Brief: EIM Says EBITDA Result For 2019 Below Expectations

Eimskipafelag Islands hf

31/01/2020 01:39

Jan 30 (Reuters) - Eimskipafelag Islands hf  EIMS.IC :
    * EIM: EBITDA RESULT FOR 2019 BELOW EXPECTATIONS
    * ESTIMATED EBITDA IS IN RANGE EUR 49 - 50 MILLION COMPARED
TO
COMPANY'S UPDATED EBITDA GUIDANCE FOR YEAR 2019 OF EUR 52-55
MILLION
    * TERMINAL TRANSITION WAS SCHEDULED IN Q1 2020 BUT DUE TO
CLOSE
DOWN & STRIKES AT PRIOR TERMINAL MOVE WAS EXPEDITED
    * ONE-OFF EXPENSES RELATED TO CLOSING OF EIMSKIP'S OFFICE IN
BELGIUM WAS HIGHER THAN EXPECTED
    * MOVING STEVEDORING SERVICES IN ROTTERDAM EARLIER THAN
EXPECTED
RESULTED IN CONSIDERABLE COST

Source text for Eikon:  ID:nGNE2jnB3K 
Further company coverage:  EIMS.IC 

 ((Reuters.Briefs@thomsonreuters.com;))