In the third quarter of this year, EBITDA improved to a positive figure of NOK 96 million from a negative one of NOK38 mllion in the same period last year. For the first nine months of 2011, EBITDA was positive by NOK161 million compared to a figure negative by NOK309 million for January-September 2010.
“Market conditions have gradually and slowly improved during 2011, however the macroeconomic picture is fragile and unstable at the moment and it is difficult to predict how this will affect the market. Despite a challenging market for new buildings, the number of potential projects within the market allows us to be cautiously optimistic about the market conditions and outlook,” the company said in a statement.
“In addition to increased activity within the cruise and ferries market, STX France and STX Finland are through diversification moving into other market segments where the yards have considerable experience and know-how. Such markets include vessels for naval operations, offshore related constructions and renewable energy/wind. The focus in ice-breaking/Arctic tonnage will continue to remain a key strategic focus, predominantly in Finland,” the company continued.
“The business area has a strong focus to secure more orders and to improve its cost base and long term competitiveness. STX Europe is committed to remaining a world leading shipbuilder of cruise vessels, ferries and other specialized vessels at its yards in Finland and France,” STX Europe said.