TRANSATLANTIC: FAVORABLE OUTLOOK BUT DISRUPTION DURING FOURTH QUARTER
In conjunction with SEB's shipping evening in Gothenburg on January 26, Transatlantic's President Håkan Larsson presented the Group and affirmed that, considering market status and the Group's position, the outlook appears favorable for the next few years.
Full-year 2005 is expected to be significantly better than the pro forma result for 2004, although performance in the fourth quarter was disrupted by vessel damage and imbalances in the transatlantic transport of forest products, which are considered temporary. In conjunction with the completion of the merger of B&N Nordsjöfrakt and Gorthon Lines, certain restructuring costs will also be charged to the fourth quarter.
Håkan Larsson also announced that the Group is concluding the negotiations for the sale of several older vessels, while cargo availability for transatlantic services was satisfactory at the beginning of 2006.
The two other divisions, Icebreaking and European Services, performed according to plan in the fourth quarter and are assessed as having favorable conditions for continued positive development in 2006.
The Year-end Report will be published on February 21, 2006.
Håkan Larsson also announced that the Group is concluding the negotiations for the sale of several older vessels, while cargo availability for transatlantic services was satisfactory at the beginning of 2006.
The two other divisions, Icebreaking and European Services, performed according to plan in the fourth quarter and are assessed as having favorable conditions for continued positive development in 2006.
The Year-end Report will be published on February 21, 2006.