MPC Container Ships ASA reports H1 and Q2 2018 results and appoints CFO
MPC Container Ships ASA today published its interim financial report for the six-month period ended 30 June 2018. The Group succeeded in realising a net profit of USD 2.3 million for H1 2018.
- Total revenue was USD 46.9 million in Q2 2018, compared to USD 28.3 million in Q1 2018. For H1 2018, total revenue was USD 75.2 million.
- EBITDA was USD 13.3 million in Q2 2018, compared to USD 8.0 million in Q1 2018. For H1 2018, EBITDA was USD 21.2 million.
- Average time charter equivalent (TCE) was USD 9,841 per day in Q2 2018 (USD 9,352 per day in Q1 2018) and USD 9,647 per day in H1 2018.
As of 30 June 2018, the Group has acquired 68 container vessels. Of these, 66 vessels have been taken over by the balance sheet date, whereof 58 are fully consolidated and eight are operated in a joint venture.
The Company today announced the appointment of Harald Wilke as Chief Financial Officer, effective 1 September 2018. Mr. Wilke brings to MPCC over 15 years of financial management experience, most recently as Managing Director and CFO of several business units within thyssenkrupp group, the German industrial engineering and steel production conglomerate, in Germany, Norway and Hong Kong. Previously Mr. Wilke worked for PricewaterhouseCoopers as a corporate finance consultant.
About MPC Container Ships ASA:
MPC Container Ships ASA was formed in April 2017. Its main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The Company is registered and has its business office in Oslo, Norway.