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Interim report January-June 2010

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Second Quarter 2010

  • Net revenues amounted to SEK 598 M (573)
  • Profit after tax amounted to SEK 44 M (loss: 17)
  • Loss before tax amounted to SEK  30 M (loss: 21)
  • Earnings per share amounted to 1.6 SEK (loss: 0.6)

January - June 2010

  • Net revenues amounted to SEK 1,161 M (1,176)
  • Profit after tax amounted to SEK 41 M (loss: 67)
  • Loss before tax amounted to SEK 115 M (loss: 82)
  • Earnings per share amounted to 1.5 SEK (loss 2.4)

  • Naming ceremony and delivery of AHTS-vessel Loke Viking
  • All five offshore vessels are contracted on long-term


Within the segments where TransAtlantic operates, we have been noticing a general increase of demand. Many of our clients ship more cargo today, than last year. But the condition and development are different for different areas. We can gladly see the development for Offshore/Ice Breaking has been good. For the first time all our vessels are out chartered on long term contracts, furthermore four of them operate in the Arctic Seas, which we believe is the future.

The development within the Industrial Shipping is a reflection of the development of the Global Economy. Many of our clients are shipping larger volumes this year than last year, but they are shipping to markets outside Europe. This has been clear for the forest industries, which have increased their shipments to Asia and the U.S., under the first six months year. This development has lead to problems with our filling degree, for some of our inter-European lines. As a result of this, we have an agreement with StoraEnso to reduce our timetable for TransSuomi Line, and temporarily restore one vessel, which will lead to a significant cost reduction for our traffic during the second half this year.
The task to suit our costs in relation to the market situation continues. We will return or renegotiate four vessels this fall, which will benefit our Atlantic-and container traffic.


Stefan Eliasson
t.f VD

Press conference
In conjunction with the publication of the  Interim report January - June, a teleconference will be held with media, investors and analysts on Friday, July 23, at 09:30, am with Acting CEO Stefan Eliasson and CFO Ola Helgesson. Those who wish to participate in the telephone conference call, please call +46 8 23 23 90, code 892 111

This interim report is available in its entirety on the company website, www.rabt.se.

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