Emphasized deterioration of the economic performances of STX Europe



In the third trimester of this year the economic performances of STX Europe have a decided deterioration quickly and also the value of the new acquired orders in the period from the navalmeccanico group has remarkablly been reduced. The company has concluded the trimester July-september of this year with a profit of clearly 169 million Norwegian crowns (23 million euros), with a bending of 36.7% regarding 267 million Norwegian crowns in the third trimester of 2011. The revenues are diminished of 14.6% to 4,5 billion Norwegian crowns. EBITDA and EBIT are dropped respective of 49.7% and 55.8% to 327 million and 250 million Norwegian crowns.

The single division Cruise & Ferries has recorded almost stable revenues, that they are piled to 1,9 billion Norwegian crowns (+1.5%), while the EBITDA is come down to three million Norwegian crowns regarding 96 million Norwegian crowns in the period July-september of 2011. The single division Offshore & Specialized Vessels, that it is constituted by society STX OSV Holdings Ltd. quoted to the Stock exchange of Singapore, it has totaled an EBITDA of 332 million Norwegian crowns on revenues for 2,5 billion Norwegian crowns, with bendings respective of 43.6% and 26.8% on the third trimester last year.

In the third trimester of the 2012 group it has obtained new orders in order almost 1,1 billion Norwegian crowns, with a contraction of 73.8% regarding almost 4,2 billion Norwegian crowns in the same period last year. The division Cruise & Ferries has confiscated new orders for 189 million Norwegian crowns (3,0 billion Norwegian crowns in third trimester 2011), while the division Offshore & Specialized Vessels has acquired new orders for 900 million Norwegian crowns (809 million).

The value of the pocketbook orders on 30 September has been attested 26,3 billion to Norwegian crowns, with a decrease of 16.8% regarding 31,6 billion Norwegian crowns on September 30, 2011. The consistency of the orderbook of the division Cruise & Ferries is come down to 9,9 billion Norwegian crowns (- 44.2%) and that of the division Offshore & Specialized Vessels is gone up to 16,3 billion Norwegian crowns (+20.3%).

STX Europe has archived item the first nine months of 2012 with a profit of clearly 535 million Norwegian crowns, with a reduction of 35.5% regarding the period January-september last year. The revenues are increased of 2.2% to 15,4 billion Norwegian crowns, while EBITDA and EBIT are diminished respective of 28.8% to 32.1% to 1,1 billion and 912 million Norwegian crowns.