STX Europe achieved operating revenues of NOK 20 804 million in 2011 (2010: NOK 20 868 million). EBITDA of NOK 2 391 million for 2011 compared with NOK 912 million in 2010 and fourth quarter EBITDA of NOK 790 million (Q4 2010: NOK 252 million).

Satisfactory pre-tax profit of NOK 1 993 million for 2011 compared with NOK 241 million last year and fourth quarter pre-tax profit of NOK 717 million (Q4 2010: NOK 99 million).

Full year result shows strong performance with record high revenue and earnings for STX OSV Holdings Ltd and improving results for Cruise and Ferries, whereby both STX Finland and STX France generated positive net profit in 2011.

-   EBITDA of NOK 2 391 million for 2011 - significant increase from NOK 912 million in  2010
-    Cruise & Ferries with EBITDA of NOK 137 million for 2011 (2010: NOK -473 million)
-    STX OSV Holdings Limited (STX OSV) with EBITDA of NOK 2 355 million for 2011 (2010: NOK 1 330 million)

Profit before tax of NOK 1 993 million  for 2011 -  significant increase from NOK 241 million in 2010

Order book situation:

-   Order intake in NOK 21 562 for 2011 (2010: NOK 26 833 million)
-   11 vessels successfully delivered in Q4 2011
-   Order backlog of 69 vessels end of Q4 2011 totaling NOK 33 225 million