Brief: Philly Shipyard Q4 EBITDA Swings To Loss USD 4.1 Mln

Philly Shipyard ASA

12/02/2020 06:54

Feb 12 (Reuters) - Philly Shipyard ASA  PHLYS.OL :
    * REG-PHILLY SHIPYARD ASA: Q4 2019 RESULTS
    * Q4 EBITDA LOSS $4.1 MILLION VERSUS PROFIT $14.3 MILLION
YEAR AGO
    * TOTAL CASH AND CASH EQUIVALENTS OF USD 50.7 MILLION AT 31
DECEMBER 2019, EXCLUDING USD 66.4 MILLION OF RESTRICTED CASH
    * FOURTH QUARTER AND FULL YEAR 2019 OPERATING REVENUES AND
OTHER
INCOME OF USD 5.5 MILLION AND USD 28.2 MILLION, RESPECTIVELY,
COMPARED TO USD 19.4 MILLION AND USD 129.2 MILLION IN THE SAME
PERIODS IN 2018
    * PHLY BOARD HAS DECIDED TO CONTINUE TO SUSPEND PAYMENT OF
DIVIDENDS
    * EXPECTS IT WILL CONTINUE TO INCUR LOSSES IN 2020 DUE TO
THE
UNDER-RECOVERY OF OVERHEAD COSTS

Source text for Eikon:  ID:nGNE2Mr2Zq 
Further company coverage:  PHLYS.OL 

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