Published: 08:00 CET 16-02-2017 /GlobeNewswire /Source: Odfjell SE / : ODF /ISIN: NO0003399909
Odfjell SE today reports preliminary full year and Q4 2016 results. The results show significant improvement in financial performance in 2016 in spite of challenging markets. Efficiency programs continue to increase competitiveness, and the balance sheet is substantially strengthened.
- Initiated fleet renewal programme for large stainless steel chemical tankers
- Odfjell Tankers Q4 EBITDA: USD 36 mill, compared with USD 48 mill in third quarter, on a softer spot market
- Stable Q4 results from Odfjell Terminals, however slightly reduced EBITDA due to increased maintenance and operating costs
- Sale of the Oman terminal in Q4 resulted in capital gain of USD 44 mill
- Our Tank Terminal in Rotterdam continue to improve
- Successful completion of new unsecured bond issue of NOK 700 mill in January 2017
For more information:
This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Odfjell SE, P. O. Box 6101 PT, Bergen 5892, Norway
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