Brief: Nordic Shipholding Q3 EBITDA Loss Narrows To USD 1.0 Million

Nordic Shipholding A/S

27/11/2019 06:45

Nov 27 (Reuters) - Nordic Shipholding A/S  NORDIC.CO :
    * REG-COMPANY ANNOUNCEMENT 11/2019
    * REG-COMPANY ANNOUNCEMENT 11/2019
    * THERE WAS NO CASH SWEEP IN 9M 2019 AND 9M 2018.
    * Q3 TCE REVENUE $3.1 MILLION VERSUS $3.2 MILLION YEAR AGO
    * TCE REVENUE FOR 2019 IS NOW FORECASTED TO BE IN REGION OF
USD
21.5 MILLION - USD 23.5 MILLION, DECREASED FROM USD 23.0 MILLION
- USD 26.0 MILLION
    * Q3 EBITDA LOSS $1.0 MILLION VERSUS LOSS $1.2 MILLION YEAR
AGO
    * EXPECTED EBITDA FOR 2019 IS IN RANGE OF USD 5.5 MILLION -
USD
7.5 MILLION, REVISED FROM USD 5.0 MILLION - USD 8.0 MILLION
    * Q3 EBIT LOSS$2.3  MILLION VERSUS LOSS $7.8 MILLION YEAR
AGO
    * RESULT BEFORE TAX IS BETWEEN USD -5.0 MILLION - USD -3.0
MILLION, REVISED FROM USD -6.0 MILLION - USD -3.0 MILLION.
    * GROUP'S EXPECTED EBITDA (EARNINGS BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION) FOR 2019 IS IN RANGE OF USD 5.5
MILLION - USD 7.5 MILLION, REVISED FROM USD 5.0 MILLION - USD
8.0 MILLION
    * REVISED OUTLOOK DOES NOT TAKE INTO ACCOUNT IMPAIRMENT OR
WRITE-BACK OF IMPAIRMENT OF VESSELS' CARRYING VALUES.
    * 2019 RESULT BEFORE TAX IS BETWEEN USD -5.0 MILLION - USD
-3.0
MILLION, REVISED FROM USD -6.0 MILLION - USD -3.0 MILLION
    * REVISED OUTLOOK FOR 2019 DOES NOT TAKE INTO ACCOUNT ANY
IMPAIRMENT OR WRITE-BACK OF IMPAIRMENT OF VESSELS' CARRYING
VALUES
    * COMPANY CONTINUES TO PURSUE GROWTH AND POTENTIAL
CONSOLIDATION
OPPORTUNITIES THAT ARE ACCRETIVE TO COMPANY.

Source text for Eikon:  ID:nGNE7ZH4qn 
Further company coverage:  NORDIC.CO 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))