Key events:
- Board of Directors proposes dividend of
USD 0.110 per share for Q3 2022 -
Q3 2022 revenue of
USD 31.5 million and EBIT ofUSD 11.9 million -
Q3 2022 average TCE revenue: Panamax
USD 18,520 , Mid-sizeUSD 24,200 and Distribution fleetUSD 13,170 -
Total revenue backlog of
USD 563 million , up 109% from end of Q2 2022 USD 143 million of additional revenue backlog signed to date in Q4 2022- Positioned to capture a historically strong market with 14%/38% open days in 2023/24
- Favourable market outlook with high charter rates and long contract durations
- Agreement to acquire mid-size vessel Paglia to support increased dividend distributions and capture accretive growth opportunities
"We continue to deliver on our strategic priorities by signing new long-term contracts at historically high dayrates and by providing safe, efficient operations and high-quality logistics services to our customers. This has led to a significant increase in our backlog during in the second half of 2022 which supports future earnings growth and visibility on continued increased dividend payments in line with our stated policy of distributing at least 50% of net profit on quarterly basis. We are on track for the planned up-listing to Euronext Oslo Børs later this year which is expected to further broaden our investor base," said Georg A. Whist, the CEO of GCC.
Third quarter 2022 operating revenue of
The entire GCC fleet was in operation in the third quarter, except for the Viking Emerald that went through the planned second special survey and repairs. The average fleet TCE was
The Company estimates a cash flow breakeven rate of
The Board of Directors has proposed a cash dividend of
Presentation
The company will today at
Use the following link to register for the presentation:
https://invitepeople.com/events/1fc0b7444525c904
Questions may be submitted online during the presentation.
The third quarter report and presentation are attached to this release and is available on the company's website. A recording of the presentation will also be made available.
For further information, please contact:
CEO
E-mail: georg.whist@gramcar.com
CFO
E-mail: gunnar.koloen@gramcar.com
Head of Projects and IR Mas Gram
E-mail: ir@gramcar.com
About
GCC is the world's third-largest tonnage provider within the Pure Car Truck Carriers (PCTCs) segment with 18 vessels, across the Distribution, Mid-size and
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
http://publish.ne.cision.com//Release/ViewReleaseHtml/0A12645A52CB7B2CE0C856B0705FC7D6
https://mb.cision.com/Main/20956/3661346/1648838.pdf
https://mb.cision.com/Public/20956/3661346/93b9f364deb411e4.pdf
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