Concordia Maritime AB announces interim report for H1 2018.
Total income
Q2: SEK 227.0 (211.1) million
HY1: SEK 426.6 (436.0) million
EBITDA
Q2: SEK –9.3 (10.0) million
HY1: SEK –2.3 (39.3) million
Result before tax
Q2: SEK –57.0 (–43.9) million
HY1: SEK –95.7 (–85.1) million
Result per share after tax
Q2: SEK –1.19 (–0.92) million
HY1: SEK –2.01 (–1.78) million
Events in the second quarter
Another quarter without any Lost Time Injuries
Three suezmax vessels chartered in (50% share)
Two MR (ECO) vessels chartered in (50% share)
Events after the end of the quarter
Another One suezmax vessel chartered in (50% share)
Stena Paris chartered out for 12 months
Key ratios
Total income, SEK million 426.6 (436.0)
EBITDA, SEK million –2.3 (39.3)
EBITDA, USD million –0.3 (4.4)
Operating result, SEK million –91.9 (–69.9)
Result excluding impairment and tax, SEK million –95.7 (–85.1)
Result before tax, SEK million –95.7 (–85.1)
Result after tax, SEK million –95.7 (–85.1)
Equity ratio, % 41 (49)
Return on equity, % –54 (–3)
Available liquid funds, including unutilised credit facilities, SEK million 185.0 (281.0)
Result per share after tax, SEK –2.01 (–1.78)
Equity per share, SEK 25.94 (38.29)
Lost-time injuries 0 (0)
About Concordia Maritime
Concordia Maritime is an international tanker shipping company, focusing on safe, sustainable and reliable transportation of refined oil products, chemicals and vegetable oils. The company’s B shares were first listed on Nasdaq Stockholm in 1984. Concordia Maritime's fleet consists of ten P-MAX product tankers, two newly built IMOIIMAX chemical and product tankers, one suezmax tanker and shares in six MR (ECO)-tankers.