TRANSATLANTIC: INTERIM REPORT JANUARY - MARCH 2009

 | Source: Viking Supply Ships AB Viking Supply Ships AB 


Negative earnings trend for the first quarter

*   Net revenue for the first quarter fell to SEK 378 M (463).
      The decrease was due to lower volumes of freight and lower
freight rates.

*   A loss after tax of SEK 44 M (profit: 81) was reported by
  continuing operations for the
      quarter. For the Group a loss after tax of SEK 50 M (74) was
reported.

*   Net loss per share amounted to SEK 1.60 (earnings: 2.90)

*   The Offshore spot market in the North Sea, where all vessels were
  deployed, was
      weaker than anticipated during the first quarter, which
resulted in a decline in
      earnings. The Offshore/Icebreaking business area's loss for the
first quarter amounted
      to SEK 3 M (profit: 58).

*   The Industrial Shipping business area was negatively impacted by
  the downturn in the
      economy and operating loss for the first quarter amounted to
SEK 34 M (profit: 30).

*   The company's financial position remains favorable, with an
  equity/assets ratio of
      42% and cash and cash equivalents of SEK 565 M.

(för fullständig rapport se bifogad fil)

Attachments

Interim Report January - March 2009.pdf