Concordia Maritime: Interim report, 1 January-31 March 2021

GOTHENBURG, Sweden, April 28, 2021 /PRNewswire/ --

Record-weak tanker market

• Total income Q1: SEK 179.6 (348.6) million
• EBITDA Q1: SEK -45.7 (123.2) million
• Result before tax Q1: SEK -120.2 (29.0) million
• Result per share after tax Q1: SEK -2.54 (0.61)

Events in the first quarter

• Negotiations with lending banks and Stena concerning a solution to strengthen the Company's financial position and liquidity
• Temporary covenant waiver granted by lending banks
• Three scheduled drydockings completed
• Stena Polaris CVC contract extended to June 2021
• Stena Paris chartered out on TC contract until August 2021

Key figures

• Total income, SEK million: 179.6 (348.6)
• EBITDA, SEK million: -45.7 (123.2)
• EBITDA, USD million: -5.4 (12.7)
• Operating result, SEK million: -101.9 (58.0)
• Result before tax, SEK million: -120.2 (29.0)
• Result after tax, SEK million: -121.4 (29.0)
• Equity ratio, %: 25 (29)
• Return on equity, %: neg (neg)
• Available liquid funds, including unutilised credit facilities, SEK million: 232.7 (398.8)
• Result per share after tax, SEK: -2.54 (0.61)
• Equity per share, SEK: 15.90 (22.99)
• Lost-time injuries: 0 (1)

This information is information that Concordia Maritime Aktiebolag (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 28 April 2021, at 11.30 CEST.

For more information, please contact:

Kim Ullman
CEO, Concordia Maritime AB
Tel: +46 31 85 50 03    
Mob: +46 704 85 50 03 
Email: [email protected]   

Martin Nerfeldt
CFO, Concordia Maritime AB
Tel: +45 88 938 661
Mob: +46 704 85 50 07
Email: [email protected]

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https://news.cision.com/concordia-maritime/r/interim-report--1-january-31-march-2021,c3335442

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SOURCE Concordia Maritime