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Harbour Towage Division News

14 Dec 2012

TITAN Salvage Opens Fourth Facility in Cairns, Australia

TITAN's successful salvage of the Tycoon off Christmas Island, Australia

Team Springs into Immediate Action with Successful Rescue and Salvage of Two Stricken Vessels in Waters Surrounding Australia. To meet the needs of changing market conditions and increased commercial vessel traffic in and around the Great Barrier Reef, TITAN Salvage has established a new office and equipment depot in Cairns, Australia. The presence in the Pacific Southeast enhances the company’s marine salvage, wreck removal and emergency response capabilities in the region. With this new depot, also comes the region’s introduction to new subsidiary TITAN Maritime (Australia) Pty.

15 May 2009

SMIT Achieves Net Profit of $38m in Q1 2009

SMIT net profit in the first quarter of 2009 amounts to $38m. The result includes a net contribution of $13.5m from the financial settlement of the Thunderhorse project. Without this exceptional income item, net profit from normal operating activities showed a limited decrease compared to the first quarter of last year. This is mainly due to a lower profit at the Harbour Towage Division and a reduced supply of work at the Salvage Division. EBITDA rose considerably (including the Thunderhorse contribution and the results of associated companies) as compared to the same period in 2008. SMIT’s CEO, Ben Vree, said, “It is obvious that the present recession affects our industry as well.

10 Mar 2009

Smit Internationale NV Exceeds Record

•    Operating result for Harbour Towage increases, partly because of the extended interest in URS. •    Commencement of new contracts leads to growth Terminals. •    Result Salvage exceeds historical average. •    Considerable increase result Transport. •    Strongly improved result Heavy Lift in second half of the year. •    Net profit increases from EUR 105.6 million to EUR 107.8 million. •    Operating result increases 19% from EUR 94.7 million to EUR 112.5 million. •    EBITDA (including associated companies) rises 26% from EUR 159.4 million to EUR 201.0 million. •    Net profit per share decreases 9% from EUR 6.68 to EUR 6.11, owing to the issuing of shares. •    Proposed dividend per share remains EUR 3.00.

16 Aug 2007

Smit Profit Soars 60%

Smit International announced that its mid-year results saw profits soar 60% from EUR 29.7 million to EUR 47.5 million, driven by an extremely busy six months and good results in its salvage division, and strong pricing and utilization in its Transport & Heavy Lift Division. "The exceptionally high results in the second half of 2006 were continued in the first half of 2007, with our net profit rising 60% relative to the first half of 2006,” said CEO Ben Vree. “Particularly the more volatile Salvage and Transport & Heavy Lift Divisions put in a good performance. The contribution of the Terminals Division decreased slightly in the first half of this year due to the transfer of our subsea activities to the Transport & Heavy Lift Division.