Highlights:
- Board of Directors approved dividend of
USD 0.645 per share for Q3 2023, equal to 75% of the net profit ofUSD 24.9 million - Seventh consecutive quarter with increased dividend, up 38% from Q2 2023
-
Q3 2023 revenue of
USD 54.9 million and EBITDA ofUSD 40.5 million -
Q3 2023 average TCE rate per day: Panamax
USD 49,410 , Mid-sizeUSD 29,970 and DistributionUSD 20,990 - Signed five-year contract for Viking Queen
-
Total revenue backlog of
USD 908 million at end Q3 2023 - Creating additional value through asset transactions
- Well positioned in historically strong market with 4%/11%/37% open days in 2024/25/26
- Favourable market outlook with high charter rates and long contract durations
"We listed in early 2022 with the clear strategy of rechartering the fleet on long-term contracts reflecting the strong market fundamentals to drive value creation and shareholder distributions. Since then, we have signed over
Third quarter 2023 operating revenue of
EBITDA was
The Viking Bravery completed its scrubber installation on budget and ahead of schedule in late July before commencing a five-year time charter. In late July, the Hoegh Caribia made contact with another vessel when exiting port. There were no reported injuries, water ingress or pollution. The vessel resumed its voyage on 1 August after temporary repairs. Full repairs are planned to commence at the end of the year with an estimated net financial impact of approximately
The average fleet TCE was
The Company estimates an average cash flow breakeven rate of
GCC has built a significant revenue backlog providing good visibility on future cash flow. The Company's dividend pay-out ratio was increased from 50% to 75% of net profit effective from the second quarter of 2023.
The Board of Directors has approved a cash dividend of
Presentation
The company will today at
Use the following link to register for the presentation:
https://invitepeople.com/events/dbc7410ec7
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 19 owned 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.
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https://mb.cision.com/Main/20956/3868616/2405836.pdf
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