STX Europe ASA reported an EBITDA result of NOK 45 million for the third quarter of 2008 for the continuing operations, down from NOK 138 million in the same period last year. While the revenues grew with 14.2 percent and new order intake amounted to NOK 7 344 million, an ongoing project within Offshore & Specialized Vessels for A.P. Moller - Maersk AS continued to negatively influence the EBITDA result also in the third quarter. The transaction with FLC West was completed at the end of July. This resulted in a profit from discontinued operations of NOK 791 million and increased the equity ratio to 22 percent.
Please find enclosed the full version of the third quarter report for 2008.
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STX Europe ASA
Karenlyst allé 57
P.O. Box 453 Skøyen
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Tel: + 47 21 02 15 00
SVP Corp. Communications and IR
Tel: + 47 21 02 15 30
Mob: + 47 92 88 55 42
Vice President Investor Relations
Tel: +47 21 02 15 19
Mob: +47 95 14 11 47
This press release includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. Such forward-looking information and statements are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for STX Europe ASA and its subsidiaries and affiliates (the "STX Europe Group") lines of business. These expectations, estimates, and projections are generally identifiable by statements containing words such as "expects," "believes," "estimates" or similar expressions. Important factors that could cause actual results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major markets for the STX Europe Group's businesses, oil prices, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time. Although STX Europe ASA believes that its expectations and the information in this Press release were based upon reasonable assumptions at the time when they were made, it can give no assurance that those expectations will be achieved or that the actual results will be as set out in this Press release. Neither STX Europe ASA nor any other company within the STX Europe Group is making any representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the information in the Press release, and neither STX Europe ASA, any other company within the STX Europe Group nor any of their directors, officers or employees will have any liability to you or any other persons resulting from your use of the information in the Press release.
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