Highlights;
- Earnings from shipping activities (ship management and ship ownership combined) at NOK 32.8 million.
- Impairment charge / exceptional items of NOK 25.7 million, reducing earnings from shipping activities to NOK 7.1 million.
- Earnings per share of NOK 1.33 excluding impairment charge.
- LPG market under continued downwards pressure
- Additional contract coverage secured for 2017 for VLGC/LGC fleet.
- Successful consolidation of multiple ship owning companies to increase efficiency and cash-pooling.
- Continued strong HSE results with only 5 minor LTI in the last 9 years, and a LTIF of 0.24.
Complete report for 3rd Quarter 2016 is enclosed.
Stavanger 3rd of November 2016
Solvang ASA
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
