Ulstein: Solid result in 2013

Norway’s Ulstein Group has delivered what it describes as a good result for 2013 with an operating income of NOK 2.3 billion and an operating profit of NOK 318 million.

“We have competent and hardworking employees and an organisation 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,” says CEO of Ulstein Group, Gunvor Ulstein.

Global approach – 40 vessels in order

At the time, Ulstein has over 40 vessels in order, of which six to be built at its own yard, while the rest are being built at several shipyards worldwide.

“We have worked long-term and strategically to get where we are today. 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,” says Ulstein.

Delivery precision from own yard

In 2013 Ulstein delivered the innovative IMR vessel Seven Viking. This next generation offshore construction vessel built for operations in the harshest environments has set a new standard in the North Sea. The ship also got the award “Ship of the year 2013”. In addition, Ulstein also 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.

Innovation

The company says that innovation is a long-term priority for Ulstein, and in 2013 NOK 146 million was invested in research and development. Gunvor Ulstein underlines that Ulstein will continue to be a driving force within innovation:

“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.”

At the end of 2013, Ulstein Group had an order reserve of NOK 2.6 billion. Ulstein Group’s key figures for 2013 are:

Operating income: NOK 2.30 billion (2012: NOK 2.27 billion)
Operating profit: NOK 317.8 million (2012: NOK 228 million)
Operating result before tax: NOK 360.8 million (2012: NOK 211.4 million)