Concluding on 2019, the Annual Report shows a slight increase in total revenue to USD 2.2bn (USD 2.1bn), Group operations (EBIT) of USD 36.1m (USD 8.3m) and a result of the year of USD 26.5m (USD 5m), which is above expectations, the company said in its release.
At a Group level, total volumes increased by 10% to 4.5m mts (4.1m mts), with the Americas representing the most significant increase of 35% reaching a total of 1,150,000 mts.
Group CEO, Anders Østergaard comments:
“We are proud to present this strong set of results for 2019. A special year leading up to one of the most defining moments in global shipping since the shift away from coal a century ago. For Monjasa, this much-anticipated shift to the more environmentally friendly marine fuels meant that our role of matching supply and demand with logistical solutions, became a critical factor across the shipping industry.
Through extensive preparations together with our business partners, including suppliers, our oil terminals and fleet operations, Monjasa ended up strongly positioned to respond to a highly volatile market. The result was an increasing demand for our products and services, and a successful transition for our customers.”
With consolidated Group equity increasing to USD 135m and a high solvency ratio of 29%, Monjasa is positioned among the world’s most robust marine fuel suppliers.