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

New Products

2 Damen Tugs for KOTUG’s European Harbor Towage

Damen Shipyards Group delivered two sister tugs ATD 2412 ‘ZP Bison’ and ‘ZP Bear’ to strengthen KOTUG’s European Harbour Towage. On April 8th 2015, the sister

Naming Ceremony of Evergreen's EVER LYRIC

Evergreen Group today held the naming ceremony for EVER LYRIC, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place

MacGregor's Pusnes bow loading systems for Suezmax Tankers

MacGregor, part of Cargotec, has secured contracts to supply Pusnes bow loading systems for three newbuild shuttle tankers intended for operations in Brazilian waters.

Shipbuilding

China Shipbuilders may Merge to Stay Afloat

The China's four state-run shipping-related companies  are reportedly in the initial phases of combining units in order to beef up the national shipbuilding industry, says local media.

Chevron Hires Norce Endeavour for Thailand Ops

Solstad Offshore ASA (SOFF) has fixed the 2011-built 18,000 dwt crane barge Norce Endeavour to Chevron for work in Thailand next year for around 200 days.   Solstad

Taiwan's Yang Ming Marine to Add Bigger Vessels to its Fleet

Yang Ming Marine Transport Corporation, Taiwnanese global shipping and logistics services company,  will take delivery of 14 large-sized ships over the next two years,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.2014 sec (5 req/sec)