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Strong results from operation - 2Q 2010
"The strong operating result before depreciation shows that our commitment to long term contracts brings good results even in a volatile market", says Jan Fredrik Meling (CEO).
Operating result before depreciation (EBITDA) for Q2 2010 is MNOK 137,6 compared to MNOK 128,7 for the same period last year. Operating income is MNOK 271,8 compared to MNOK 275,4 for the same period last year.
Operating result before depreciation (EBITDA) for the first half year is MNOK 268,6 compared to MNOK 412,8 (included a gain on sale of vessel of MNOK 134,9) for the same period last year. The freight earnings in the first half year is MNOK 540,3 compared to MNOK 568,7 for the same periodlast year.
Profit before tax for 2Q is MNOK -202,1 compared to MNOK 202,8 for the same period last year. For the first half year profit before tax is MNOK -249,2 compared to MNOK 585,4 in 2009.
The result for the first half year is influenced by unrealized foreign exchange loss as a consequence of strengthened USD against NOK.
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