Smit Intl. Earnings Up 40%

Thursday, February 09, 2006
Smit International NV announced that net earnings for 2005 have risen by nearly 40% to EUR 38.3 million. Despite facing a heavier tax burden of 30% (up from 24% in 2004), the divisions Harbor Towage, Terminals and Transport & Heavy Lift achieved better results in comparison to 2004. The Salvage division performed well above the so called historical average.

SMIT has served the maritime sector for more than 160 years. SMIT’s services are organised into four Divisions:

• Harbor Towage: harbor towage services and related maritime services.

• Terminals: towage services and related maritime and management services to offshore and onshore terminals.

• Salvage: salvage, wreck removal, environmental protection and consultancy.

• Transport & Heavy Lift: barge rental & transport, ocean, coastal and river towage, heavy lifting and marine support to a variety of civil and offshore projects.

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