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Year-End report 2009

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Fourth quarter

  • Net revenues amounted to SEK 559 M (743)
  • Loss before tax amounted to SEK 141 M (profit:39)
  • Loss after tax amounted to SEK 116 M (profit:63)
  • Earnings per share amounted to a loss of SEK 4.2 (profit:2.2)

January - December

  • Net revenues amounted to SEK 2,284 M (2,648)
  • Loss before tax amounted to SEK 276 M (profit:259)
  • Loss after tax amounted to SEK 221 M (profit:266)
  • Earnings per share amounted to a loss of SEK 8.0 (profit:9.5)
  • Stefan Eliasson was appointed Acting CEO in December when Anders Källström concluded his employment.
  • The Board of Directors proposes that no dividend be paid for the 2009 fiscal year. (SEK2.50/share).

 

The year 2009 was unique, not only for TransAtlantic, but for the entire global economy. The rapid deceleration of the global economy toward late 2008 and in early 2009 forced many companies to change their plans for expansion into cost reductions. For the shipping industry, which was swiftly impacted by the economic changes and is capital-intensive, these effects entailed a major shift in conditions. TransAtlantic was also impacted by this trend in 2009.

 Despite major efforts to identify new cargo, new service patterns and lower costs, the results for 2009 were unsatisfactory. Due to TransAtlantic's unfavourable results for 2009 and its current financial position, the Board proposes that no dividend be paid for the 2009 fiscal year.

 We believe that the market has stabilized and will slowly improve during 2010. Efforts to reduce our costs in all parts of the Group continue and therefore I look confidently forward to the 2010th. 


Stefan Eliasson
Acting CEO


Press conference
In conjunction with the publication of the Year-End Report, a teleconference will be held with media, investors and analysts on Monday, February 22, at 09:30, am with Acting CEO Stefan Eliasson and CFO Ola Helgesson.
More information at our homepage www.rabt.se.

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.


Read the full report here:

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