Successful vessel sales

GOTHENBURG, Sweden, Nov. 11, 2022 /PRNewswire/ --

Total incomeQ3: SEK 118.2 (165.6) million9 months: SEK 423.1 (553.6) million

EBITDAQ3: SEK 38.0 (-56.8) million9 months: SEK 170.4 (-119.1) million

Result before taxQ3: SEK -22.8 (-141.4) million9 months: SEK -16.7 (-350.0) million

Result per share after taxQ3: SEK -0.48 (-2.96)9 months: SEK -0.37 (-7.39)

Events in the third quarter

• Agreement on sale of three P-MAX vessels. The sale is expected to have an overall positive liquidity effect of approximately USD 30 million. The surplus will be used for accelerated loan amortisation.
• Delivery of P-MAX tanker Stena Paris. The sale enables accelerated loan amortisation of approximately USD 5 million.

Key figures Jan-Sep 2022

• Total income, SEK million: 423.1 (553.6)
• EBITDA, SEK million: 170.4 (-119.1)
• EBITDA, USD million: 17.2 (-14.0)
• Operating result, SEK million: 42.8 (-293.5)
• Result before tax, SEK million: -16.7 (-350.0)
• Result after tax, SEK million: -17.6 (-352.6)
• Interest-bearing liabilities 1.053,9 (1.566,5)
• Equity ratio, %: 20 (25)
• Return on equity, %: neg (neg)
• Available liquid funds, including unutilised credit facilities, SEK million: 86.1 (70.0)
• Result per share after tax, SEK: -0.37 (-7.39)
• Equity per share, SEK: 7.12 (12.49)
• Lost-time injuries: 0 (0)

This information is information that Concordia Maritime Aktiebolag (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 11 November 2022 at 08.30 CET.

For more information, please contact: Erik LewenhauptCEO, Concordia Maritime ABMob: +46 704 855 188E-post: erik.lewenhaupt@concordiamaritime.com  

Martin NerfeldtCFO, Concordia Maritime ABTel: +45 88 938 661Mob: +46 704 85 50 07E-post: martin.nerfeldt@concordiamaritime.com

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