About the unaudited financial data of JSC “Latvian Shipping Company” for the second quarter
The Latvian Shipping Company and its subsidiaries (LSC Group) revenue for Q2 2015 was USD 45,81 million with a stable net voyage result for the period of USD 41,00 million.
The net profit for Q2 2015 was USD 8,85 million. Fleet operating profit was USD 26,93 million in Q2 2015 – higher than the same period in the previous year (USD 23,69 million).
The key financial indicators for the LSC Group for Q2 for the last three financial years were as follows (USD million):
|
|
H1 2013 |
H1 2014 |
H1 2015 |
|
Sales |
52.41 |
47.35 |
45.81 |
|
EBITDA |
24.43 |
18.87 |
23.80 |
|
Profit before exceptionals |
2.82 |
3.01 |
10.25 |
|
Exceptionals (income from financial assets) |
(5.40) |
11.37 |
0.65 |
|
Exceptionals (fleet impairment) |
(24.02) |
(22.70) |
(2.05) |
|
Net profit |
(26.60) |
(8.32) |
8.85 |
There were no changes in the commercial fleet (sixteen vessels); “LSC Shipmanagement” Ltd were contracted to technically manage two additional third party tankers (twenty vessels in total, including four third party tankers).
About JSC “Latvian Shipping Company”
JSC “Latvian Shipping Company” (NASDAQ OMX RIGA: LSC1R) is among the biggest vessel owners in the segment of medium and handy size tankers and takes leading positions in terms of the transported amount of petroleum products among similar companies in Northern Europe. The company owns and operates 16 modern vessels employing more than 500 professional and high-skilled seamen from Latvia and, technically manages an additional 4 vessels bringing the total managed fleet to 20. The average age of the LK fleet is 8 years. All of the vessels have received ISM (International Safety Management) certificates.
Additional information:
Elīna Dobulāne, Communications Consultant
JSC “Latvijas kuģniecība”
Telephone: +371-25959447
E-mail: elina.dobulane@vnafta.lv
www.lk.lv
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