Semco Maritime sees slower growth

Following several years with significant growth rates, Semco Maritime came back down to earth in 2013 with a decline in revenue as well as profits. "Not satisfactory," says CEO Steen Brødbæk.

Esbjerg-based Semco Maritime noted a decline in revenue as well as profits in 2013 due to a slower activity level in several of the company's markets.

Revenue in 2013 came to around USD 425.9 million, down from a historical high last year of USD 444.4 million, while the profit (EBITDA) finished at USD 15.5 million, compared to USD 23.8 million in 2012, corresponding an EBITDA margin of 3.6 percent versus 5.3 percent in 2012.

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