Brief: Nordic Shipholding Q1 EBITDA Down At $1.7 Million

Nordic Shipholding A/S

22/05/2018 14:34

May 22 (Reuters) - Nordic Shipholding A/S  NORDIC.CO :
    * REG-COMPANY ANNOUNCEMENT 6/2018
    * Q1 EBITDA $1.7 MILLION VERSUS $2.3 MILLION YEAR AGO
    * EXPENSES RELATING TO OPERATION OF VESSELS IN Q1 2018
DECREASED
TO USD 3.7 MILLION (USD 4.0 MILLION)
    * Q1 TCE REVENUE $5.9 MILLION VERSUS $6.8 MILLION YEAR AGO
    * TCES EARNED BY 6 VESSELS IN Q1 2018 CAME IN BELOW
FORECASTED
RATES.
    * AS AT 31 MARCH 2018, CASH AND CASH EQUIVALENTS WAS USD 3.7
MILLION (USD 4.6 MILLION).
    * 2018 EBITDA IS EXPECTED TO BE IN RANGE OF USD 4.0 MILLION
- USD
7.0 MILLION
    * COMMERCIAL MANAGERS FOR RESPECTIVE POOLS REVISED DOWNWARDS
THEIR
FORECASTS FOR REMAINDER OF 2018
    * 2018 RESULT BEFORE TAX IS EXPECTED TO BE BETWEEN USD -6.5
MILLION - USD -4.5 MILLION
    * OUTLOOK FOR 2018 DOES NOT TAKE INTO ACCOUNT ANY IMPAIRMENT
OF
VESSELS' CARRYING VALUES

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

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