Nordic Shipholding A/S Announces Audited Consolidated and Company Earnings Results for the Full Year Ended December 31, 2015; Provides Earnings Guidance for the Full Year of 2016
For the year, on consolidated basis, the company announced total revenue of USD 46,777,000 compared to USD 50,104,000 for the same period a year ago. Earnings before depreciation (EBITDA) was USD 18,238,000 compared to USD 6,818,000 for the same period a year ago. Operating result (EBIT) was USD 17,323,000 compared to USD 5,815,000 for the same period a year ago. Result before tax was USD 13,604,000 compared to USD 2,415,000 for the same period a year ago. Distribution of result for parent company was USD 13,610,000 compared to USD 2,348,000 for the same period a year ago. Earnings per share, basic and diluted was USD 0.03 compared to USD 0.01 for the same period a year ago. Cash inflow from operating activities was USD 17,649,000 compared to USD 5,623,000 for the same period a year ago. Investments in tangible assets were USD 1,875,000 compared to USD 2,525,000 for the same period a year ago. Return on equity was 30.8% compared to 7.7% for the same period a year ago.
As a result, after taking into account the operating expenditure budgeted by the respective technical managers, the group expects EBITDA (earnings before interest, tax, depreciation and amortisation) to be in the range of USD 17.0 million USD 20.0 million. The result before tax is expected to be between USD 7.0 million USD 9.0 million.