Last kr1.22 DKK
Change Today 0.00 / 0.00%
Volume 0.0
NORDIC On Other Exchanges
Symbol
Exchange
Copenhagen
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As of 11:02 AM 09/15/14 All times are local (Market data is delayed by at least 15 minutes).

nordic shipholding a/s (NORDIC) Snapshot

Open
kr1.26
Previous Close
kr1.22
Day High
kr1.26
Day Low
kr1.22
52 Week High
01/15/14 - kr6.05
52 Week Low
12/16/13 - kr0.56
Market Cap
495.5M
Average Volume 10 Days
26.8K
EPS TTM
kr0.18
Shares Outstanding
406.2M
EX-Date
--
P/E TM
1.1x
Dividend
--
Dividend Yield
--
Current Stock Chart for NORDIC SHIPHOLDING A/S (NORDIC)

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nordic shipholding a/s (NORDIC) Details

Nordic Shipholding A/S operates as a ship owning company in Denmark. It owns six product tanker vessels, which include five handy tankers and one LR1 vessel. The company was formerly known as Nordic Tankers A/S and changed its name to Nordic Shipholding A/S in 2012. Nordic Shipholding A/S was founded in 1984 and is based in Hellerup, Denmark. Nordic Shipholding A/S is a subsidiary of Nordic Maritime S.à r.l.

Founded in 1984

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nordic shipholding a/s (NORDIC) Key Developments

Nordic Shipholding A/S Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Earnings Guidance for the Year 2014

Nordic Shipholding A/S reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported TCE revenue of $5,415,000 compared to $6,078,000 a year ago. EBITDA was $88,000 compared to $415,000 a year ago. Operating loss (LBIT) was $1,465,000 compared to $1,175,000 a year ago. Loss before tax was $2,337,000 compared to $2,543,000 a year ago. Loss after tax attributable to the parent company was $2,345,000 or 0.58 cent per basic and diluted share compared to $2,544,000 or 6.54 cents per basic and diluted share a year ago. This loss was due to lower interest expenses of $1.7 million and more earning days in 2014 as Nordic Ruth underwent repairs and was off-hire for repairs during the corresponding period in 2013. For the six months period, the company reported TCE revenue of $12,763,000 compared to $11,824,000 a year ago. EBITDA was $1,309,000 compared to $1,747,000 a year ago. Operating loss (LBIT) was $1,706,000 compared to $1,433,000 a year ago. Loss before tax was $3,425,000 compared to $4,996,000 a year ago. Loss after tax attributable to the parent company was $3,433,000 or 0.85 cent per basic and diluted share compared to $4,997,000 or 12.85 cents per basic and diluted share a year ago. Cash flows from operating activities were $2,727,000 compared to cash flows used in operating activities of $1,943,000 a year ago. Investments in tangible assets were $1,970,000. The company provided earnings guidance for the year 2014. The group expects EBITDA (earnings before interest, tax, depreciation and amortization) to be in the range of $5.0 million to $8.0 million, a reduction from $9.0 million to $12.0 million guided earlier. The company further unforeseen circumstances, the loss before tax is expected to be $5.0 million to loss before tax of $2.0 million, a decrease from loss before tax of $2.0 million to $1.0 million. For 2014, the group's cash outflows are expected to be $3.0 million to $1.0 million, after repaying the outstanding short-term working capital loan. The previous cash outflow forecast was $1.0 million to $2.0 million.

Nordic Shipholding A/S Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Year of 2014

Nordic Shipholding A/S announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the group incurred a loss before tax of USD 1.1 million compared to a larger loss of USD 2.5 million before tax in the same quarter last year. This was due to lower interest expenses of USD 1.3 million and no contribution in first quarter of 2013 from Nordic Ruth as she underwent repairs and was off-hire. EBITDA fell 8.3% to USD 1.2 million compared to USD 1.3 million for the same period last year, due mainly to higher professional fees incurred and costs relating to the change of technical managers. Operating result EBIT was USD 241,000 compared to USD 258,000 for the same period last year. Loss per share was 0.27 cents compared to 6.31 cents for the same period last year. Time charter equivalent revenue (TCE revenue) was USD 7,348,000 compared to USD 5,746,000 for the same period last year. Cash flow from operations was USD 1.1 million compared to USD 1.5 million for the same period last year mainly from the distributions earned by the respective pools and after payment of periodic interest expense on the working capital facility and term loan. Investments in tangible assets were USD 174,000. For the full year of 2014, the company announced barring unforeseen circumstances, it's forecasted TCE revenue from the six product tankers is expected to be in the region of USD 27.0 million to USD 30.0 million, EBITDA to be in the range of USD 9.0 million to USD 12.0 million while results before tax is expected to be between loss of USD 2.0 million and profit of USD 1.0 million. The group's cash flows expected to be between out flows of USD 1.0 million and in flows of USD 2.0 million.

Nordic Shipholding A/S Auditor Raises 'Going Concern' Doubt

Nordic Shipholding A/S filed its Annual on Mar 11, 2014 for the period ending Dec 31, 2013. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

 

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Valuation NORDIC Industry Range
Price/Earnings 1.5x
Price/Sales 1.4x
Price/Book 3.2x
Price/Cash Flow 3.3x
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