HAMILTON, Bermuda, April 29, 2014 (GLOBE NEWSWIRE) -- DHT Holdings, Inc. (NYSE:DHT) ("DHT" or the "Company") today announced:
Financial and operational highlights:
USD mill. (except per share)
|Q1 2014||Q4 2013||Q3 2013||Q2 2013||Q1 2013||2013||2012|
|Adjusted Net Income1,||(0.5)||11.5||(4.1)||(7.7)||(3.1)||(3.5)||6.0|
|Interest bearing debt||205.4||156.4||156.4||156.4||203.7||156.4||212.7|
|Spot exposure||44.2 %||41.7%||72.2%||83.1%||80.8%||69.8%||31%|
|Unscheduled off hire6||1.69%||0.83%||0||0.25%||1.32%||0.61%||0.19%|
|Scheduled off hire6||4.6%||0||2.4%||2.2%||0||1.13%||0.88%|
Highlights of the quarter:
The full report can be found on the link below.
EARNINGS CONFERENCE CALL INFORMATION
DHT will host a conference call at 8:00 a.m. EDT on Wednesday April 30, 2014, to discuss the results for the quarter. All shareholders and other interested parties are invited to join the conference call, which may be accessed by calling 1 718 354 1357 within the United States, 23500486 within Norway and +44 20 3140 8286 for international callers. The passcode is "DHT". A live webcast of the conference call will be available in the Investor Relations section on DHT's website at http://www.dhtankers.com.
An audio replay of the conference call will be available through May 6, 2014. To access the replay, dial 1 347 366 9565 within the United States, 21000498 within Norway or +44 20 3427 0598 for international callers and enter 5915552# as the pass code.
About DHT Holdings, Inc.
DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC, Suezmax and Aframax segments. We operate through our wholly owned management companies in Oslo, Norway and Singapore. You shall recognize us by our business approach with an experienced organization with focus on first rate operations and customer service, quality ships built at quality shipyards, prudent capital structure with robust cash break even levels to accommodate staying power through the business cycles, a combination of market exposure and fixed income contracts for our fleet and a transparent corporate structure maintaining a high level of integrity and good governance. For further information: www.dhtankers.com.
Forward Looking Statements
This press release contains certain forward-looking statements and information relating to the Company that are based on beliefs of the Company's management as well as assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil prices and seasonal fluctuations in vessel supply and demand. When used in this document, words such as "believe," "intend," "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should" and "expect" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company's estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the Securities and Exchange Commission on March 3, 2014.
The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements.
Eirik Ubøe, CFO
Phone: +1 441 299 4912 and +47 412 92 712
Net of voyage expenses. Q4 2013 and 2013 includes $15.4 million in payment from Citigroup related to final settlement of sale of OSG claim.  adjusted for impairment charges of $100.5 million in 2012.  adjusted for loss on sale of vessels in 2012, 2013, Q1 2013 and Q2 2013, non-cash impairment charge in 2012 and non-cash swap related items. EPS is calculated assuming all preferred shares issued on November 29, 2013 and May 3, 2012 had been exchanged for common stock and applying the 12:1 reverse stock split which was effective as of close of business on July 16, 2012 retrospectively.  per common share. Historical dividend per share adjusted for 12:1 reverse split.  Q1 2014 includes six newbuildings totaling 1,799,400 dwt to be delivered in 2015/2016.  as % of total operating days in period.
Q1 2014 financial report http://hugin.info/150897/R/1781053/609147.pdf