According to the company’s report the excellent profits are mainly attributed to Ulstein’s focus on delivery precision and cost control at all levels. CEO Gunvor Ulstein informed that it is pleasure to present such a good result in an otherwise challenging period for industry. Commercialisations of design and equipment packages, shipbuilding at our own yards and elsewhere, and the electro and control systems business have generated solid earnings the last few years.
He further said that such a boosting result has given a solid basis for continuing to build a robust company while at the same time adapting to a challenging market. He added that the company has good project management, enabling us to achieve the goals set within our most important areas.
The Ulstein Group has made strategic design investments in recent years over a number of design and equipment solutions within offshore supply, heavy offshore (e.g. Drillship) and short shipping (e.g. smaller container vessels). The Ulstein Group also delivered good shipbuilding profit results last year, with the ability to deliver vessels at the agreed quality, price and time a crucial Ulstein competitive advantage.
The company has posted NOK 2.95 billion on its order books. Operating revenues: NOK 3.59 billion (2008: NOK 3.21 billion); Operating profit: NOK 520.9 million (2008: 371.9 million); Ordinary profit before tax: NOK 518 million (2008: NOK 431.1 million).
