Brief: Odfjell Q3 EBITDA Falls QoQ

Odfjell SE

06/11/2019 06:07

Nov 6 (Reuters) - Odfjell SE  ODF.OL :
    * 3Q19: SEASONALLY LOWER VOLUMES, BUT MARKET REMAINS ON A
FIRMER
    * CHEMICAL TANKER EARNINGS WERE SEASONALLY WEAKER THIS
QUARTER.
VOLUMES WERE LOWER, BUT FREIGHT RATES REMAINED STABLE AND WITH A
FIRMER UNDERLYING TREND
    * Q3 EBITDA OF USD 51 MILLION, COMPARED WITH USD 57 MILLION
IN
2Q19
    * Q3 NET RESULT OF USD -1 MILLION COMPARED TO USD -10
MILLION LAST
QUARTER
    * ADJUSTED FOR SALES GAIN, NET RESULTS WERE USD -15 MILLION
IN
3Q19
    * Q3 WAS IMPACTED BY USUAL SEASONAL SLOWDOWN IN VOLUMES
WHILE
RATES REMAINED STABLE
    * WE ARE ENCOURAGED TO SEE IMPROVEMENT IN VOLUMES AND
IMPROVED
CRUDE AND PRODUCT TANKER MARKETS, WHICH SHOULD POSITIVELY IMPACT
OUR MARKETS GOING FORWARD
    * WE EXPECT TO REPORT IMPROVED RESULTS IN Q4
    * Q3 2019 EBITDA USD 51.4 MILLION VERSUS Q3 2018 USD 31.5
MILLION
YEAR AGO

Source text for Eikon:  ID:nObiW5MVPa 
Further company coverage:  ODF.OL 

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