Rolls-Royce Marine H1 2013 Strong Revenue Increase

MarineLink.com
Friday, July 26, 2013
Image courtesy of Rolls-Royce

Revenue increased by 16%, reflecting OE volume from improvement in the Offshore sector, services growth in Offshore and Naval and foreign exchange benefits. However profit decreased by 8% due to adverse revenue mix, pricing pressures and warranty charges, partially offset by cost reduction and favourable foreign exchange.

The order book increased 10% including an order intake of £1.7bn (£2.2bn in H1 2012). The decrease in new orders primarily reflects the UK Ministry of Defence £1.1bn order for submarine reactor core capability in H1 2012, partially offset by the new £0.8bn enabling contract this year for the Ministry of Defence submarines.

Significant orders in the first half also included:

o A 10-year enabling contract with the MoD that will sustain up to 2,000 jobs in the UK and deliver up to £200 million savings to the MoD for nuclear propulsion systems for the UK's existing and future submarine flotilla.
o A contract with Detroit Chile SA for the delivery of offshore cranes to four platform supply vessels (PSVs) under construction at Detroit Brasil Ltda. shipyard, in Itajaì, Brazil.
o An £11m contract with the Brazilian shipyard Aliança S/A Industria Naval e Empresa de Navegacao, a subsidiary of Fischer Group, and Brazilian ship owner Asgaard Navegação S.A for the design of and delivery of equipment to two offshore vessels for Asgaard.
o A contract for the Promas integrated rudder and propulsion system with ship builder Fincantieri Cantieri Navali Italiani S.p.A for two cruise ships for Viking Cruises.
o A contract to supply our innovative Promas Lite propulsion system to German based company AIDA Cruises as part of a technical upgrade of their Sphinx series cruise ships.

 

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

People & Company News

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

Ukraine Arrests Turkish Ship for Visiting Crimean Port

Turkey owned merchant ship flying the flag of Tuvalu was arrested by Ukrainian authorities over a visit it made to a port in Crimea, reports Reuters. The ship's captain detained.

USCG Flush Ice down River Systems to Facilitate Shipping

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Marine Propulsion

Schmiedag and Wildauer Schmiedewerke: 'We Forge Partnerships'

Olaf Wiertz, Sales Director at Schmiedag GmbH (SDG) and Wildauer Schmiedewerke GmbH & Co. KG (WSW) said: “We are more than just a supplier to our customers – we are their partner.

Lack of Ship Definition is a Threat to Investors

AKD says the lack of an unambiguous term to describe a ‘ship’ in several jurisdictions represents a potential threat to asset security for financiers, particularly

Rolls-Royce Propulsion for Polar Research Vessel

Rolls-Royce informs it has been awarded a contract by shipbuilder Fincantieri to supply a fully integrated propulsion system for Norway’s new Polar Research Vessel,

Finance

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

Carnival Sails to Profit

The world's largest cruise company Miami-based Carnival Corp reported a net profit of $49 million, or 6 cents per share in the first quarter ended Feb. 28.   That

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2322 sec (4 req/sec)