Concordia Maritime - Year-end report 1 January-31 December 2016

GÖTEBORG, Sweden, Jan 31, 2017 /PRNewswire/ --

• Total income, Q4: SEK 278.5 (274.2) million, Full year 2016: SEK 1,038.2 (1,086.7) million
• EBITDA, Q4: SEK 108.4 (117.3) million, Full year 2016: SEK 319.9 (423.8) million
• Result before tax, Q4: SEK 33.5 (49.8) million, Full year 2016: SEK 56.9 (174.4) million
• Result per share after tax, Q4: SEK 0.72 (1.03), Full year 2016: SEK 1.46 (3.64)

Events in the fourth quarter

• Profitable quarter despite weak markets.
• Sale and leaseback agreement for IMOIIMAX tanker Stena Image signed in October.
• Sale and leaseback agreement for suezmax tanker Stena Supreme signed in December.
• Refinancing of P-MAX tankers completed in November. Total refinancing was USD 189 million, which, after financing costs, is in line with previous loan amounts.
• Another quarter without any lost time injuries.
• The Board will propose to the AGM a dividend of SEK 0.5 per share.

Key ratios

• Total income, SEK million 1,038.2 (1,086.6)
• EBITDA, SEK million 319.9 (423.8)
• EBITDA, USD million 37.4 (50.3)
• Operating result, SEK million 82.7 (209.6)
• Result before tax, SEK million 56.9 (174.4)
• Result after tax, SEK million 69.5 (173.9)
• Equity ratio, % 50 (43)
• Return on equity, % 3.6 (10)
• Available liquid funds, including unutilised credit facilities, SEK million 507.4 (367.1)
• Result per share after tax, SEK 1.46 (3.64)
• Equity per share, SEK 43.78 (39.15)
• 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 kim.ullman@concordiamaritime.com 

Ola Helgesson
CFO
Concordia Maritime AB
Tel 46 31 855009
Mobile 46 704 855009
Email ola.helgesson@concordiamaritime.com

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http://news.cision.com/concordia-maritime/r/year-end-report-1-january-31-december-2016,c2177419

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Related Links

http://www.concordiamaritime.com/en/investor-relations