Alexa
  • Directory of Taiwan

Norwegian shipbuilder Aker Yards reports slight dip in 1Q net profits despite strong revenues

Norwegian shipbuilder Aker Yards reports slight dip in 1Q net profits despite strong revenues

Europe's largest shipbuilder, Aker Yards ASA, on Thursday reported a slight decline in net profits for the first quarter despite a sharp increase in revenues and orders.
The Oslo-based group said its net profit for the January through March quarter was 203 million kroner (US$38.8 million; euro25 million) compared with 221 million kroner a year earlier.
The group said operating revenues increased to 8.39 billion kroner (US$1.4 billion, euro1.05 billion), a 55.4 percent increase on the year-earlier figure. However, those gains were offset by a nearly 58 percent increase in operating costs, to 7.95 billion kroner (US$1.32 billion, euro981 billion) on increased building activity.
The group said there was high activity in all three of its business sectors _ cruise ships, offshore and specialized vessels, and merchant vessels _ with a record high order backlog.
"The pressure on subcontractors is high, and demands a careful follow-up in order to reduce the risk of delays on projects. The trend is that deliveries of parts and supplies are mostly on time, but an increasing number of deliveries are suffering from unacceptable quality," a news release said.
Aker Yards, which is the world's fifth largest shipbuilder, said it expects continued demand growth in most of its markets.
A key development during the quarter was Aker ASA's sale of its entire 40 percent stake in the shipbuilding in March, the statement said.
Aker Yards has 17 shipyards in Norway, Finland, Germany, France, Romania, Ukraine and Brazil.
___
On the Net:
http://www.akeryards.no


Updated : 2021-06-17 17:51 GMT+08:00