Concordia Maritime: Year-end Report 1 January-31 December 2017

GÖTEBORG, Sweden, Jan. 30, 2018 /PRNewswire/ --

• Total income, Q4: SEK 193.8 (278.5) million, Full year 2017: SEK 827.5 (1038.2) million

• EBITDA, Q4: SEK 10.1 (108.4) million, Full year 2017: SEK 51.3 (319.9) million

• Result before tax, Q4: SEK –42.0 (33.5) million, Full year 2017: SEK –660.2 (56.9) million

• Result per share after tax, Q4: SEK –0.88 (0.72), Full year 2017: SEK –13.83 (1.46)

Events in the fourth quarter

• ECO MR vessel chartered on a 50% basis with Stena Bulk.

• Contract signed to extend ECO MR vessel chartered on a 50% basis with Stena Bulk. The contract is for one year.

• Another quarter without any lost time injuries, adding up to four years without LTI.

• The Board will propose to the forthcoming AGM a dividend of SEK 0 (0.5) per share.

Events after the end of the quarter

• Another two MR (ECO) vessels chartered in.

Key ratios

•  Total income, SEK million 827.5 (1,038.2)

•  EBITDA, SEK million 51.3 (319.9)

•  EBITDA, USD million 6.0 (37.4)

•  Operating result, SEK million –624.6 (82.7)

•  Result excluding impairment and tax, SEK million –186.5 (56.9)

•  Result before tax, SEK million –660.2 (56.9)

•  Result after tax, SEK million –660.2 (69.5)

•  Equity ratio, % 41 (50)

•  Return on equity, % –41.7 (3.6)

•  Available liquid funds, including unutilised credit facilities, SEK million 335.5 (507.4)

•  Result per share after tax, SEK –13.83 (1.46)

•  Equity per share, SEK 25.60 (43.78)

•  Lost-time injuries 0 (0)

Distribution

For environmental reasons, we are only publishing our interim reports digitally. Concordia Maritime's interim reports and additional financial information about the Company can be read or downloaded from our website www.concordiamaritime.com/en/investor-relations

CONTACT:

Kim Ullman
CEO
Concordia Maritime AB

Tel +46-31855003
Mobile +46-704855003
Email [email protected] 

Ola Helgesson
CFO
Concordia Maritime AB

Tel +46-31-855009
Mobile +46-704-855009
Email [email protected]

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http://news.cision.com/concordia-maritime/r/year-end-report-1-january-31-december-2017,c2440890

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SOURCE Concordia Maritime