Odfjell SE 3Q16: A good quarter despite challenging markets
(Thomson Reuters ONE) -
EBITDA of USD 60 million and a net result of USD 16 million in third quarter
compared to an EBITDA of USD 61 million and a net result of USD 16 million in
previous quarter of 2016. Balance sheet continues to strengthen.
The downward trend in freight rates we observed in 2Q continued through 3Q,
however contract nominations and efficient allocation of our fleet softens the
impact of the weaker market. The Chemical Tanker segment delivered an EBITDA of
USD 48 million and an EBIT of USD 25 million, same as previous quarter.
Odfjell's shareholding in the Tank Terminal segment continue to deliver stable
results. EBITDA of USD 11.6 million in third quarter compared with USD 12.1
million in the previous quarter. The occupancy rate of commercially available
capacity was 96%, compared to 97% last quarter.
"Our markets continue to be challenging, but we continue to see improvements in
our competitiveness, which softens the impact on the Odfjell results. The sale
of the Oman terminal at an attractive valuation shows some of the underlying
value in our terminal business" says Kristian Mørch, CEO of Odfjell SE.
Please see attached 3Q16 Report and Presentation.
For more information:
Kristian Mørch, CEO Odfjell SE
Tel: + 47 55 27 00 00
E-mail: kristian.morch(at)odfjell.com
Terje Iversen, CFO/SVP Finance
Tel: + 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.
3Q16 Report:
http://hugin.info/156/R/2055921/769993.pdf
3Q16 Presentation:
http://hugin.info/156/R/2055921/769995.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Odfjell SE via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.11.2016 - 08:01 Uhr
Sprache: Deutsch
News-ID 506101
Anzahl Zeichen: 2266
contact information:
Town:
Bergen
Kategorie:
Business News
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