Highlights;

  • Earnings from shipping activities of NOK 47.7 million, up from NOK 32.8 million in first quarter 2015.

  • Earnings from ship owning companies of NOK 45.5 million, up from 27.7 million in first quarter 2015.

  • Earnings before tax of NOK 47.7 million, up from NOK 35.4 million in first quarter 2015.

  • Successful consolidation of multiple ship owning companies to increase efficiency and cash-pooling.

  • Successful refinancing of LGC ship owning company

  • 882 days without lost time incidents (LTI), and only 4 LTI in the last 8 years.

Complete report for 1st Quarter 2016 is enclosed.

Stavanger 12 May 2016
Solvang ASA

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Solvang ASA published this content on 12 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 May 2016 12:12:05 UTC.

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