Norwegian shipbuilder Havyard has fallen short of its target of posting an operating profit in the fourth quarter.
The net loss was NOK 33.62m ($3.92m) from NOK 5.1m in 2017, while EBIT was lower than expected, coming in at a loss of NOK 35.3m, down 4.3%.
The Saevik-backed company said revenue was NOK 821.59m, up from NOK 354.58m the year before.
It blamed the loss on weaker results in several segments and additional depreciation in research and development.
Havyard said it had lost money on "external activity" in production and services, and the focus has now shifted towards internal activity that is profitable and important for the group.
The order backlog is NOK 4.6bn and will give profitable activity for 2019, it added.
The orderbook includes two live fish carriers, nine ferries, one pelagic trawler and three windfarm service vessels.
The ship design and solutions division will be the the largest contributor to earnings this year.
