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Annual Review 2014

This is Stena AB

Sweden

Stena Renewable's latest wind farm, at Fredriksdal outside Nässjö, comprising ten wind turbines, is opened in June in a festive atmosphere. This brings the total number of wind turbines in operation to 96.

South Korea

 Construction work on a Stena MidMAX type oil rig in progress in July at Samsung Heavy Industries in South Korea. Delivery is scheduled for 2016.

Sweden

Stena Adactum’s subsidiary Envac launches its new "Quantum" ­system, which is 50% more energy-efficient than Envac’s conventional waste management systems and has up to twice their waste capacity.

Panama

The product tanker Stena Conquest goes through the ­Panama Canal on its way from Houston to Panama City during ­summer. The passage takes about three days. Stena Bulk’s tankers have traversed the Canal 45 times during 2014.

Sweden

Construction of 154 student apartments and 48 rental units in Bredäng begun in September. Six new buildings are being constructed and the estimated housewarming period is December 2015 to May 2016.

Scotland

On October 6, Stena Drilling celebrates 12 months without lost-time incidents across the entire fleet of vessels and rigs. The remainder of 2014 also continues without any incidents.

Finland

In November, Stena Line starts a strategic partnership with Mann Lines, thereby strengthening the company’s position in the Baltic Sea. Stena Foreteller, which is owned by Stena RoRo, is chartered to Mann Lines under the partnership.

Singapore

Stena Impression, the first tanker in the IMOIIMAX series, undergoes seatrials in the South China Sea at the end of the year before delivery in January 2015.

Revenue MSEK

33,563

Activities all over

the world

16,000

employees

176

 vessels including newbuildings

26,7001)

residential and Commercial units 1) Owned and managed

96

wind turbines in operation

Ability to compete is built on ability to perform

 

CEO comments

Business idea

By using our competence in, above all, service, trading and ships, to make money in the business areas ferry operations, offshore drilling, shipping, property and finance.

To create new companies for the future.

To take care of our most important asset in the long term, our customers, in such a way that we contribute to their development as well as that of society.

Customer relationship

  • Always the customer's first choice
  • Leader in quality and quality-assured partners
  • Always efficient and effective with our own and others' resources.
  • Clearly delegated business responsibility.

We have committed to comply with the standard ­formulated by the Logistics & Transportation Corporate Citizenship Initiative of the World Economic Forum.

Responsibility in our business relationships

By building long-term relationships with our customers, suppliers and subcontractors, we are committed to delivering high quality and best-value services.

We will meet the highest safety standards. Trust is the basis of all our relationships in society.

We are committed to meeting our customers’ expectations in respect of sustainable business practices.

We have high standards of corporate social responsibility, which we share with our business partners. We may withdraw from a business relationship if we feel that the standards we uphold are not being met by a business partner.

Stena Sphere

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Business areas

Ferry operations

Revenue MSEK 12,246

Income MSEK (60)

Unit

Stena Line

Business Areas

Offshore drilling

Revenue MSEK 8,425

Income MSEK 758

Unit

Stena Drilling, shuttle tankers

Business Areas

Shipping

Revenue MSEK 3,572

Income MSEK 14

Unit

Stena Bulk, Stena Roro, Stena Teknik, NMG

Business areas

Property

Revenue MSEK 3,139

Income MSEK 1,578

Unit

Stena Fastigheter, Stena Realty

Business areas

New businesses

Revenue MSEK 6,696

Income MSEK 331

Unit

Stena Adactum

Business areas

Finance/other

Revenue MSEK 65

Income MSEK 251

Unit

Stena Finance

Business areas

Recycling, environmental
services and trading

Revenue MSEK 23,724

Income MSEK (39)

Unit

Stena Metall

2014 at a glance

EBITDA1)

excluding net gain on asset sales

1) Earnings before interest, taxes, depreciation and amortisation

Income Before tax

Key ratios

MSEK 2013 2014
Total income 30,240 33,563
Net gain on sale of vessels 25  
Net gain on sales of properties 51 212
EBITDA1) 7,947 9,456
Income from operations before sales of non-current assets   3,811 4,653
Income from operations 3,887 4,865
Income before tax 2,148 2,799
Total assets 108,212 125,817
Equity 35,274 38,978
Equity including deferred tax liability 39,214 42,838
Net interest-bearing debt, excl. Stena Property 35,848 38,866
Net debt 48,110 50,566
Debt/equity ratio, % 55 54
Investments 7,022 5,696
Average number of employees 11,348 11,231
Number of employees, external ship management 5,600 4,700
Number of vessels2) 137 151

1) Earnings before interest, taxes, depreciation and amortisation
2) Including owned and chartered vessels