STX OSV achieves highest revenue and margins in operating history
- All-time high revenue up 4% year-on-year to NOK 12.4 billion in FY 2011
- Full-year EBITDA up 77% to NOK 2.36 billion with EBITDA margin at a record 19.0%
- Final dividend of SGD 10 cents per share to be recommended for FY 2011
- Improved order wins in 4Q 2011 with order intake of NOK 6.03 billion, including contracts for Petrobras Transportes S.A. (“Transpetro”) worth NOK 3.29 billion
- Order book of 54 vessels at year-end 2011, of which 32 are STX OSV’s own design
Mr Roy Reite, Chief Executive Officer and Executive Director of STX OSV, commented, “Despite ongoing economic headwinds, we have observed robust activity in the deepwater offshore oil and gas exploration and production sector, which we believe will continue to underpin healthy demand for our proprietary designs and vessels.”
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