Kvaerner Masa-Yards Releases Financial Results

Monday, November 10, 2003
The Aker Kvaerner Group has published its results for period of January-September 2003. Kvaerner Masa-Yards Business Area produced for this period an EBITA and operating profit of EUR 73 million (575 MNOK) and a net sales of EUR 625 million (4.930 MNOK). Compared with the same period of 2002, net sales decreased by 20,0% and operating profit increased by 10,7%. "Kvaerner Masa-Yards' financial performance has been very satisfactory during the first nine months of 2003 and better than that of the same period of 2002. Increased cost efficiency, a result of focused action and change programs during the past few years, has more than compensated for impacts from the decreased business volume in 2003," said Jorma Eloranta, President and CEO of Kvaerner Masa-Yards. "In September 2003 Kvaerner Masa-Yards and Royal Caribbean Cruises Ltd. signed a building contract on a new cruise ship for delivery in May 2006, the Ultra Voyager. Despite this important contract and slightly improved demand prospects in our main market, Kvaerner Masa-Yards' production loading will decrease over the next coming quarters and the financial performance will consequently also decline from the levels we have seen in 2002 and 2003," continued Jorma Eloranta.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

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.

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

 
 
Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1045 sec (10 req/sec)