SKÄRHAMN, Sweden--(BUSINESS WIRE)--Regulatory News:
TransAtlantic (STO:RABTB):
Third quarter 2012
· Net revenues amounted to SEK 784 M (847)
· Result before capital costs, EBITDA, amounted to SEK 112 M (22)
· Result before tax amounted to SEK -39 M (-167)
· Result after tax amounted to SEK -42 M (-136)
· Earnings per share after tax amounted to SEK -0.4 (-2.1)
January-September 2012
· Net revenues amounted to SEK 2 509 M (2 086)
· Result before capital costs, EBITDA, amounted to SEK 132 M (76)
· Result before tax amounted to SEK -295 M (-305)
· Result after tax amounted to SEK -298 M (-241)
· Earnings per share after tax amounted to SEK -2.7 (-3.7)
Third-quarter earnings for the entire Group were higher than in the second quarter, with better results for both Viking Supply Ships (VSS) and Industrial Shipping (IS).
The combination of better contract coverage and a periodically more favorable spot market in the North-Sea Offshore market generated positive cash flow for VSS.
Viking Supply Ships extended its contract with Centrica Energy by one year, with an option for an additional year.
A settlement has been reached concerning claims for salvage remuneration in connection with salvage of the vessel Golden Seas in December 2010, resulting in an impact of SEK 7.9 M on earnings.
In parallel with cost reduction activities, work continues in Industrial Shipping to implement the growth strategy that was decided. The market base is to be strengthened in the Baltic Sea; the service offering is to become more streamlined and to cover the entire logistics chain. As part of this effort, TransAtlantic in October acquired the operations of the Finnish shipping company Merilinja and also introduced a new line service between Poland and the UK.
Earnings call
In conjunction with the publication of the interim report, an earnings call will be held on Friday November 2, 2012 at 09.30 am (GMT + 1) with TransAtlantic’s President and CEO, Henning E. Jensen and CFO Heléne Mellquist.
The phone conference will be held in English and as a support, there will be a downloadable presentation on the company’s website: www.rabt.se/Investor Relations/Interim Report 3.
Please dial in 5-10 minutes prior to start, using the number and confirmation code below:
Phone number: +47 2350 0486
Confirmation code: 5854848
The interim report is available in its entirety on the company’s website.
Rederi AB TransAtlantic is a leading Swedish shipping company with headquarters in Gothenburg, Sweden and additional offices in Europe. The company is organized into two business areas: Industrial Shipping and Viking Supply Ships. The company has about 900 employees and the turnover in 2011 was MSEK 2,989. The Industrial Shipping business area consists of three divisions: Bulk, Container, RoRo Baltic and Short Sea Bulk. The company’s B-shares are listed on the NASDAQ OMX Stockholm, Small Cap segment. www.rabt.se
TransAtlantic is obliged to make this information public according to the Financial Markets Act and/or the Financial Instruments Trading Act (Sw: lagen om värdepappersmarknaden and lagen om handel med finansiella instrument). The information was submitted for publication on November 2, 2012 at 08.30 am.
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