Interim report, 1 January–30 September 2018

Weak tanker market – turnaround has started

Total income

  • Q3: SEK 258.6 (197.7) million
  • 9 months: SEK 685.2 (633.8) million

EBITDA

  • Q3: SEK –18.0 (1.9) million 
  • 9 months: SEK –19.8 (41.2) million

Result before tax

  • Q3: SEK –66.9 (–533.1) million 
  • 9 months: SEK –162.6 (–618.1) million

Result per share after tax

  • Q3: SEK –1.40 (–11.17)
  • 9 months: SEK –3.41 (–12.95)

Events in the third quarter 

  • Extended charter for P-MAX tanker Stena Provence and Stena Paris
  • Another quarter without any lost time injuries.

Key ratios 

  • Total income, SEK million 685.2 (633.8.0)
  • EBITDA, SEK million –20.3 (41.2)
  • EBITDA, USD million –2.4 (4.8)
  • Operating result, SEK million –158.3 (–591.7)
  • Result excluding impairment and tax, SEK million –162.6 (–144.4)
  • Result before tax, SEK million –162.6 (–618.1)
  • Result after tax, SEK million –162.7 (–618.1)
  • Equity ratio, % 40 (41)
  • Return on equity, % –17 (–32)
  • Available liquid funds, including unutilised credit facilities, SEK million 185.0 (442.2)
  • Result per share after tax, SEK –3.41 (–12.95)
  • Equity per share, SEK 22.24 (26.38)
  • 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

The information in this report is information that Concordia Maritime is required to disclose in accordance with the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was made public on 8 November 2018 at approx. 2.00 p.m. 

For more information, please contact:

Kim Ullman
CEO, Concordia Maritime AB
Tel +46 31 855003   
Mob +46 704 855003
Email: kim.ullman@concordiamaritime.com  

Ola Helgesson
CFO, Concordia Maritime AB
Tel +46 31 855009
Mob +46 704 855009
Email: ola.helgesson@concordiamaritime.com

Concordia Maritime is an international tanker shipping company. Our focus is on cost-effective and safe transportation of refined petroleum products and vegetable oils. The Company's B shares were first listed on Nasdaq Stockholm in 1984. www.concordiamaritime.com

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About Us

Concordia Maritime is an international shipping company. Our focus is on the cost-efficient and safe transportation of refined petroleum products and edible oils. The series B-share has been listed on Nasdaq Stockholm since 1984. www.concordiamaritime.com