First Quarter results 2022
Fornebu, 24th May 2022, Ocean Yield AS (“Ocean Yield” or the “Company”)
announces results for the first quarter 2022.
24 May 2022
- EBITDA for Q1 2022 was USD 41.1 million and EBITDA adjusted for finance lease effects was USD 68.4 million.
- Net profit for the period Q1 2022 was USD 22.1 million and adjusted net profit for Q1 2022 was USD 21.4 million.
- The sale of the vessels Navig8 Pride and Navig8 Providence was completed during the first quarter.
- Post quarter end, delivery of one newbuilding Suezmax tanker with long-term charter.
- Continuing to expand the organisation with the recruitment of new talents.
- The shipping markets strengthened during the quarter leading to further improved counterparty risk in the portfolio.
Andreas Røde, CEO of Ocean Yield, said in a comment:
“It was a steady quarter of operation for Ocean Yield with solid results and improved counterparty risk in the portfolio. We are continuing to evaluate new investments in vessels on long-term charter with the aim to continue to expand and diversify the portfolio and charter backlog going forward. ”
Ocean Yield Q1 2022 Financial Report