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

PR Newswire

GOTHENBURG, Sweden, Nov. 11, 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/1948/3665327/1  Concordia Maritime Interim report, 
664385.pdf                                 1 JanuaryâEUR"30 September 
                                           2022 (PDF) 
https://mb.cision.com/Public/1948/3665327  Concordia Maritime - Press release 
/a80ece06b4de703e.pdf                      - 20221111 
 

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SOURCE Concordia Maritime

(END) Dow Jones Newswires

November 11, 2022 03:01 ET (08:01 GMT)