GÖTEBORG, Sweden, Feb. 10, 2022 /PRNewswire/ --
Earnings affected by impairment
- Total income
Q4: SEK 151.2 (165.7) million
Full year: SEK 704.8 (1,025.8) million - EBITDA
Q4: SEK 36.6 (-4.6) million
Full year: SEK -82.6 (277.8) million - Result before tax
Q4: SEK -308.2 (-86.5) million
Full year: SEK -658.2 (-65.1) million - Result per share after tax
Q4: SEK -6.45 (-1.83)
Full year: SEK -13.84 (-1.38)
Events in the fourth quarter
- Agreement with lending banks on new terms and conditions for two of the Company's P-MAX vessels
- Covenant waiver granted by lending banks*
- Erik Lewenhaupt new CEO of Concordia Maritime
- Book value of fleet vessels written down by SEK 268 million
- The Board will propose a dividend of SEK 0 (0) per share to the 2022 AGM
Events after the end of the quarter
- Disposal of P-MAX vessel Stena Perros
- Technical design study on conversion of P-MAX vessels is launched
- Stena Polaris chartered out on bareboat charter for 12 months, with options
* For further information, see page 6 in the Year-End Report.
Key figures 1 January-31 December 2021
- Total income, SEK million: 704.8 (1,025.8)
- EBITDA, SEK million: -82.6 (277.8)
- EBITDA, USD million: -9.6 (30.2)
- Operating result, SEK million: -583.5 (32.6)
- Result before tax, SEK million: -658.2 (-65.1)
- Result before tax, adjusted for impairment: -390.5 (-65.1)
- Result after tax, SEK million: -660.4 (-66.0)
- Equity ratio, %: 14 (28)
- Return on equity, %: -112 (-6)
- Available liquid funds, including unutilised credit facilities, SEK million: 34.9 (378.0)
- Result per share after tax, SEK: -13.84 (-1.38)
- Equity per share, SEK: 6.21 (16.66)
- Lost-time injuries: 0 (2)
For more information, please contact:
Erik Lewenhaupt
CEO, Concordia Maritime AB
+46 704 855 188
erik.lewenhaupt@concordiamaritime.com
Martin Nerfeldt
CFO, Concordia Maritime AB
+45 88 938 661 or +46 704 85 50 07
martin.nerfeldt@concordiamaritime.com
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 persons above for publication on 10 February 2022 at 13.00 CET.
Concordia Maritime is an international shipping company founded in 1887. Our focus is on safe, sustainable and reliable transportation of refined oil products, chemicals and vegetable oils. The company's B shares were first listed on Nasdaq Stockholm in 1984.
www.concordiamaritime.com
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https://news.cision.com/concordia-maritime/r/year-end-report--1-january-31-december-2021,c3503795
The following files are available for download:
https://mb.cision.com/Main/1948/3503795/1533158.pdf | Concordia Maritime AB Year-End Report 2021 |
https://news.cision.com/concordia-maritime/i/concordia-maritime-s-p-max-vessel-stena-polaris,c3010270 | Concordia Maritime's P-MAX vessel Stena Polaris |
