Brief: Nordic Shipholding A/S - Group Is Reinstating Guidance For 2020

Nordic Shipholding A/S

26/08/2020 06:34

Aug 26 (Reuters) - Nordic Shipholding A/S  NORDIC.CO :
    * REG-COMPANY ANNOUNCEMENT 07/2020
    * NORDIC SHIPHOLDING A/S - MERGER DISCUSSIONS HAVE STALLED DUE TO DIMINISHED FINANCIAL AND
ECONOMIC VISIBILITY THAT HAVE EVOLVED FROM COVID-19 PANDEMIC.
    * NORDIC SHIPHOLDING A/S - GROUP IS NOW REINSTATING GUIDANCE FOR 2020
    * NORDIC SHIPHOLDING A/S - OFFERED ONE OF ITS VESSELS, NORDIC HANNE, TO MARKET FOR SALE.
    * NORDIC SHIPHOLDING A/S - COMPANY CONTINUES TO PURSUE GROWTH AND POTENTIAL CONSOLIDATION
OPPORTUNITIES THAT ARE ACCRETIVE TO COMPANY.
    * NORDIC SHIPHOLDING A/S - ASSUMING ALL FIVE VESSELS REMAIN IN HANDY AND LR POOLS
RESPECTIVELY,
TCE REVENUE FOR 2020 IS FORECASTED TO BE IN REGION OF USD 28.0 MILLION - USD 31.0 MILLION
    * NORDIC SHIPHOLDING A/S - GROUP'S EXPECTED EBITDA (EARNINGS BEFORE INTEREST, TAX,
DEPRECIATION
AND AMORTISATION) FOR 2020 IS IN RANGE OF USD 14.0 MILLION - USD 17.0 MILLION
    * NORDIC SHIPHOLDING A/S - 2020 RESULT BEFORE TAX IS EXPECTED BETWEEN USD 2.5 MILLION - USD
5.5
MILLION
    * NORDIC SHIPHOLDING A/S - OUTLOOK FOR 2020 DOES NOT TAKE INTO ACCOUNT ANY IMPAIRMENT OR
WRITE-BACK OF IMPAIRMENT OF VESSELS' CARRYING VALUES, EXCEPT FOR VESSEL CURRENTLY EARMARKED FOR
SALE

Source text for Eikon:  ID:nGNE8NLJ7v 
Further company coverage:  NORDIC.CO 

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