STX Europe has reported net income of NOK 154 million on revenues of NOK 5.6 billion for the second quarter of 2012, compared to net income of NOK 326 million on revenues of NOK 4.9 billion for the same period last year.

STX delivered 10 vessels during Q2 2012. The order intake was NOK 5.2 billion and the order backlog consisted of 65 vessels valued at NOK 30 billion.

According to STX, the Q2 result reflected strong earnings from the STX Offshore and Specialized Vessel section, while the Cruise and Ferries business area was weak due to a decreased activity level and thus increased costs.

At the end of Q2, STX had an order backlog for cruise and ferries of nine vessels valued at NOK 11.6 billion.

The company stated that full efforts are now being taken to improve the order intake and also to secure new projects from other areas such as the marine renewable energy market and wind energy, together with vessels for naval operations and other offshore vessels.

STX France delivered the MSC Divina at the end of May and has two cruise ships and two helicopter carriers under construction at its Saint-Nazaire yard.

In Finland, the Rauma yard is building a cruise ship for TUI Cruises and a cruise ferry for Viking Line.

While there are several potential newbuilding projects, STX stated, the order activity is restrained by the limitations of financing newbuildings in the current economic climate.

For the year to date, STX reported net income of NOK 366 million on revenues of NOK 10.9 billion, compared to net income of NOK 562 million on revenues of NOK 9.8 billion last year.

STX delivered 16 vessels during the first half of 2012.

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