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Year-end report, 1 January–31 December 2019

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  • Total income
    Q4: SEK 317.6 (367.8) million
    12 months: SEK 1,140.2 (1,052.9) million
     
  • EBITDA
    Q4: SEK 62.3 (77.1) million
    12 months: SEK 249.5 (56.8) million
     
  • Result before tax
    Q4: SEK –29.3 (–19.4) million
    12 months: SEK –102.3 (–182.1) million
     
  • Result per share after tax
    Q4: SEK –0.62 (–0.41)
    12 months: SEK –2.15 (–3.81)

Events in the fourth quarter

  • Three P-MAX vessels chartered out for two years
  • Refinancing of eight P-MAX vessels; credit facility in place
  • The Board proposes that the AGM adopt a dividend of SEK 0 (0) per share.

Events after the end of the quarter

  • Implementation of a new corporate structure

Key ratios

  • Total income, SEK million 1,140.2 (1,052.9)
  • EBITDA, SEK million 249.5( 56.8)
  • EBITDA, USD million 26.4 (6.5)
  • Operating result, SEK million –0.4 (–130.1)
  • Result before tax, SEK million –102.3 (–181.9)
  • Result after tax, SEK million –102.6 (–182.1)
  • Equity ratio, % 29 (38)
  • Return on equity, % –9 (–15)
  • Available liquid funds, including unutilised credit facilities, SEK million 354.8 (160.1)
  • Result per share after tax, SEK –2.15 (–3.81)
  • Equity per share, SEK 22.12 (22.24)
  • 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 30 January 2020.

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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Q4 2019

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