Brief: Nordic Shipholding H1 Loss After Tax At USD 6.0 Mln

Nordic Shipholding A/S

25/08/2021 06:22

Aug 25 (Reuters) - Nordic Shipholding A/S  NORDIC.CO :
    * REG-COMPANY ANNOUNCEMENT 13/2021
    * AVERAGE DAILY TCE RATE EARNED IN H1 2021 BY VESSELS WAS
58%
LOWER THAN AVERAGE DAILY TCE RATE EARNED IN H1 2020.
    * OUTLOOK FOR 2021 REMAINS UNCHANGED AS INDICATED IN COMPANY
ANNOUNCEMENT 12/2021 ON 24 AUGUST 2021.
    * FOR 6 MONTHS ENDED 30 JUNE 2021, GROUP INCURRED A LOSS
AFTER TAX
OF USD 6.0 MILLION
    * FURTHER IMPAIRMENT LOSS OF USD 0.4 MILLION IN H1 2021 (USD
NIL)
DUE TO RECOGNITION OF CERTAIN INCREMENTAL EXPENSES
    * LOSS AFTER TAX WAS USD 6.0 MILLION IN H1 2021 (PROFIT OF
USD 5.7
MILLION).
    * BETWEEN 31 DECEMBER 2020 AND 30 JUNE 2021, EQUITY
DECREASED FROM
NEGATIVE USD 8.5 MILLION TO NEGATIVE USD 14.5 MILLION AS A
RESULT OF CUMULATIVE LOSS INCURRED DURING PERIOD
    * TCE REVENUE FOR 2021 IS FORECASTED TO BE IN REGION OF USD
9.0
MILLION - USD 11.0 MILLION.
    * EXPECTED EBITDA FOR 2021 IS IN RANGE OF USD NIL MILLION -
USD
2.0 MILLION
    * EXPECTS 2021 RESULT BEFORE TAX TO BE A LOSS BETWEEN USD
-4.5
MILLION - USD -2.5 MILLION INCLUDING IMPAIRMENT LOSS

Source text for Eikon:  ID:nGNE1CQcSt 
Further company coverage:  NORDIC.CO 

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