MPC Container Ships ASA reports Q3 and nine month 2018 results

  •  Fleet ramp-up completed: all 69 vessels taken over end-of Q3 2018.
  •  Q3 2018 EBITDA USD 14.6 million. Q3 YTD 2018 EBITDA USD 35.8 million.
  •  Q3 2018 net profit USD 1.2 million. Q3 YTD 2018 net profit USD 3.5 million.

Oslo, 30 November 2018

Q3 and nine month 2018 results:

MPC Container Ships ASA ("MPCC" or the "Company", together with its subsidiaries the "Group") today published its interim financial report for the nine-month period ended 30 September 2018. The Group succeeded in realising a net profit of USD 3.5 million for Q1 – Q3 2018.

  •  Total revenue was USD 55.8 million in Q3 2018, compared to USD 46.9 million in Q2 2018. For Q3 YTD 2018, total revenue was USD 131.0 million.
  •  EBITDA were USD 14.6 million in Q3 2018, compared to USD 13.3 million in Q2 2018. For Q3 YTD 2018, EBITDA were USD 35.8 million.
  •  Average time charter equivalent ("TCE") was USD 10,230 per day in Q3 2018 (USD 9,841 per day in Q2 2018) and USD 9,881 per day in Q3 YTD 2018.

As of 30 September 2018, the Group has acquired and taken over 69 container vessels, whereof 61 are fully consolidated and eight are operated in a joint venture.

Q3 and nine month 2018 earnings call: 

The Company will host a webcast for the presentation of the Q3 and nine month 2018 results commencing on 30 November 2018 at 15:00 hours CET. The presentation will be made available on the Company’s webpage (www.mpc-container.com/#IR) from 12:00 hours CET. There will be a Q&A session after the presentation.

The webcast can be accessed through the following link:

https://digital.vevent.com/index.jsp?eid=8329&seid=18

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: 2281855

Contemplated share buy-back programme: 

Due to current market conditions, the Company intends to explore a share buy-back programme and to present a detailed plan of progress in an extraordinary general meeting in early 2019. A summon to an extraordinary general meeting will follow in due course.

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 

About Us

MPC Container Ships ASA owns and operates a fleet of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The company was set up on the basis of favorable near- to mid-term market dynamics for the container feeder segment: attractive supply/demand patterns in intra-regional trades and historically low asset values protected by high recycling prices. The company is listed at the Oslo Stock Exchange (ticker: "MPCC") and has its business office in Oslo, Norway. For more information, please visit our webpage.

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