First quarter result 2015: Positive effect from cost-cutting programme and improved earnings
(Thomson Reuters ONE) -
Chemical Tankers EBITDA was USD 26 million, which adjusted for non-recurring
items, was USD 4 million higher than last quarter. EBITDA includes negative
effects from bunker derivatives of USD 15 million.
Odfjell's shareholding in the tank terminals business delivered an EBITDA of USD
9 million in the first quarter, up from USD 2 million in the previous quarter.
Performance was driven by improved results from our terminal in Rotterdam and
also by the high demand for spot and mid-term storage.
The cost-cutting and efficiency programme has now been running for three months.
Headcount reductions and other cost-cutting initiatives are progressing as
planned. Energy efficiency initiatives are on schedule, and will first take full
effect in 2016. Implementation of market initiatives related to fleet
optimization and other improvement measures will take longer than first planned.
The goal is to implement improvement initiatives that will improve our net
result by in excess of USD 100 million on a yearly basis within end of 2016 and
we remain confident that we will deliver on this.
Kristian Mørch is appointed new President/CEO of Odfjell SE, starting latest 1
November 2015.
Please find first quarter report 2015 and presentation attached.
For more information please contact:
Tore Jakobsen, President/CEO Odfjell SE
Phone.: + 47 55 27 00 00 / E-mail: tore.jakobsen(at)odfjell.com
Terje Iversen, CFO Odfjell SE
Phone: + 47 55 27 00 00 / E-mail: terje.iversen(at)odfjell.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
First Quarter Presentation 2015:
http://hugin.info/156/R/1919318/687157.pdf
First Quarter Report 2015:
http://hugin.info/156/R/1919318/687156.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Odfjell SE via GlobeNewswire
[HUG#1919318]
Unternehmensinformation / Kurzprofil:
Datum: 06.05.2015 - 14:17 Uhr
Sprache: Deutsch
News-ID 391406
Anzahl Zeichen: 2603
contact information:
Town:
Bergen
Kategorie:
Business News
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