Ulstein Reports Improved 2013 Results

Ulstein Group reported it delivered a good result for 2013 with an operating income of NOK 2.3 billion compared to 2012’s result of NOK 2.27 billion. Similarly, Ulstein’s operating profits improved in 2013 to NOK 317.8 million from NOK 228 million in 2012. The group’s operating result before tax was NOK 360.8 million, compared to NOK 211.4 million in 2012.

Ulstein said it currently has more than 40 vessels in order, of which six to be built at its own yard, while the rest are being built at several shipyards worldwide. At the end of 2013, Ulstein Group had an order reserve of NOK 2.6 billion.

“We have worked long-term and strategically to get where we are today,” said CEO of Ulstein Group, Gunvor Ulstein. “Selling design and equipment packages worldwide gives good ripple effects back into the maritime cluster. High competence, extensive experience and focus on project management make deliveries of ships to agreed price, quality and time possible.”

Ulstein also delivered the IMR vessel Seven Viking in 2013, a vessel Ulstein calls a next generation offshore construction vessel built for operations in the harshest environments has set a new standard in the North Sea. Additionally, Ulstein delivered three platform supply vessels of PX121 type design from our own yard last year. Nordic American Offshore bought the three PSVs and additional four PX121 vessels.

Ulstein declares innovation as a long-term priority, investing NOK 146 million in research and development in 2013. Gunvor Ulstein underlines that Ulstein will strive to maintain its driving force in this area: “Innovation is central to the development of products and services and the creation of new ones. Through close collaboration internally and with other maritime businesses, we will continue to create new and improved solutions that give added value to our customers.”

“We have competent and hardworking employees and an organization that provide for execution and delivery precision. The good collaboration we have with our customers and suppliers creates good and future-oriented solutions. The result will allow us to develop further, so that we can continue to develop innovative product and services to the maritime market,” said Gunvor Ulstein.

ulstein.com