Odfjell SE - Third Quarter Result 2010
- Time-charter results decreased 3% compared to second quarter
- Continued solid results from tank terminals
- EBITDA first nine months 2010 USD 123 million
- Gain of USD 3.9 million from termination of three out of six shipbuilding
contracts
- Net liquidity of USD 43 million from new USD 225 million loan facility
- Net liquidity of USD 46 million from sale of two vessels with capital gain of
USD 26 million in Q1 2011
Attached please find report of the Third Quarter Result 2010.
Thursday, November 18, 2010 will President/ CEO Jan A. Hammer and CFO Haakon
Ringdal present the third quarter 2010 result in a conference call at 14:00 CET.
There will be opportunity to ask questions.
Participant telephone numbers:
+44 (0)20 7136 2052 UK
+1 212 444 0481 USA
+47 2415 9756 Norway
Confirmation code: 5654125
A live video webcast presentation will at the same time be made available on
www.odfjell.com/Investor Centre/Reports and Presentations.
Replay
A replay of the conference call and the webcast will be made available on
www.odfjell.com/Investor Centre/Reports and Presentations until 17 December
2010.
Replay telephone numbers:
+44 (0)20 7111 1244 UK
+1 718 354 1112 USA
+47 2100 0498 Norway
Confirmation code: 5654125#
For more information: President/CEO Jan A. Hammer, ph. + 47 55 27 46 11,
mobile:+ 47 908 39 719, e-mail: jan.hammer@odfjell.com or Senior Vice
President/CFO Haakon Ringdal, ph. + 47 55 27 45 63, mobile: + 47 995 83 620, e-
mail: haakon.ringdal@odfjell.com
The Odfjell Group is a leading participant in the global market of the seaborne
transportation and storage of chemicals and other speciality bulk liquids. The
Odfjell fleet comprise about 90 ships, trading both globally and regionally. The
tank terminal division consists of nine fully or partially owned tank terminals
and nine associated tank terminals strategically located. The Odfjell Group is
headquartered in Bergen, Norway and has more than 20 offices world wide. Odfjell
has about 3 800 employees and an annual gross revenue of about USD 1.3 billion.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1463051]