Containerships plc - Stock Exchange Release 15 February 2019 at 17:00 (EET)
Profit warning: Containerships decreases its EBITDA estimate for 2018 and maintains its estimate of revenue growth
Containerships decreases its result estimate for 2018. Earlier guidance was: “Total revenue for 2018 is estimated to grow by over 10%. Full-year EBITDA is expected to be better than last year.” According to updated guidance, the company's EBITDA will reduce from the 2017 comparable level. In terms of revenue growth, earlier guidance remains valid.
The profit margin was affected by lower-than-expected profitability, non-recurring project costs and higher-than-expected investments related to LNG vessels.
New LNG vessels are expected to bring significant new business and profitability in the second half of 2019 when vessels are fully operational.
The full financial statements for 2018 will be published together with the financial statements bulletin on 28 February 2019.
Containerships plc
CEO, Kari-Pekka Laaksonen
tel. +358 50 5502555, kari-pekka.laaksonen (at) containerships.fi
Containerships group is a full service, door-to-door provider of shortsea shipping and logistics solutions. It ensures safe and rapid cargo transport between Finland, Russia, the Baltic States, Continental Europe, the UK and Ireland as well as in the Mediterranean region between Turkey and North Africa. Containerships offers a choice of all standard and special containers, and complete coverage through a fleet of sea vessels, and road, railway and river container transportation modes. The net sales for 2017 was MEUR 227. Containerships plc’s senior secured callable bond loan has been listed on OMX Helsinki since 22 November 2017.
Distribution:
NASDAQ OMX Helsinki
www.containershipsgroup.com