Brief: Nordic Shipholding Q1 EBITDA Up At USD 6.4 Million

Nordic Shipholding A/S

27/05/2020 06:45

May 27 (Reuters) - Nordic Shipholding A/S  NORDIC.CO :
    * COMPANY ANNOUNCEMENT 5/2020
    * Q1 TCE REVENUE $9.7 MILLION VERSUS $7.1 MILLION YEAR AGO
    * DID NOT MAKE ANY IMPAIRMENT NOR REVERSAL OF IMPAIRMENT
DURING
QUARTER.
    * FOR 3 MONTHS ENDED 31 MARCH 2020, GROUP GENERATED A PROFIT
AFTER
TAX OF USD 3.6 MILLION (USD 0.4 MILLION) PRIMARILY DUE TO
IMPROVED TCE REVENUE GENERATED IN Q1 2020
    * FORECAST FOR REST OF YEAR IS STILL SUBJECT TO
UNPRECEDENTED
UNCERTAINTIES
    * QUARTERLY LOAN INSTALMENTS DUE FROM DEC 2018 TO SEPT 2020
ARE
DEFERRED TO DECEMBER 2020 WHERE ALL OF GROUP'S DEBTS FALL DUE
    * Q1 EBITDA $6.4 MILLION VERSUS $3.1 MILLION YEAR AGO
    * FOR REST OF 2020, VESSELS WILL CONTINUE TO BE COMMERCIALLY
DEPLOYED ON A POOL BASIS
    * GROUP FOR TIME BEING, IS UNABLE TO PROVIDE A FORECAST FOR
2020
    * IS STILL IN A DIFFICULT POSITION, AND WITH A VIEW TO
UNCERTAINTIES AHEAD CAUSED BY COVID-19 PANDEMIC
    * ALTERNATIVES MAY INCLUDE DISPOSAL OF ONE OR MORE VESSELS
AND
FURTHER REPAYMENT ON ITS LOAN FACILITIES

Source text for Eikon:  ID:nGNE7JWLZJ 
Further company coverage:  NORDIC.CO 

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