Rickmers Holding AG i.I.
Rickmers Group: Revenue and operating result (EBITDA) rise in 2015, essential bank loan extended to 2020/21
DGAP-News: Rickmers Holding AG / Key word(s): Final Results Rickmers Group: Revenue and operating result (EBITDA) rise in 2015, essential bank loan extended to 2020/21 – Revenues for financial year 2015 increase by 7.6 percent to 587.0 million euros – Operational result (EBITDA) improves by 20.8 percent to 253.1 million euros – Group net profit before net impairments on vessels of 1.3 million euros (2014: 4.0 million euros) – Extension of essential bank loan totalling around 520 million US dollars to 2020/21 – Creditreform confirms B- rating Hamburg, 14 March 2016 In financial year 2015 the revenues of Rickmers Group rose by 7.6 percent to 587.0 million euros versus 545.4 million euros in 2014. Main drivers of this positive development were the stronger dollar versus the euro, as well as the expansion in the fleet under management from 110 vessels at the end of 2014 to 130 vessels as at 31 December 2015. The operating result (EBITDA) improved by 20.8 percent versus the previous year, climbing to 253.1 million euros from 209.5 million euros, with the stronger US dollar making a positive contribution here too. Furthermore, the considerable increase in EBITDA was also largely due to active cost management. Before net impairments on vessels, the Rickmers Group achieved a group net profit of 1.3 million euros in 2015 (2014: 4.0 million euros). After impairments on vessels, which are non-cash items, the Rickmers Group ended financial year 2015 with a consolidated net result of -135.5 million euros (2014: 2.1 million euros). In its Maritime Assets segment, revenue increased by 50.1 million euros to 402.3 million euros (2014: 352.2 million euros). Besides fleet growth attributable to the delivery of the 9,450 TEU container-vessel newbuildings in the second half of the year, the revenue increase was also based in particular on the advantageous development of the USD/EUR exchange rate. By contrast, the expiry of a number of high-margin charter contracts with follow-on charters at current low market rates had a considerably negative impact. Overall, the Maritime Assets segment managed to exceed the revenues forecast in the Annual Report 2014. The business activities of Rickmers Crewing GmbH were discontinued as of 31 July 2014, which is one of the reasons why the Rickmers Group in its Annual Report 2014 forecast a slight drop in revenues for the Maritime Services segment for financial year 2015. However, new management contracts for third-party vessels both in Hamburg and Singapore, as well as a positive USD/EUR exchange-rate development more than compensated for the drop in revenues following the discontinuation of Rickmers Crewing GmbH. Consequently, the Maritime Services segment increased its revenues for financial year 2015 from 102.7 million euros to 124.9 million euros, equivalent to a 21.6 percent rise. In financial year 2015 the Rickmers-Linie segment focused on the main trade routes and a reduction in fleet-capacity utilisation. This led to a decline versus 2014 in many areas, including the number of voyages and a fall in transported freight volumes by 0.5 million to 1.8 million freight tonnes. However, owing to the advantageous USD/EUR exchange-rate development, the segment generated revenues of 172.1 million euros which, as forecast in the Annual Report 2014, are below the previous year’s level of 189.5 million euros. Essential bank loan financing successfully re-extended Rating confirmed Financial year forecast 2016 The full Rickmers Group Annual Report 2015 will be published on 30 March 2016. About Rickmers Group In the Maritime Assets segment the Rickmers Group is active as Asset Manager for its own vessels and also for those of third parties. The Group initiates and coordinates shipping projects, organises financing and acquires, charters and sells ships. In the Maritime Services business segment the Rickmers Group provides shipmanagement services for its own vessels as well as for those owned by third parties; these services comprise technical and operational management, crewing, newbuild supervision, consultancy and insurance-related services. In the Rickmers-Linie business segment the Rickmers Group operates as a shipping line for breakbulk, heavy lift and project cargo, and additionally offers individual voyages. Press enquiries: Kirchhoff Consult AG
2016-03-14 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | Rickmers Holding AG | |
Neumühlen 19 | ||
22763 Hamburg | ||
Germany | ||
Phone: | +49 40 389177 0 | |
Fax: | +49 40 389177 500 | |
E-mail: | info@rickmers.com | |
Internet: | www.rickmers.com | |
ISIN: | DE000A1TNA39 | |
WKN: | A1TNA3 | |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart; Open Market in Frankfurt (Prime Standard for Corporate Bonds) | |
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