Brief: Nordic Shipholding FY EBITDA Falls to USD 2.0 Mln

Nordic Shipholding A/S

28/03/2019 07:19

March 28 (Reuters) - Nordic Shipholding A/S  NORDIC.CO :
    * REG-COMPANY ANNOUNCEMENT 2/2019
    * IN 2018,  INCURRED A LOSS AFTER TAX OF USD 23.8 MILLION
COMPARED
TO A SMALLER LOSS OF USD 3.6 MILLION INCURRED IN 2017.
    * 2019 RESULT BEFORE TAX IS EXPECTED TO BE BETWEEN USD -6.0
MILLION - USD -3.0 MILLION
    * BASED ON CURRENT ESTIMATES AND BARRING UNFORESEEN
CIRCUMSTANCES,
GROUP IS FORECASTING A LOSS IN 2019
    * FY TCE REVENUE $19.2 MILLION VERSUS $23.2 MILLION YEAR AGO
    * 2019 EBITDA TO BE IN RANGE OF USD 5.0 MILLION - USD 8.0
MILLION
WITH A BUDGETED STABLE POSITIVE CASH FLOW
    * NORDIC ANNE, NORDIC AGNETHA AND NORDIC AMY WILL UNDERGO
SECOND
SPECIAL SURVEY IN APRIL, MAY AND JULY, RESPECTIVELY
    * 2019 TCE REVENUE FROM 5 PRODUCT TANKERS AND TCE REVENUE
EARNED
BY NORDIC RUTH UNTIL SOLD TO BE IN REGION OF USD 23.0 MILLION -
USD 26.0 MILLION
    * NO DIVIDEND WILL BE DISTRIBUTED FOR THE FINANCIAL YEAR
2018
    * DOES NOT EXPECT TO DISTRIBUTE ANY DIVIDEND FOR THE
FINANCIAL
YEAR 2019.
    * FY EBITDA $2.0 MILLION VERSUS $6.7 MILLION YEAR AGO
    * FY EBIT LOSS $17.8  MILLION VERSUS LOSS $0.2 MILLION YEAR
AGO

Source text for Eikon:  ID:nGNE8vjy05 
Further company coverage:  NORDIC.CO 

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