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22 October 2019 The on-line newspaper devoted to the world of transports 13:33 GMT+2



September 12, 2019

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of Friend International Shipping it has closed the first semester with a net loss of -24,3 million dollars

Stable the revenues Time base charter (+5.3% in the second solo trimester)

In the first semester of this year of Friend International Shipping, company that work in the segment of the marine liquid bulk transport, has recorded revenues pairs to 178,4 million dollars, with a decrease of the -11,8% on the first half of 2018, of which 126,3 million dollars of revenues Time base charter, in increase of +0.5%. The EBITDA is piled to 47,9 million dollars (+375.8%). Operating result and economic result clearly have been both of sign negative and pairs respective to -1,4 million and -24,3 million dollars against sign results they also negative for -8,8 million and -20,2 million dollars in the first six months last year.

The president and managing director of the company, Paolo d' Amico, have evidenced that "excluding but the results generated from the sale of ships and some voices not recurrent financial institutions from first semester 2019 and from first semester 2018, so as the devaluation of asset and the effects of IFRS 16 from first semester 2019, the DIS result clearly would have been pairs to -9,2 million dollars in the first semester of 2019 regarding -23,6 million in the same period of 2018, an improvement of 14,4 million".

The company has announced that in the first semester of this year it has realized a every day Time charter equivalent medium on the ad pairs to 13.326 dollars that correspond last year to an increment of 1.800 dollars to the day regarding obtained how much in the same period. Moreover DIS has benefitted of a cover to standing charge of 47.3% to a every day medium hire of 14.496 dollars, having generated therefore an average TCE total (ad and Time-charter) pairs to 13.879 dollars to the day in first semester 2019 regarding 12.625 dollars to the day in the first semester last year.

In the second solo trimester of 2019 of Friend International Shipping has totaled revenues pairs to 87,4 million dollars, with a decrease of the -11,6% on the same period of 2018, of which 62,4 million dollars of revenues Time base charter (+5.3%). The EBITDA has been of 25,5 million dollars respect to a Gross Operating Margin of sign negative for -17 thousand euros in the period April-june last year. EBIT and result clearly have been both of sign negative and pairs to -6,6 million and -18,8 million dollars regarding results they also of sign negative for -9,7 million and -16,6 million dollars in according to trimester of 2018.


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