Concordia Maritime: Interim report, 1 January-30 September 2022

Successful vessel sales

GOTHENBURG, Sweden, Nov. 11, 2022 /PRNewswire/ --

Total income
Q3: SEK 118.2 (165.6) million
9 months: SEK 423.1 (553.6) million

EBITDA
Q3: SEK 38.0 (-56.8) million
9 months: SEK 170.4 (-119.1) million

Result before tax
Q3: SEK -22.8 (-141.4) million
9 months: SEK -16.7 (-350.0) million

Result per share after tax
Q3: SEK -0.48 (-2.96)
9 months: SEK -0.37 (-7.39)

Events in the third quarter

  • Agreement on sale of three P-MAX vessels. The sale is expected to have an overall positive liquidity effect of approximately USD 30 million. The surplus will be used for accelerated loan amortisation.
  • Delivery of P-MAX tanker Stena Paris. The sale enables accelerated loan amortisation of approximately USD 5 million.

Key figures Jan-Sep 2022

  • Total income, SEK million: 423.1 (553.6)
  • EBITDA, SEK million: 170.4 (-119.1)
  • EBITDA, USD million: 17.2 (-14.0)
  • Operating result, SEK million: 42.8 (-293.5)
  • Result before tax, SEK million: -16.7 (-350.0)
  • Result after tax, SEK million: -17.6 (-352.6)
  • Interest-bearing liabilities 1.053,9 (1.566,5)
  • Equity ratio, %: 20 (25)
  • Return on equity, %: neg (neg)
  • Available liquid funds, including unutilised credit facilities, SEK million: 86.1 (70.0)
  • Result per share after tax, SEK: -0.37 (-7.39)
  • Equity per share, SEK: 7.12 (12.49)
  • Lost-time injuries: 0 (0)

This information is information that Concordia Maritime Aktiebolag (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 11 November 2022 at 08.30 CET.

For more information, please contact:
Erik Lewenhaupt
CEO, Concordia Maritime AB
Mob: +46 704 855 188
E-post: erik.lewenhaupt@concordiamaritime.com  

Martin Nerfeldt
CFO, Concordia Maritime AB
Tel: +45 88 938 661
Mob: +46 704 85 50 07
E-post: martin.nerfeldt@concordiamaritime.com

The following files are available for download:

https://mb.cision.com/Main/1948/3665327/1664385.pdf

Concordia Maritime Interim report, 1 Januaryâ€"30 September 2022 (PDF)

https://mb.cision.com/Public/1948/3665327/a80ece06b4de703e.pdf

Concordia Maritime - Press release - 20221111


Source: Concordia Maritime Related Stocks: Bloomberg:CCORB@SS ISIN:SE0000102824 RICS:CCORB.ST Stockholm:CCORB
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