009, as compared with -3.1 percent in thesame period of 2008 - reflecting improved operations and highactivity level.The Norwegian Florø shipyard has a remaining orderbook of twovessels, where the last is scheduled for delivery in March 2010. Inorder to meet new demand, the yard will undergo restructuring and inthe future specialize in service and maintenance of offshore andtraditional commercial vessels.The Board of Directors is pleased that the improvement measures arecontinuing to result in better operational performance and withsatisfactory financial performance for the Offshore & SpecializedVessels segment. While the Board of Directors believes the medium andlong term outlook for the Cruise & Ferries segment is promising, thereduced capacity utilization at these yards create certain short termchallenges. The Board of Directors is committed to continue with theimprovement processes and to strengthen the company's position as theworld's premier shipyard group for construction of large cruisevessels and advanced offshore services vessels.Please find enclosed the full version of the third quarter report for2009.--------------- END -----------------Contact information:Headquarter:STX Europe ASKarenslyst allé 57P.O. Box 453 SkøyenOslo, NorwayTel: + 47 21 02 15 00Investor relations:Hans-Jørgen WibstadSenior Vice President Finance & OrganisationTel: +47 21 02 15 00Mob: +47 91 68 96 61DisclaimerThis press release includes and is based, inter alia, onforward-looking information and statements that are subject to risksand uncertainties that could cause actual results to differ. Suchforward-looking information and statements are based on currentexpectations, estimates and projections about global economicconditions, the economic conditions of the regions and industriesthat are major markets for STX Europe AS and its subsidiaries andaffiliates (the "STX Europe Group") lines of business. Theseexpectations, estimates, and projections are generally identifiableby statements containing words such as "expects," "believes,""estimates" or similar expressions. Important factors that couldcause actual results to differ materially from those expectationsinclude, among others, economic and market conditions in thegeographic areas and industries that are or will be major markets forthe STX Europe Group's businesses, oil prices, market acceptance ofnew products and services, changes in governmental regulations,interest rates, fluctuations in currency exchange rates and suchother factors as may be discussed from time to time. Although STXEurope AS believes that its expectations and the information in thisPress release were based upon reasonable assumptions at the time whenthey were made, it can give no assurance that those expectations willbe achieved or that the actual results will be as set out in thisPress release. Neither STX Europe AS nor any other company within theSTX Europe Group is making any representation or warranty, expressedor implied, as to the accuracy, reliability or completeness of theinformation in the Press release, and neither STX Europe AS, anyother company within the STX Europe Group nor any of their directors,officers or employees will have any liability to you or any otherpersons resulting from your use of the information in the Pressrelease.STX Europe AS undertakes no obligation to publicly update or reviseany forward-looking information or statements in the press release,other than what is required by law.The STX Europe Group consists of many legally independent entities,constituting their own separate identities. STX Europe is used as thecommon brand or trade mark for most of these entities. In this pressrelease we may sometimes use "STX Europe," "Group, "we," or "us,"when we refer to STX Europe companies in general or where no usefulpurpose is served by identifying any particular STX Europe company.http://hugin.info/134984/R/1352174/327038.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.11.2009 - 09:23 Uhr
Sprache: Deutsch
News-ID 7827
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 309 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"3rd Quarter 2009 - Offshore & Specialized Vessels continuing the
positive trend"
steht unter der journalistisch-redaktionellen Verantwortung von
STX Europe ASA (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
