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Interim report, 1 January–31 March 2017

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  • Total income, Q1: SEK 224.9 (263.6) million, Full year 2016: SEK 1,038.2 (1,086.6) million
  • Result before tax, Q1: SEK –41.2 (33.4) million, Full year 2016: 56.9 (174.3)
  • EBITDA, Q1: SEK 29.3 (103.4) million, Full year 2016: 319.9 (423.8)
  • Result per share after tax, Q1: SEK –0.86 (0.70), Full year 2016: SEK 1.46 (3.64)
  • The IMOIIMAX vessel Stena Important was sold to a large Japanese financial institution during the quarter. This is a sale & leaseback transaction, the third in a short period of time. The sale price was USD 36 million.
  • Another quarter without any Lost Time Injuries*.

Events after the end of the quarter

  • Two ECO MR vessels chartered on a 50% basis with Stena Weco.

Key ratios

  • Total income, SEK million 224.9 (263.6)
  • EBITDA, SEK million 29.3 (103.4)
  • EBITDA, USD million 3.3 (12.2)
  • Operating result, SEK million –24.4 (44.4)
  • Result before tax, SEK million –41.2 (33.4)
  • Result after tax, SEK million –41.2 (33.4)
  • Equity ratio, % 49 (43)
  • Return on equity, % –0.3 (10)
  • Available liquid funds, including unutilised credit facilities, SEK million 217.7 (450.9)
  • Result per share after tax, SEK –0.86 (0.70)
  • Equity per share, SEK 42.33 (39.02)
  • 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

Kim Ullman
CEO
Concordia Maritime AB

Tel 46 31855003
Mobile 46 704855003
Email kim.ullman@concordiamaritime.com 

Ola Helgesson
CFO
Concordia Maritime AB

Tel 46 31 855009
Mobile 46 704 855009
Email ola.helgesson@concordiamaritime.com

Concordia Maritime is an international tanker shipping company. Our focus is on cost efficient and safe transportation of refined petroleum products and vegetable oils. The company’s B shares were admitted to trading on Nasdaq OMX Stockholm in 1984. www.concordiamaritime.com

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Q1 Concordia Maritime Kim Ullman Ola Helgesson

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