Deep Sea Supply Plc: Another strong quarter
(Thomson Reuters ONE) - Deep Sea Supply delivered strong financials as per 30.09.2009;Revenues increased to USD 137.3 mill. or an increase of 2,5% comparedto the same period last year. EBITDA was a strong 60.9% of totalrevenues and net profit was USD 42.0 mill. compared to USD 44.2 mill.in the same period last year. Earnings per share as per 30.09.2009were USD 0,33 compared to USD 0,35 in the same period last year.In Q309, Deep Sea Supply's fleet of 21 offshore supply vesselsgenerated revenues of USD 45.8 mill. or a reduction of 5,5% comparedto Q308 (USD 48.4 mill). EBITDA in 3Q09 was USD 27.3 mill. comparedto USD 32.2 mill. in 3Q08. The pre-tax profit for Q309 was USD 12.8mill. compared to USD 12.0 mill in Q308. Earnings per share in Q309were USD 0,10 compared to USD 0,09 in Q308.The AHTS vessel "Sea Eagle 1" was acquired in Q309 at attractiveterms and the vessel was acquired using the company's cash reserves.Deep Sea Supply's entire shareholding in CH Offshore Ltd., Singaporewas sold during the third quarter at a profit of USD 2.9 mill. andYTD profits of USD 8.5 mill.In October 2009, Deep Sea Supply established a company in Rio, Braziland placed an order for one large PSV at STX Brazil Offshore S.A. Thevessel is expected to be delivered in Q1 2012. Brazil is a big marketfor Offshore Supply Vessels and forecasted to grow considerably inthe years to come.The AHTS vessel "Sea Weasel" was delivered from ABG Shipyard on 29October and financed in accordance with the current loan agreementswith the banks.Deep Sea Supply has committed financing in place for its fleetincluding its newbuilding program consisting of 6 AHTS to bedelivered in 2010 from ABG Shipyard. The newbuilding in Brazil willbe financed through a local financing scheme.The Board suggests no dividend distributions in Q309 because thecurrent market situation is uncertain. It is the Company's intentionto revert to its former dividend strategy as and when the marketimproves and show more visibility.11 November 2009Deep Sea Supply Plchttp://hugin.info/136132/R/1354108/328173.pdfhttp://hugin.info/136132/R/1354108/328174.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 11.11.2009 - 07:01 Uhr
Sprache: Deutsch
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