UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2018
Commission File Number: 001-36810
EURONAV NV
De Gerlachekaai 20
2000 Antwerpen
Belgium
011-32-3-247-4411 (Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ].
Note : Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ].
Note : Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached hereto as Exhibit 99.1 is a copy of the press release of Euronav NV (the "Company"), dated October 30, 2018, announcing the Company's financial results for the third quarter ended September 30, 2018.
The information contained in this Report on Form 6-K, except for the commentary of the Company's Chief Executive Officer, the section entitled "References", and the section entitled "Conference Call", is hereby incorporated by reference into the Company's registration statement on Form F-3 (File No. 333-210849) that was filed with the U.S. Securities and Exchange Commission effective April 21, 2016.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
EURONAV NV (Registrant)Dated: October 31, 2018
By: /s/ Hugo De Stoop
Hugo De Stoop
Chief Financial Officer
EXHIBIT 99.1
PRESS RELEASE
Regulated information Tuesday 30 October - 8 a.m. CET
_________________________________
EURONAV ANNOUNCES THIRD QUARTER RESULTS 2018
HIGHLIGHTS
· Seasonal improvement in Q4 so far pushing VLCC rates ahead of expectation
· Return of OPEC production bringing increased cargoes
· Demand resilient in face of higher oil prices and vessel supply
· Iranian supply chain dislocation to provide sustained boost for tanker market
· Full fleet integration of Gener8 complete
ANTWERP, Belgium, October 30, 2018 - Euronav NV (NYSE: EURN & Euronext: EURN) ("Euronav" or the "Company") today reported its non-audited financial results for the third quarter of 2018 ended September 30, 2018.
Paddy Rodgers, CEO of Euronav said: "The direction of travel for the large tanker market has changed from going sideways to up. Demand for and supply of crude has continued to improve as OPEC production has increased and the dislocation from Iranian sanctions has boosted and will continue to boost commercial tanker operators. Whilst the VLCC delivery schedule will remain high over the next 12 months, active recycling activity has kept net fleet growth negative so far year to date.
An accretive expansion of over 40% of our fleet size via the Gener8 merger has positioned Euronav with one of the most modern, efficient large tanker fleets accompanied by the strongest balance sheet including $677m of liquidity. This leaves us ideally levered to an upgrade on improving tanker cycle fundamentals through 2019 but also further anticipated positive developments from regulatory changes to shipping markets from the application of IMO 2020."
The most important key figures (unaudited) are:
(in thousands of USD)
Revenue
Other operating incomeVoyage expenses and commissions Vessel operating expenses
Charter hire expenses
General and administrative expenses
Net gain (loss) on disposal of tangible assets Depreciation
Net finance expenses Bargain purchase
Share of profit (loss) of equity accounted investees Result before taxation
Tax benefit (expense)
Profit (loss) for the period
Attributable to: Owners of the company
The contribution to the result is as follows:
(in thousands of USD)
Tankers FSO
Result after taxationInformation per share:
(in USD per share)
First Semester 2018
202,748 2,133
(46,277)
(78,870)
(15,432)
(31,150)
10,175
(112,977)
(26,793)
36,280 8,420 (51,743)
141 (51,602)
(51,602)
First Semester 2018
(60,026)
8,424 (51,602)
First Semester 2018
_________________________________
Third Quarter 2018
161,1691,405
(50,647)
(53,110)
(7,838)
(19,105)
8,927
(79,233)
(23,768)
(19)3,873
(58,346)
(401)
(58,747)
(58,747)
Third Quarter 2018
(62,620)
3,873(58,747)
PRESS RELEASE
Regulated information Tuesday 30 October - 8 a.m. CET
363,917395,390
3,5383,882
(96,924)(47,778)
(131,980)(116,475)
(23,270)(23,329)
(50,255)(33,132)
19,102(21,007)
(192,210)(173,445)
(50,561)(31,404)
(110,349)(17,972)
(110,349)(17,972)
(122,646)
Third Quarter 2018
Year-to-Date 2017
−28,029(19,269)
1,297
Year-to-Date 2017
(45,984)
28,012(17,972)
Year-to-Date 2017
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Disclaimer
Euronav NV published this content on 31 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 October 2018 12:57:04 UTC