Safe Bulkers, an international provider of marine drybulk transportation services, listed on NYSE (Polys Hajioannou, CEO, BoD chairman & director; Loukas Barmparis, president & director), announced that net revenue for the 2nd Q of 2017 increased by 34% to USD 35 million from USD 26.2 million during the same period in 2016.

The company presented a net loss of USD 1.6 million as compared to USD 9 million, during the same period in 2016. Adjusted net loss was USD 2.3 million as compared to USD 8.7 million, during the same period in 2016.

• EBITDA increased to USD 17 million as compared to USD 8.4 million in 2016. Adjusted EBITDA increased to USD 16.2 million from USD 8.8 million.

• Loss per share and adjusted loss per share were USD 0.07 and USD 0.07 respectively, calculated on a weighted average number of 101,363,578 shares, compared to a loss per share of USD 0.15 and adjusted loss per share of USD 0.15 during the same period in 2016, calculated on a weighted average number of 83,571,957 shares.

For the 6 months of 2017, net revenues increased by 34% to USD 68.3 million from USD 50.9 million during the same period in 2016. The company announced net loss for the 6 months of 2017 of USD 4.9 million as compared to USD 26.8 million, during the same period in 2016. Adjusted net loss was USD 5.8 million as compared to USD 23 million.

• EBITDA increased to USD 32.3 million as compared to USD 8.7 million and adjusted EBITDA increased to USD 31.4 million from USD 12.5 million.

• Loss per share and adjusted loss per share for the 6 months of 2017 were USD 0.13 and USD 0.14, respectively, calculated on a weighted average number of 100,329,624 shares, as compared to loss per share of USD 0.40 and adjusted loss per share of USD 0.36 during the same period in 2016, calculated on a weighted average number of 83,557,124 shares.

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