Interim report 1 January–30 June 2016

  • Total income, Q2: SEK 280.8 (285.6) million, 6 months: SEK 544.4 (546.6) million
  • EBITDA, Q2: SEK 57.2 (105.2) million, 6 months: SEK 160.6 (192.5) million
  • Result before tax, Q2: SEK 12.4 (44.0) million, 6 months: SEK 45.8 (72.2) million
  • Result per share after tax, Q2: SEK 0.26 (0.92), 6 months: SEK 0.96 (1.51)
  • P-MAX vessel Stena Polaris chartered out. The contract is for one year and runs from May 2016.
  • Agreement reached on settlement of the arbitration dispute. Cost and payment of USD 9.25 million during the second quarter.
  • IMOIIMAX-related additional payment of USD 5 million received during the second quarter.
  • Positive earnings effect and payment of SEK 23 million from completed USD hedge position during the second quarter.

Key ratios

  • Total income, SEK million 544.4 (546.6)
  • EBITDA, SEK million 160.6 (192.5)
  • EBITDA, USD million 19.3 (23.1)
  • Operating result, SEK million 45.1 (91.4)
  • Result after tax, SEK million 45.8 (72.2)
  • Equity ratio, % 44 (42)
  • Return on equity, % 8 (2)
  • Available liquid funds, including unutilised credit facilities, SEK million 385.9 (229.5)
  • Result per share after tax, SEK 0.96 (1.51)
  • Equity per share, SEK 39.83 (36.34)

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 31 855003
Mobile: 46 704 855003
E-mail: 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-effective 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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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

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