IHC Caland Profit Up

Tuesday, January 30, 2001
Dutch IHC Caland NV said on Monday preliminary net profit rose eight percent in 2000, and reflected on a "difficult and often frustrating year." Net profits are expected to be 75 million euros ($69.4 million), compared with 69.5 million in 1999. The figure came in at the low end of analysts expectations, but at exactly the level the company predicted in September. Company watchers had forecast the company's net profits would be 75.3-77.2 million euros, with a consensus at 76.3 million euros.

IHC Caland, whose products range from oil platforms to dredgers to luxury passenger liners, also said it expected full-year 2001 net profits to at least match the 2000 level, with volatile oil markets delaying new orders. "As was reported at the half-year figures, these delays have important consequences for the group regarding its (order) completion dates and profitability in the year 2001," the company said in a statement. Analysts said the conservative forecast could prevent the company's shares from re-testing the high of 61.40 euros reached in October.

"Expectations of at least 75 million profits next year is not very bullish. Based on that, the share price will certainly not rise," said Allard de Buijzer, analyst with Fortis Bank. The group's order book stood at 2.849 billion euros at the end of 2000, compared to 2.169 billion at the end of 1999. The order book for dredgers and specialized shipbuilding stood at a record high of 778 million euros, it added.

Given expected increases in oil sector expenditures for exploration and production, Caland said it expected to be successful in obtaining a "significant share" of the large number of tenders likely to emerge in the coming year. "On the whole, management is optimistic about the possibilities for the group over the middle to long term," the company said.

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

New Products

DMW Marine Takes the Lead in Military Cranes

DMW Marine Group, LLC. has completed a number of projects for the U.S. Navy and foreign Navies in recent years, claiming a place as a go-to supplier for Navy departments globally.

Torqeedo Introduces New Deep Blue Inboard

Torqeedo now offers a shaft drive version of its 40 and 80 horsepower Deep Blue motor. An electric drive designed for marine use from the ground up, the Deep Blue inboard shares the safety,

Protea to Launch Heavy-Lift Cranes at Nor-Shipping

Protea, a global manufacturer of offshore handling equipment, will launch two types of heavy lift cranes at Nor-Shipping 2015 in Oslo, June 2-5. Tomasz Paszkiewicz,

Shipbuilding

ERMA Bullish on Ballast Water Treatment

After having delivered several BWTS systems in Kita Nihon shipyard in Japan, one more ERMA FIRST BWTS was successfully installed onboard the Bulk Carrier M/V SCARABÉ(DWT: 60,

USS Freedom (LCS 1) Completes Rough Water Trials

The littoral combat ship USS Freedom (LCS 1) completed Seakeeping and Structural Loads Trials, commonly referred to as Rough Water Trials (RWT) in late March the Navy reported May 21.

Conrad Announces Management Team Changes

Conrad Industries, Inc. announced the appointment of Scott J. Theriot as Executive Vice President and Chief Operating Officer.   Johnny Conrad, President and Chief Executive Officer,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1137 sec (9 req/sec)