Norway: Record Results for Kleven Maritime

Norway’s biggest Norwegian-owned shipbuilding group is well on track into 2011 as well. The order reserve is 10 ships, at a combined value of 3.7 billion NOK (674.4 mill USD). CEO Ståle Rasmussen is satisfied with the 2010 results, but emphasises that they are working continuously to increase added value and profitability.

”Intense and dedicated work over several years, concentrating on added value and the bottom line, produced the good results in 2010. Skilled and hard-working employees is key to the success; key is also innovation in working methods and production systems,” says Rasmussen.

Kleven Maritime has chosen to go against the flow in the Norwegian shipbuilding industry. The actual shipbuilding increasingly takes place at their two Norwegian shipyards. ”Our activities are well under control, and our building technique based on modules assembled at our own bedding is central to achieve the best project management. Relatively speaking, we do more work on our projects in Norway than our competitors, and have an ambition to continue this development to secure quality and precision,” says Ståle Rasmussen.

Rasmussen praises the collaboration with customers and suppliers:

”Through collaboration with customers and suppliers we have found good solutions at both yards in the Kleven Group. 2011 looks promising. The order reserve will keep Kleven Maritime occupied until December 2012. We are also optimistic about future orders,” he says.

Due to the excellent results, for the second year running, all workers will receive a share of profits. The bonus programme applies to all employees of Kleven Maritime, with payments differentiated according to the results of the different companies within the group.

Kjersti Kleven, Chair of the Board, feels resolutely that those who have helped create this success should also get to share the profits:

”I think it is only fair that that those who have created these results get to share the fruits. If we continue to improve, we will have safe, interesting jobs to offer people in the coming years as well,” says Kjersti Kleven, Chair of the Board.

Key figures (group)         2010         2009

Operating revenue        3.17bn NOK      3.85bn NOK

Operating profit        238.7mil NOK      142.8mil NOK

Pre-tax results           213.8mil NOK      116.5mil NOK

Kleven Verft had a operating profit of MNOK 203.4 (MNOK 163.0 in 2009). Myklebust Verft had a operating profit of MNOK 43.5 (a small deficit in 2009). At year end 2010 the group had 457 employees, 527 i 2009. The downsizing of operations at Myklebust Verft and a hired site in Førde are the most important causes for the decrease.

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Source: klevenmaritime, May 20, 2011;