A record high operating result of SEK 281 million (EUR 30.1 million) is highlighted when the Swedish and Skärhamn-based shipowning/ship operating company Transatlantic closes its books for 2007. All divisions show positive results, led by offshore with a profit margin of 64.1 per cent. Due to the launch of a new tonnage based tax scheme in Norway the acumulated profit in the half-owned joint-venture Transviking AS has become taxable. Therefore, a SEK 90 million (EUR 9.6 million) one-off tax expense has been booked in 2007, which will be paid over ten years. Net turn over reached SEK 2,530 million (EUR 271 million), up by more than a quarter of a billion Swedish crowns compared to 2006. The board proposes a SEK 0.50 increase of the dividend to SEK 2.50 (EUR 0.27) per share.
For 2008, the company expects a continued strong market in general, but competition from an increasing number of vessels in the offshore market makes it uncertain whether the favorable result from 2007 can be repeated.