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Concordia Maritime

Concordia Maritime

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Concordia Maritime: Interim report, 1 January-31 March 2021

11:30 / 28 April 2021 Concordia Maritime Press release

Record-weak tanker market
 

  • Total income Q1: SEK 179.6 (348.6) million
  • EBITDA Q1: SEK -45.7 (123.2) million
  • Result before tax Q1: SEK -120.2 (29.0) million
  • Result per share after tax Q1: SEK -2.54 (0.61)
Events in the first quarter
  • Negotiations with lending banks and Stena concerning a solution to strengthen the Company's financial position and liquidity
  • Temporary covenant waiver granted by lending banks
  • Three scheduled drydockings completed
  • Stena Polaris CVC contract extended to June 2021
  • Stena Paris chartered out on TC contract until August 2021
Key figures
  • Total income, SEK million: 179.6 (348.6)
  • EBITDA, SEK million: -45.7 (123.2)
  • EBITDA, USD million: -5.4 (12.7)
  • Operating result, SEK million: -101.9 (58.0)
  • Result before tax, SEK million: -120.2 (29.0)
  • Result after tax, SEK million: -121.4 (29.0)
  • Equity ratio, %: 25 (29)
  • Return on equity, %: neg (neg)
  • Available liquid funds, including unutilised credit facilities, SEK million: 232.7 (398.8)
  • Result per share after tax, SEK: -2.54 (0.61)
  • Equity per share, SEK: 15.90 (22.99)
  • Lost-time injuries: 0 (1)

This information is information that Concordia Maritime Aktiebolag (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 28 April 2021, at 11.30 CEST.

Concordia Maritime is an international tanker shipping company. We focus 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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