Press Release: Concordia Maritime: Interim report, 1 January-30 June 2022

Dow Jones

2022-08-17

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

PR Newswire

GOTHENBURG, Sweden, Aug. 17, 2022

GOTHENBURG, Sweden, Aug. 17, 2022 /PRNewswire/ --

Positive result and stronger market outlook

   -- Total incomeQ2: SEK 180.8 (208.4) millionHY1: SEK 304.9 (388.0) million 
   -- EBITDAQ2: SEK 102.7 (-16.7) millionHY1: SEK 132.4 (-62.4) million 
   -- Result before taxQ2: SEK 36.5 (-88.4) millionHY1: SEK 6.0 (-208.6) 
      million 
   -- Result per share after taxQ2: SEK 0.75 (-1.88)HY1: SEK 0.11 (-4.42)

Events in the second quarter

   -- Sale of Suezmax tanker Stena Supreme. The sale had a positive liquidity 
      effect of approximately USD 4 million. 
 
   -- Strong market. Result affected by profit-sharing of USD 1.9 million for 
      HY1, enabling accelerated loan repayments.

Events after the end of the quarter

   -- Agreement signed for sale of P-MAX tanker Stena Paris. The sale is 
      expected to enable accelerated loan repayments of approximately USD 5 
      million.

Key figures Jan-Jun 2022

   -- Total income, SEK million: 304.9 (388.0) 
 
   -- EBITDA, SEK million: 132.4 (-62.4) 
 
   -- EBITDA, USD million: 13.8 (-7.4) 
 
   -- Operating result, SEK million: 46.5 (-176.1) 
 
   -- Result before tax, SEK million: 6.0 (-208.6) 
 
   -- Result after tax, SEK million: 5.2 (-211.1) 
 
   -- Equity ratio, %: 20 (24) 
 
   -- Return on equity, %: neg (neg) 
 
   -- Available liquid funds, including unutilised credit facilities, SEK 
      million: 88.9 (139.5) 
 
   -- Result per share after tax, SEK: 0.11 (-4.42) 
 
   -- Equity per share, SEK: 7.18 (14.67) 
 
   -- Lost-time injuries: 0 (2)

This information is information that Concordia Maritime Aktiebolag (publ) is obliged to publish in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was provided by the contact person below for publication on 17 August 2022 at 13.00 CEST.

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

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/concordia-maritime/r/interim-report--1-january-30-june-2022,c3615411

The following files are available for download:

 
https://mb.cision.com/Main/1948/3615411/1615  Concordia Maritime Interim 
699.pdf                                       report, 1 JanuaryâEUR"30 
                                              June 2022 (PDF) 
https://news.cision.com/concordia-maritime/i  CM Q2 2022 PR 
/cm-q2-2022-pr,c3078815 
https://mb.cision.com/Public/1948/3615411/86  Concordia Maritime - Press 
96255a4801ada0.pdf                            release Q2 2022 - 20220817

View original content:https://www.prnewswire.com/news-releases/concordia-maritime-interim-report-1-january30-june-2022-301607553.html

SOURCE Concordia Maritime