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    Ulstein Group expecting "restructuring and change"

    Company News // May 15, 2015

    Ulstein Group achieved a good result for 2014 with an operating turnover of NKr 2.7 billion and an operating profit of NKr 184 million.

    “We are pleased with last year’s figures. Today’s market is tough, and we are preparing for even harder times to come. There will be major demand for restructuring and change,” said the company's CEO, Gunvor Ulstein.

    “We will focus on project management, increased productivity and working harder to adjust to a competitive cost level. At the same time we will continue to prioritise innovation across our product and service portfolios,” she added.

    Ulstein said there was a good market for design and equipment packages in 2014. The company entered into contracts for the construction of its designs at several yards around the world, as well as in their own yard in Norway.

    At year end, Ulstein Design & Solutions had 35 vessels in its orderbook; of these, five are to be built at Ulstein Verft.

    At the end of 2014, Ulstein Group had orders worth NKr 2.7 billion on its books.

    Ulstein Group’s key figures for 2014 are:

    Operating turnover: NKr 2.70 billion (2013: NKr 2.3 billion)
    Operating profit: NKr 184.1 million (2013: NKr 317.8 million)
    Operating result before tax: NKr 167.7 million (2013: NKr 360.8 million).



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