Hapag-Lloyd generated an operating result (adjusted EBIT) of EUR 36.7 million in the third quarter 2011. This took the operating result for the first nine months of the current financial year to EUR 78.8 million. EBITDA came to approx. EUR 275 million in the first nine month of 2011. Group earnings after interest and taxes (EAT) were also positive in the third quarter at EUR 9.6 million. This made the third quarter the best in the current financial year to date. The positive result was also achieved by consistently pursuing and optimising the cost savings programme that Hapag-Lloyd initiated in 2009. “We performed very well in a demanding market environment. Hapag-Lloyd's operating result is well above the industry average,” said Michael Behrendt, Chairman of the Executive Board of Hapag-Lloyd AG. Economic uncertainty, turbulent foreign exchange markets, tough competition and high bunker prices are currently the defining features of the market and industry environment. “Given the challenging conditions that all liner shipping companies are still facing, our operating result is satisfactory and a clear sign of our strength.” In the first nine months, Hapag-Lloyd generated positive cash flow from operating activities of EUR 186.8 million (Q3: EUR 41.0 million). Hapag-Lloyd's average freight rate in the first nine months of 2011 was USD 1,540 per TEU, on par with last year's figure of USD 1,547 per TEU. Transport volumes rose by 3.9% to 3
Group profit of €20.9 million in Q2 / Operating result more than doubled compared to last year / Transport volume increases by 2.3% Hapag-Lloyd returned to profitability in the second quarter of the current financial year, reporting a Group profit of €20.9 million for the months April to June 2013 (Q2 2012: -€7.3 million). The operating result of €66.7 million was more than twice as high as last year’s figure of €30.8 million
Merger with CSAV is expected to deliver $100 million higher synergies than targeted, strong operating results, significant increases in transport volume and revenue driven by the merger Container shipper Hapag-Lloyd said it has increased transport volumes and revenue as well as earnings in the first half of 2015 as volume growth was driven by a merger with Compañía Sud Americana de Vapores (CSAV) that made Hapag-Lloyd the fourth largest carrier globally by capacity.
During the 3rd quarter an operating result (EBIT) of $7.1m was recorded by the LPG fleet, $16.5m for the 3rd quarter 2006, including $4.0m non-recurrent items. The EBIT for the first nine months of the current year amounts to $21.5m, compared to $49.4m for the first nine months of 2006, including $14.0m non recurrent items. Although freights remained firm, the Midsize segment suffered from increased idle time. Firming Black Sea Ammonia prices versus ample stocks in USA left no room for
Ole Johansson, President and CEO said, "The third quarter was strong for Wärtsilä at all levels, as net sales developed according to plan, profitability was strong, and cash flow from operating activities was at an all time high level. As a result of this positive development we now expect our profitability to exceed 10% for the year 2010. The improvements in Wärtsilä's market environment that started in the second quarter have continued
Royal Boskalis Westminster N.V. (Boskalis) publishes theirl financial report for 2012. Highlights of 2012 · Record revenue of EUR 3.1 billion · Record order book of EUR 4.1 billion · Net profit of EUR 250 million · EBITDA of EUR 568 million
Hornbeck Offshore Services, Inc. announced after an initial review of operating results, it has revised its EBITDA and diluted earnings per share (EPS) guidance for the fourth quarter of 2006 and calendar 2006. The company now expects EBITDA for the fourth quarter of 2006 to range between $33.0 million and $34.0 million, down from $39.0 million to $41.0 million. Please refer to the attached data table and Note A for a definition and reconciliation of EBITDA guidance to its most directly
Swedish tankship owners Concordia Maritime inform of positive results in the first half of 2014 after the sale of shares in jointly-controlled entities, Stena Poseidon and Palva. Highlights New contract with global oil and gas company in line with new employment strategy Seasonal market decline stronger than expected profit expected for full year Total income, MSEK: 301,4 (246,7) EBITDA, MSEK: 138,2 (90,0) Operating result, MSEK: 68,1 (18,2)
Spain's state holding company Sepi said it had created the world's 10th largest shipbuilder with annual sales of around $1.25 billion. The group, which formally begins in October, will be formed from the merger of Spain's military shipbuilder Bazan with the civil yards including Astano, Cadiz and Manises. Its order book will be worth 638 billion pesetas, Sepi said in a statement. The merger is part of Sepi's plan to cut losses in the state-controlled industry and improve operating results by
Power solutions providers for the marine and energy markets, Wärtsilä, has released a summary of its Interim Financial Report January-June 2014, excerpted as follows: Highlights of the Review Period January-June 2014 Order intake decreased 5% to EUR 2,305 million (2,424) - Net sales increased 5% to EUR 2,144 million (2,034) Book-to-bill 1.07 (1.19) Operating result before non-recurring items EUR 212 million, or 9.9% of net sales (EUR 181 million or 8.9%)
* Compared to the previous years period, revenues fall by 15 percent to € 373.6 million * Operating result (EBITDA) falls by 31.1 percent to € 136.8 million * Group result remains burdened by the increase in non-cash extraordinary impairments on vessels of
Golar LNG has now passed a very significant milestone in the roll out of its GoFLNG strategy, says a statement from the company. The recent full and final investment decision (FID) of the Cameroon GoFLNG Hilli project fully validates both the technical and commercial aspects
Reviewing the company’s financial and operating results for the first half year ended 30 June 2016, on 23 August 2016, the Executive Board of PAO Sovcomflot (“SCF Group”) noted that despite a tanker market downturn, the company was able to demonstrate strong performance and
Norway-based owner and operator of floating LNG import terminals, Höegh LNG reported a second quarter profit after tax of US$3.5 million, down from $6.3 million in the first quarter 2016. The company’s profit after tax was also down in comparison to the
In the first half of 2016 the Rickmers Group generated consolidated revenues of €249.3 million ($279 mln), 13.9 percent lower than in the corresponding period in 2015 (€289.6 million, $324 mln). The main underlying factors are the persistently strained market situation
German container shipping company Hapag-Lloyd AG has swung to a loss in the first half of the year as tumbling freight rates weighed on revenue. The bad news comes as the Hamburg-based company tries to boost its fortunes through a merger with United Arab Shipping Company.
Navig8 Chemical Tankers Inc reported its net income at $9.6 million, against a net income of $2.9 million seen in the three months ended June 30, 2015. Continued growth of the company’s operating fleet with the delivery of Navig8 Turquoise, a 49
Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel employment and successful chartering, though still coming in under its Q2 2015 results largely due to an arbitration
A state-of-the-art containership designed by the Schulte Group to meet the most stringent international environmental standards is already outperforming in terms of design and performance and attracting positive attention in the industry.
Höegh LNG returned to profit following a Profit after tax of USD 6.3 million for the first quarter of 2016, up from USD 4.0 million net loss in the fourth quarter 2015. The company’s EBITDA reached $26.6 million for the first quarter of 2016, up from $24
Pioneer Marine Inc. and its subsidiaries (OSLO-OTC: PNRM) ("Pioneer Marine," or the "Company") a leading shipowner and global drybulk handysize transportation service provider announced its financial and operating results for the first quarter ended March 31, 2016.
EBITDA of EUR 123.4 million / EBIT of EUR 4.8 million / Transport volume up 2.1% / Sharp year-on-year decrease in freight rate / Further efficiency measures planned Hapag-Lloyd recorded a positive operating result in a very challenging first quarter of 2016
To fend against M2, newly forming Ocean Alliance is latest push for economies of scale groups. German container shipping firm Hapag-Lloyd has formed a new alliance with five Asian competitors, it said on Friday, the latest step in an industry reorganisation that is divvying up the global
In 2015, Ulstein Group recorded revenues of $279.4 million and an operating loss of $11.5 million. The business areas Design & Solutions and Power & Control both recorded profits. The downturn in the offshore sector and a tricky market has to be met with adaptation and innovation
EUROGATE can look back on a good financial year, 2015. Despite difficult market conditions the European terminal operators Group increased its net profit by 13.4 percent to EUR 73.5 million (prior year EUR 64.9 million). Container handling at the German EUROGATE locations grew faster than the