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Smit,expects sharp increase in net profit 06

1. [verwijderd] 27 oktober 2006 07:50

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   Rotterdam, 26 October 2006
   Smit Internationale NV expects a sharp increase in net profit over 2006
   Today, Smit Internationale NV announced that they expect a net profit over 2006 of at least EUR 62,0 million.
   Mid August 2006, SMIT has announced an increase in expected net profit of 25 - 35 % compared to the 2005 result of EUR 38,4 million.
   In particular the developments in the Divisions Salvage and Transport & Heavy Lift have contributed to today’s improved profit expectation over 2006.
   The Salvage Division has shown an increase in activities during the second half of this year.
   In addition financial settlements have been reached for a significant number of completed salvage jobs from previous periods. Consistent with earlier announcements, ‘Thunderhorse’ and ‘Artic I’ are not included.
   The Transport & Heavy Lift Division shows high occupancy levels and good day rates combined with an increase in long-term contracts for Transport, which will result in a sharp increase of the net profit.
   In addition, the current high occupancy level of the Heavy Lift activities will also contribute to this increased net profit expectation.
   For further information:
   B. Vree W.H. Kanis
   CEO CFO
   Tel: +31 (0)10-4549210 Tel: +31 (0)10-459606
   E-mail: b.vree@smit.com E-mail: w.kanis@smit.com
   Company profile
   SMIT has a proud tradition of almost 165 years of service in the maritime sector. The company has earned an excellent reputation by combining expertise and experience with high-quality materials and equipment. SMIT aims to provide its services in the main to shipping companies, producers in the oil and LNG industries, insurers and governments. SMIT maintains the highest standards in respect of Safety, Health, the protection of the Environment and Quality.
   SMIT’s services are organised into four Divisions:
   • Harbour Towage: harbour towage services and related maritime services.
   • Terminals: towage services and related maritime and management services to offshore and onshore terminals.
   • Salvage: salvage, wreck removal, environmental protection and consultancy.
   • Transport & Heavy Lift: chartering, barge rental & transport, ocean, coastal and river towage, heavy lifting and marine support to a variety of civil and offshore projects.