Second Quarter and first half year results 2022
Fornebu, 24th August 2022, Ocean Yield AS (“Ocean Yield” or the “Company”)
announces results for the second quarter and first half year 2022.
Highlights
- EBITDA for Q2 2022 was USD 45.3 million and EBITDA adjusted for finance lease effects was USD 73.6 million. Net profit for the period Q2 2022 was USD 24.6 million and adjusted net profit for Q2 2022 was USD 23.0 million.
- Acquisition of two newbuilding 5,500 TEU container vessels with 7-year charters.
- Acquisition of two newbuilding 36,000 cbm ethylene gas vessels with 15-year charters.
- Delivery of two newbuilding Suezmax tankers with 10-year charters.
- Sale of two handysize dry-bulk vessels following exercise of options in the charter agreements.
- The Company had an EBITDA charter backlog at the end of Q2 2022 of USD 3.4 billion with an average remaining contract duration of 9.6 years.
Andreas Røde, CEO of Ocean Yield, said in a comment:
“Q2 was another solid quarter for Ocean Yield and an active quarter on the investment side. We are pleased to continue to expand and diversify the portfolio of vessels on long-term charters. The latest investments are both examples of our continued ambition to invest in modern, fuel efficient vessels with future proof engine technology.”
Company contacts:
Andreas Røde (CEO), Tel +47 24 13 42 45
Eirik Eide (CFO), Tel +47 24 13 01 91
Company information:
Ocean Yield AS is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings.