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    Good results for ULSTEIN

    Company News // June 1, 2011

    Ulstein Group in Norway says it did well in 2010 with NKr 2.4 billion in operating income and an operating profit of NKr 354 million.

    ”We have a solid organisation of competent employees with a strong focus on delivery precision. Through good project management, we have achieved the goals set within our main business areas. This provides a good foundation for the continued building of a robust company”, said CEO Gunvor Ulstein.

    ULSTEIN said it has has made several strategic investments in the design and solutions area in recent years, and said this area delivered solid profits in 2010.

    Since the beginning in 1999, close to 70 designs have been sold, and over 40 of these have been with the X-BOW hull design.

    ULSTEIN said it also delivered good results in the shipbuilding area. "The ability to deliver a vessel to agreed quality, price and time are important competitive advantages," the company said in a statement about its results for 2010.

    Last year ULSTEIN also invested NKr 136 million in research, development and innovation.

    Ms Ulstein said: “Together with our employees and partners in the maritime industry, we will continue to look for opportunities and develop products and services, focusing on competitiveness, the environment and innovation.”

    This year as the year before, all employees in ULSTEIN will receive a bonus. The bonus is made up of a group bonus and a company bonus, and amounts to one week’s salary minimum per employee.

    "We have a dedicated workforce with the ability to deliver, and who work hard to reach our goals and meet our customers’ needs," Ms Ulstein concluded.

    At the end of 2010, Ulstein Group had an order reserve of NKr 2.3 billion.


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