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 Today

The Maritime Industry's original and most viewed E-News Service

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

New Products

Barge Master Launches Fit-for-Purpose Gangway

Press release - Barge Master has announced the official launch of a motion compensated gangway after building a track record in motion compensated lifting. ‘The

GOST Debuts New Technology at Workboat

GOST (Global Ocean Security Technologies), celebrating its 10th year as a world leader in marine security, tracking, monitoring and video surveillance systems,

Stern Tube Lubricating Options from PANOLIN

PANOLIN America, Inc. announced it is now offering customers more stern tube lubricating options.    With the success of STELLA MARIS stern tube lubricant, PANOLIN


Damen Crane Barge and Anti-Pollution Barge Delivered

Damen Shipyards Sharjah has delivered two barges, a Crane Barge 4920 and an Anti-Pollution Barge 2405, to BINCO, a contractor in the Middle East with over 30 years

DNV GL Approval for DSIC's LNG-fuelled VLCC Design

DNV GL has presented Dalian Shipbuilding Industry Company Limited (DSIC) with an Approval in Principle (AiP) certificate for a new LNG-fuelled very large crude

USN Issues Full Funding for LCS "Cooperstown"

As part of the Littoral Combat Ship (LCS), the US Navy has awarded to the consortium which includes Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM),

Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.0771 sec (13 req/sec)