The Karstensens Group has returned a positive result for 2019, with DKK31.50 million post-tax profit, but the company warns that as Covid-19 affects the yard, its suppliers and its customers, a reduced turnover for 2020 can be expected.
As well as the Karstensen Shipyard, the group includes Danish Yacht A/S, KS Elektro A/S, Nuuk Shipyard A/S and Karstensen Shipyard Poland. The shipyard has a strong orderbook, with 16 fishing vessels on order and five newbuilds delivered in 2019 to owners in Denmark, Norway and Shetland. This includes the first newbuilds completed in Skagen using hulls fabricated at Karstensen Shipyard Poland in Gdynia.
“We have delivered results that we are pleased with and is largely due to to recent expansions with our own hull yard in Poland and KS Elektro that allow us to offer our customers a highly efficient package of design, construction and aftermarket service,” said director Knud Degn Karstensen.
He commented that delays with external sub-contractors resulted in fewer deliveries taking place in 2019 than had been expected, but in future hull deliveries will be better co-ordinated now that hulls can be constructed at the company’s own yard in Poland, where production began in late 2018.
To date, Karstensen Shipyard Poland has delivered four hulls to the Skagen yard in 2019, and resources are still being put into streamlining production.
“Investing in our own hull production facilities has been crucial to future-proofing and developing shipbuilding production and companies in Skagen,” he said.
Knud Degn Karstensen said that while the outlook for 2020 is positive, the COVID pandemic affects production, customers and suppliers and a reduced turnover for this year is expected.
“Despite the difficult circumstances, there is considerable support from staff, suppliers and customers to solve the challenges in the best possible way. The Karstensen Group companies make efforts to contribute to the social economy by maintaining production and by not using COVID-19 aid packages. All the same, a somewhat smaller surplus for 2020 is budgeted for than previously expected,” he said.
