Brief: Odfjell SE Q4 EBITDA Rises To $58.0 Million

Odfjell SE

11/02/2020 06:08

Feb 11 (Reuters) - Odfjell SE  ODF.OL :
    * : IMPROVED RESULTS DRIVEN BY A CONTINUED RECOVERY IN
ODFJELL
TANKERS
    * Q4 EBITDA OF USD 58 MILLION, COMPARED WITH USD 51 MILLION
IN
3Q19
    * Q4 NET RESULT OF USD -10 MILLION COMPARED TO USD -1
MILLION LAST
QUARTER
    * START OF 4Q19 WAS NEGATIVELY IMPACTED BY GEOPOLITICAL
TENSION IN
MIDDLE EAST, BUT QUARTER ENDED ON A STRONG NOTE
    * OUTLOOK 1Q20: WE EXPECT OUR RESULTS TO CONTINUE TO IMPROVE
IN
1Q20 DRIVEN BY A STRONGER CONTRACT PORTFOLIO AND A CONTINUED
RECOVERY IN THE CHEMICAL TANKER MARKETS.
    * Q4 TOTAL REVENUE USD  235.3 MILLION VERSUS USD 241.1
MILLION
YEAR AGO
    * SUPPLY IS FORECASTED TO GROW BY MODEST 1.5% IN 2020 BEFORE
ADJUSTING FOR ANY SWING TONNAGE EFFECT
    * Q4 EBITDA USD 58.0 MILLION VERSUS USD 32.7 MILLION YEAR
AGO
    * WITH RESPECT TO THE CORONA VIRUS OUTBREAK IN CHINA, OUR
TWO
TERMINALS ARE CURRENTLY OPERATING AS NORMAL.
    * A PROLONGED NEGATIVE DEVELOPMENT FROM THE CORONA VIRUS MAY
ALSO
IMPACT TANKER DEMAND NEGATIVELY

Source text for Eikon:  ID:nWkr1fWVYh 
Further company coverage:  ODF.OL 

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