- Summary
- Havila Shipping ASA achieved an operating income before depreciation of NOK 45.8 million in Q3 2018, compared with NOK 39.0 million in Q3 2017.
- Total operating income was NOK 167,7 million in Q3 2018, compared with NOK 176.7 million in Q3 2017.
- The group had as of 30/09/18 23 vessels operated from Fosnavåg, six for external owners.
- The group had three AHTS vessels laid up at the end of Q3 2018.
- Of the three PSVs defined as none core vessels two were sold in March 2018, and one in August 2018.
- The fleet utilization Q3 2018 was 90 % exclusive vessels in lay-up.
Result for 3 quarter 2018 - Total operating income amounted to NOK 167.7 million (NOK 176.7 million).
- Total operating expenses were NOK 121.9 million (NOK 137.7 million).
- The operating profit before depreciation was NOK 45.8 million (NOK 39.0 million).
- Depreciation was NOK 93.7 million (NOK 83.3 million)
- Net financial items were NOK -42.1 million (NOK -14.0 million), whereof unrealized agio loss was NOK -3.2 million (unrealized agio gain NOK 24.4 million).
- The profit before tax was NOK -91.8 million (NOK -56.8 million).
Result year to date 2018 - Total operating income amounted to NOK 447.5 million (NOK 455.9 million).
- Total operating expenses were NOK 339.8 million (NOK 385.2 million).
- The operating profit before depreciation was NOK 107.7 million (NOK 70.7 million).
- Depreciation was NOK 275.3 million (NOK 249.8 million).
- Net financial items were NOK -131.4 million (NOK 1,080.8 million), whereof unrealized agio loss was NOK 0.5 million (unrealized agio gain NOK 65.8 million).
- The profit before tax was NOK -305.4 million (NOK 906.5 million).
Balance and liquidity per 30/09/18 - The book value of the fleet is NOK 3,992.1 million.
- Total current assets amounted to NOK 351.9 million on 30/09/18, whereof bank deposits were NOK 86.5 million (of this NOK 1.1 million restricted). On 30/09/17, total current assets amounted to NOK 627.6 million, whereof bank deposits amounted to NOK 304.6 million (of this NOK 6.4 million restricted).
- Net cash flow from operations was year to date NOK -49.5 million (NOK -175.0 million). Cash flow from investing activities was NOK -40.3 million (NOK 25.1 million). Conversion of convertible shareholder loans, net issues, repayment of loan and payment of instalments constitute a net change from financing activities of NOK -70.2 million (NOK -91.0 million).
- Total interest-bearing debt per 30/09/18 is NOK 4,049.2 million. Of interestbearing debt, 18.4 % is loan in USD, while the remainder is in NOK. Secured debts are classified as long term debt, except from first year instalment is classified as short term debt.
Contacts:
CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act