Nordic Shipholding A/S announced audited consolidated and company earnings results for the full year ended December 31, 2015. For the year, on company only basis, the company announced loss before depreciation (LBITDA) was USD 1,572,000 compared to USD 1,846,000 for the same period a year ago. Operating loss (LBIT) was USD 1,572,000 compared to USD 2,154,000 for the same period a year ago. Result before tax was USD 15,083,000 compared to USD 3,425,000 for the same period a year ago. Result after tax was USD 15,083,000 against USD 3,407,000 a year ago. Distribution of result for parent company was USD 15,083,000 compared to USD 3,407,000 for the same period a year ago. Cash outflow from operating activities was USD 1,474,000 compared to USD 2,566,000 for the same period a year ago.

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.