STX Finland, the troubled shipbuilder that lost an order for a third Oasis class cruise liner and reportedly has been refused loan guarantees by the Finnish export credit agency Finnvera regarding two cruise ships of order from TUI Cruises, has suffered deep losses in four of the past five years, figures gathered by Cruise Business Online editor Teijo Niemela show.
In 2007, the company made a loss of €98.2 million on revenues of €1.25 billion, followed by a €18.6 million loss on revenues of €1.22 billion in the following year.
The situation remained bleak after this as in 2009, the losses narrowed to €39.0 million on significantly reduced revenues of €936.5 million, while in 2010 the losses reached 63.7 million on revenues of just€590.3 million.
In 2011, the company was able to post a profit of €13.2 million, but revenues that had decreased constantly since 2008 continued to slide and plummeted by more tan half on the previous year, their steepest fall in the review period, to €272.5 million.
The figures were gathered from the website of Suomen Asiakastieto, the Helsinki based credit rating agency.