MPC Container Ships ASA reports H1 and Q2 2018 results and appoints CFO
- Further fleet ramp-up: from 41 acquired vessels as per year-end 2017 to 68 acquired vessels as per 30 June 2018.
- H1 2018 net profit USD 2.3 million. Further growth in net profit expected also for second half and full-year 2018.
Oslo, 31 August 2018
H1 and Q2 2018 results:
MPC Container Ships ASA ("MPCC" or the "Company", together with its subsidiaries the "Group") today published its interim financial report for the six-month period ended 30 June 2018. The Group succeeded in realising a net profit of USD 2.3 million for H1 2018.
- Total revenue was USD 46.9 million in Q2 2018, compared to USD 28.3 million in Q1 2018. For H1 2018, total revenue was USD 75.2 million.
- EBITDA was USD 13.3 million in Q2 2018, compared to USD 8.0 million in Q1 2018. For H1 2018, EBITDA was USD 21.2 million.
- Average time charter equivalent (TCE) was USD 9,841 per day in Q2 2018 (USD 9,352 per day in Q1 2018) and USD 9,647 per day in H1 2018.
As of 30 June 2018, the Group has acquired 68 container vessels. Of these, 66 vessels have been taken over by the balance sheet date, whereof 58 are fully consolidated and eight are operated in a joint venture.
H1 2018 earning call:
The Company will host a webcast for the presentation of the H1 and Q2 2018 results commencing on 31 August 2018 at 15:00 hours CEST. There will be a Q&A session after the presentation.
The webcast can be accessed through the following link:
https://digital.vevent.com/rt/mpc-container/index.jsp?seid=13
Please note that for optimal viewing, it is recommended not to use VPN, but instead to connect directly to the internet. Please disable pop-up blockers in order to view the content in its entirety.
This event is being streamed. It is recommended that you listen via your computer speakers.
International/Toll Attendee Dial In: +44 (0) 2071928000
Conference ID: 9561389
Appointment of Chief Financial Officer:
The Company today announced the appointment of Harald Wilke as Chief Financial Officer, effective 1 September 2018.
Mr. Wilke brings to MPCC over 15 years of financial management experience, most recently as Managing Director and CFO of several business units within thyssenkrupp group, the German industrial engineering and steel production conglomerate, in Germany, Norway and Hong Kong. Previously Mr. Wilke worked for PricewaterhouseCoopers as a corporate finance consultant.
Further information and contact: ir@mpc-container.com
About MPC Container Ships ASA:
MPC Container Ships ASA (ticker code “MPCC”) was formed in April 2017. Its main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The Company is registered and has its business office in Oslo, Norway. For more information, please see our webpage: www.mpc-container.com'