Net profit Smit Internationale N.V. increases by 57% in the first half of 2006

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Algemeen advies 17/08/2006 08:30
Excellent results for the Harbour Towage Division.
• Terminals Division on track.
• A low work rate for the Salvage Division.
• Good rates and high fleet utilisation of the Transport & Heavy Lift Division.
• Outlook: net profit over the full year 2006 expected to be 25-35% above 2005.
Mid-year Results 2006
• The net profit in the first half of 2006 increased to EUR 29.7 million from EUR 18.8 million in the first half of 2005.
• The operating profits increased by 59% from EUR 20.1 million in first half of
2005 to EUR 32.0 million.
• The result of the associated companies is EUR 9.6 million (first half of 2005:
EUR 5.3 million).
• Interest charges rose from EUR 2.3 million in first half of 2005 to EUR 2.5 million in 2006.
• Tax burden in the first half of 2006 increased to approximately 30% compared to 24% in the first half of 2005.
• The net profit per average share issued amounts to EUR 3.85 compared to
EUR 2.46 in the first half of 2005.
Strategy
The strategy focuses on:
- Growth of profit.
- Establishing a higher degree of stability.
Main objectives:
- Harbour Towage: acquisitions and (fleet) expansion and –renewal.
- Terminals: extension of current contracts and acquiring additional contracts.
- Salvage: growth towards the top segment and preservation of market share.
- Transport & Heavy Lift: autonomous growth through additional long-term contracts for
transport activities and consolidation of the result for the heavy lift activities.
A comprehensive fleet renewal programme, based on proven technology and standardisation, will support the aforementioned strategy. In the first half year 11 tugboats and 7 work vessels were ordered. In our associated companies 22 tugs were ordered.

Outlook 2006
The results of Harbour Towage and Terminals for the whole year will be in line with the midyear results taking into account the one time release Crew Facility (“Bemanningfaciliteit”) and the seasonal pattern in Harbour Towage.
Salvage as always is unpredictable and calculated on the historic average.
We expect that the result of Transport & Heavy Lift will be slightly lower than the first half year.
Result from associated companies will be in line with the first half year, excluding the EUR 4.1 profit on the sale of the Mexican interest.
Interest and tax burden will be on the same level for the full year.
In total a net profit is expected which will be 25-35% higher than 2005.



Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord


Copyrights © 2000 by XEA.nl all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.


Copyrights © DEBELEGGERSADVISEUR.NL