STX Europe had revenues of NOK 5 485 million in the fourth quarter of 2010, compared with NOK 7 326 million in the fourth quarter of 2009.

In the fourth quarter 2010, STX Europe achieved an EBITDA of NOK 252 million, up from NOK -44 million in the corresponding quarter of 2009. The EBITDA result for the full year was NOK 912 million compared with NOK 133 million in 2009. The profit before tax was NOK 99 million in the fourth quarter compared with NOK -460 million in the same period last year.

The result in the fourth quarter 2010 reflects strong results in STX OSV Holdings Limited, while the results in the Cruise & Ferries business area is weak, mainly due to lower overall activity level and consequent capacity costs.

The order intake was NOK 7 250 million during the fourth quarter, a significant increase from NOK 3 446 million in the same period last year. The order intake in 2010 totaled NOK 26 833 million up from NOK 8 219 million in 2009. STX Europe successfully delivered 25 vessels and 2 conversion projects during 2010. This reflects an overall high activity level and good operational performance during the year.

The order backlog at the end of 2010 consisted of 59 vessels and one conversion project for a total amount of NOK 31 160 million.

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