Concordia Maritime: Robust Fourth Quarter Results

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Helped by ship sales, among other things, Concordia Maritime managed to turn a deficit into profit in 2022, the company’s latest financial results report shows.

Total income

Q4: SEK 263.0 (151.2) million

Full year: SEK 686.1 (704.8) million

EBITDA

Q4: SEK 203.7 (36.6) million

Full year: SEK 374.1 (-82.6) million

Result before tax

Q4: SEK 142.8 (-308.2) million

Full year: SEK 126.1 (-658.2) million

Result per share after tax

Q4: SEK 2.95 (-6.45)

Full year: SEK 2.58 (-13.84)

Events in the third quarter

  • Strong result due to vessel sales. Result for Q4 2021 negatively affected by impairment of SEK 267.7 million.
  • Delivery of the sold vessels Stena Primorsk and Stena Performance.
  • Sharp reduction in bank debt due to vessel sales.
  • Profit-sharing of approximately SEK 22.3 million in Q4 2022.

The Board will propose a dividend of SEK 0 (0) per share to the 2023 AGM.

Key figures Jan-Dec 2022

  • Total income, SEK million: 686.1 (704.8)
  • EBITDA, SEK million: 374.1 (-82.6)
  • EBITDA, USD million: 37.0 (-9.6)
  • Operating result, SEK million: 216.9 (-583.5)
  • Result before tax, SEK million: 126.1 (-658.2)
  • Result after tax, SEK million: 123.3 (-660.4)
  • Interest-bearing liabilities 577.3 (1.597,6)
  • Equity ratio, %: 33 (14)
  • Return on equity, %: 36 (neg)
  • Available liquid funds, including unutilised credit facilities, SEK million: 98.0 (34.9)
  • Result per share after tax, SEK: 2.58 (-13.84)
  • Equity per share, SEK: 8.60 (6.21)
  • Lost-time injuries: 0 (0)

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