Turnover Increases for Germanischer Lloyd

The continuing shipbuilding boom in the previous year contributed to a positive development in turnover and results at Germanischer Lloyd. Group turnover increased by 18.6% to $405.3m. Given a slightly weakened world real economic growth of around 3% - with unchanged strong impulses from Asia and the USA - international trade continued to show a clear positive trend with an increase of around 7% last year. Profitability improved through higher sales revenues for materials and parts sales, through the increase in new shipbuilding and in the ships in operation. More Staff During the business year 2005, the number of employees increased by 383 + 15% (previous year + 18.5%) to 2,929. 208 new employees were hired for overseas engagements while staff rose by 175 in the Hamburg head office of Germanischer Lloyd. 12.1% of the number of worldwide orders for ship newbuilding On 31 December, the order book for Maritime Services contained 909 ships. This represents a market share of 12.1% of the total number of orders worldwide. For container ships the world market share was just under 41%, for multipurpose vessels Germanischer Lloyd had a market share of 18%. In the previous year a total of 456 ships were delivered to shipowners. Ships in operation increased by 16.5% The ships in operation supported by Germanischer Lloyd grew to 5,823 ships with a total of 55.7 million GT (gross register tonnage) (+16.5%). The average age of the fleet measured against the number of ships was nine years.

Two-figure growth in Industrial Services The Group companies in Industrial Services were able to increase their sales by $18m (+ 26%) to $90m compared to 2004. In total 917 staff were employed in Industrial Services with the business areas Oil and Gas, Wind Energy, Fire Protection, System Certification and Materials and Damage Analysis.

Prospects for 2006 For 2006 economic experts anticipate further worldwide economic growth of around 3%. International trade will grow at a stronger rate than the economy as a whole. Its increase should reach around 7% - a similar level to the previous year. The new business year 2006 started with much promise of success. In the first three months of this year, Germanischer Lloyd recorded two-figure growth in turnover in both Maritime Services and Industrial Services. For 2006 plans are for positive results for the GL Group and in the GL AG in a satisfactory magnitude.