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Interim report, 1 January–30 September 2019

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  • Total income
    Q3: SEK 259.2 (258.6) million
    9 months: SEK 822.6 (685.2) million
     
  • EBITDA
    Q3: SEK 52.4 (–18.0) million
    9 months: SEK 187.3 (–20.3) million
     
  • Result before tax
    Q3: SEK –35.6 (–66.9) million
    9 months: SEK –73.0 (–162.6) million
     
  • Result per share after tax
    Q3: SEK –0.75 (–1.40)
    9 months: SEK –1.53 (–3.41)

Events in the third quarter

  • Stena Performance and Stena Polaris contracted on consecutive voyage charters for 8–10 months.
  • IMOIIMAX bonus of MUSD 5 received.

Events after the end of the quarter

  • Charter contracts (TC) of 2 years, with an option for a further year, was signed for
    Stena Perros, Stena Progress and Stena Premium.

Key ratios

  • Total income, SEK million 822.6 (685.2)
  • EBITDA, SEK million 187.3 –20.3)
  • EBITDA, USD million 19.9 (–2.4)
  • Operating result, SEK million 2.9 (–158.3)
  • Result before tax, SEK million –73.0 (–162.6)
  • Result after tax, SEK million –73.1 (–162.7)
  • Equity ratio, % 30 (40)
  • Return on equity, % –8 (–17)
  • Available liquid funds, including unutilised credit facilities, SEK million 158.4 (185.0)
  • Result per share after tax, SEK –1.53 (–3.41)
  • Equity per share, SEK 23.08 (24.24)
  • Lost-time injuries 1 (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

This information is information that Concordia Maritime Aktiebolag (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at approx. 13:00 CET on 5 November 2019.

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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Q3 2019

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