INTERIM REPORT JANUARY - JUNE 2009
- Net revenue for the first six months amounted to SEK 1,176 M (1,170)
- A loss after tax of SEK 67 M (profit: 120) was reported for the first six months
- Net revenues for the second quarter amounted to SEK 573 M (585)
- A loss per share after tax of SEK 2.40 (profit: 4.30) was reported for the first six months
- A loss after tax of SEK 17 M (profit: 46) was reported in the second quarter
- The offshore spot market in the North Sea, where all vessels were deployed, performed somewhat better in the second quarter. The Offshore/Icebreaking business area's operating profit for the second quarter amounted to SEK 6 M (8)
- The Industrial Shipping business area continued to be adversely impacted by the downturn in the global economy and operating loss for the second quarter amounted to SEK 22 M (profit: 45) but this was better than the result from the first quarter.
- The company's financial position remains favorable, with an equity/assets ratio of 42% (42% at December 31, 2008) at the end of the period and cash and cash equivalents amounted to SEK 336 M (SEK 574 M at December 31, 2008)
- Results for January- June 2009:
Net revenues SEK 1,176 M (1,170)
Operating loss before taxes was SEK 80 M (profit: 122)*
Loss before tax amounted to SEK 82 M (profit: 127)
Loss after current tax was SEK 82 M (profit: 127)
Loss after full tax amounted to SEK 67 M (profit: 120)
Shareholders' equity at June 30, 2009 amounted to SEK 47.60 per share (SEK 50.90 per share at December 31, 2008)
The equity/assets ratio on the closing date was 42% (42% at December 31, 2008)
Return on shareholders' equity was a negative 10% (pos: 20%)
Return on capital employed was a negative 4% (pos: 13%)
*Operating loss: Earnings before tax and restructuring costs.
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