UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2016

Commission File Number: 001-36810

EURONAV NV

De Gerlachekaai 20
2000 Antwerpen
Belgium

011-32-3-247-4411
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X]       Form 40-F [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [  ].

Note : Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [  ].

Note : Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.


INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached hereto as Exhibit 99.1 is a copy of the press release of Euronav NV (the "Company"), dated August 25, 2016, announcing its final financial results for the half year ended June 30, 2016.
 
The information contained in this Report on Form 6-K, except for the commentary by Chief Executive Officer Paddy Rodgers, is hereby incorporated by reference into the Company's registration statement on Form F-3 (File No. 333-210849) that was filed with the U.S. Securities and Exchange Commission effective April 21, 2016.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
EURONAV NV
 
(Registrant)
   
Dated: October 13, 2016
 
   
 
By:
/s/ Hugo De Stoop
   
Hugo De Stoop
   
Chief Financial Officer



EXHIBIT 99.1

FINAL HALF YEAR RESULTS 2016
HIGHLIGHTS

·
Acquisition of 2 VLCC resales for USD 84.5m each
·
Interim dividend of USD 0.55 to be paid in September
·
Q3 tanker trading remains weak in line with seasonal trading pattern – now likely to impact into Q4

ANTWERP, Belgium, 25   August 2016 – During its meeting of 24 August 2016, the Board of Directors of Euronav NV (NYSE: EURN & Euronext: EURN) ("Euronav" or the "Company") approved the final condensed consolidated financial statements for the period ended 30 June 2016. This press release also refers to the press release distributed on 28 July 2016.

Paddy Rodgers, CEO of Euronav said: "We are delighted to announce the acquisition of two new high specification VLCC ex yard resale vessels for USD 84.5m each. The tanker market is at an important stage in its evolution with asset prices at historically low levels primarily as a result of limited access to financing becoming increasingly selective and favoring industrial players like Euronav. This phase provides an opportunity for Euronav to add shipping days at low cost in a disciplined manner without issuance of new shares or excessive additional leverage. This is a good opportunity to be acquisitive and act in the best interests of the business and the long term investors.

As highlighted in our press release on 28 July 2016, the third quarter is proving to be challenging. The seasonality impacting freight rates has been exacerbated by the persistence of additional short term disruptive factors such as oil production outages in West Africa and new tonnage added to the global fleet. Whilst the underlying fundamentals for the medium and longer term crude tanker markets remain constructive it is anticipated that the current market conditions will impact the fourth quarter."

 
 

 
 
 
 
For the first half of 2016 the Company had a net result of USD 153.7 million or USD 0.97 per share (first half 2015: USD 173.2 million and USD 1.13 per share). Proportionate EBITDA for the same period was USD 298.6 million (first half 2015: USD 316.1 million).

NOTES ON THE DIVIDEND

In April 2015, we adopted our current "return to shareholders" policy, pursuant to which we intend to distribute to our shareholders 80% of our annual net consolidated profit (excluding exceptional items such as gains on the disposal of vessels). Notwithstanding the adoption of this policy, our Board of Directors' primary obligation remains to act in the best interest of the Company and in doing so our Board of Directors always considers alternatives for use of cash that might otherwise be distributed as dividends.
 
 

 
 
This may include the purchase by us of our own shares, the accelerated amortization of debt or the acquisition of vessels which we consider at that time to be accretive to shareholders' value. Dividends, if any, will be paid in two instalments: first as an interim dividend, then as a balance payment corresponding to the final dividend and the interim dividend payout ratio may typically be more conservative than the yearly payout of 80% of net consolidated profit.

Pursuant to this policy set out above and considering the acquisition of two additional VLCCs and the limited share buybacks that occurred in the first half of the year, our Board of Directors has approved an interim dividend for the first semester of USD 0.55 per share.

The Euronav Board and management seeks to re-invest the capital base of the Company and therefore excludes capital gains when assessing net income available for distribution. Consequently the Board considered the net income figure to be USD 140 million (EPS USD 0.88 per share) for the first semester from which it has approved an interim dividend of USD 0.55 per share. The Board is therefore deploying retained earnings to partially finance the new acquisitions and maintain liquidity and leverage ratios in line with sound business practice.

DIVIDEND DISTRIBUTION DETAILS

During its meeting of 24 August 2016, the Board of Directors of Euronav approved an interim dividend for the first semester of USD 0.55 per share.

For further detail please visit our investor section on the Euronav website where the policy is articulated in full ( www.investors.euronav.com/share/dividend ).

The interim dividend of USD 0.55 will be payable as from 30 September 2016. The shares will trade ex-dividend as from 20 September 2016 (record date 21 September 2016). The interim dividend to holders of Euronext shares will be paid in EUR at the USD/EUR exchange rate of the record date. In view of this interim dividend payment, investors are reminded that shareholders cannot reposition their shares between the Belgian share register and the U.S. share register from 19 September 2016 at 9 a.m. CET until 22 September 2016 at 9 a.m. CET.

Highlights and activity report for the first half year of 2016

January

On 15 January 2016 Euronav sold the VLCC Famenne (2001 – 298,412 dwt), one of its two oldest VLCC vessels, for USD 38.4 million. The capital gain on that sale of about USD 13.8 million was recorded at delivery on 9 March 2016.

On 26 January 2016 Euronav took delivery of the second vessel of the four VLCCs which were acquired as resales of existing newbuilding contracts as announced on 16 June 2015: VLCC Alice (2016 - 299,320 dwt).

As reported on 26 January 2016, Euronav has bought back 500,000 of its own shares in several transactions from 15 January until 25 January 2016 at an average price of EUR 9.5256 per share.

March

On 24 March 2016 Euronav took delivery of the third vessel of the four VLCCs which were acquired as resales of existing newbuilding contracts as announced on 16 June 2015: VLCC Alex (2016 - 299,445 dwt).

 
 

 
 
 
 
May

On 12 May 2016 the Annual General Meeting of Shareholders approved the gross dividend of USD 0.82 per share as proposed by the Board of Directors.

On 13 May 2016 Euronav took delivery of the fourth and last vessel of the four VLCCs which were acquired as resales of existing newbuilding contracts as announced on 16 June 2015: the VLCC Anne (2016 – 299,533 dwt).

On 20 May 2016 Euronav announced that it had agreed with Bretta Tanker Holdings, Inc. to terminate its Suezmax joint ventures. The joint ventures covered four Suezmax vessels: the Captain Michael (2012 – 157,648 dwt), the Maria (2012 – 157,523 dwt), the Eugenie (2010 – 157,672 dwt) and the Devon (2011 – 157,642 dwt). Euronav has assumed full ownership of the two youngest vessels, the Captain Michael and the Maria , and Bretta has assumed full ownership of the Eugenie and the Devon .

June

On 2 June 2016 Euronav announced the start of a commercial joint venture with Diamond S Management LLC and Frontline Ltd. under the name Suezmax Chartering. The aim of the joint venture is to create a single point of contact for cargo owners to access a large fleet of 43 modern Suezmax vessels, including newbuildings, operated on the spot market.

As reported on 1 July 2016, Euronav has bought back 192,415 of its own shares in transactions on 24 June 2016 and 27 June 2016 at an average price of EUR 7.9423.

Subsequent events

On August 16, 2016, Euronav entered into a binding agreement for the acquisition through resale of two VLCCs which are completing construction at Hyundai Heavy Industries for an aggregate purchase price of USD 169 million or USD 84.5 million per unit.

Given the volatility of the tanker markets, the Board of Euronav NV has carefully reviewed all potential impairment indicators such as the freight environment as well as the current market value of the fleet   compared to its carrying amount. Based on this review, the Board of Directors concluded that no impairment test was required at 30 June 2016. The Board will continue to closely monitor developments in the tanker market and review possible impairment indicators again at each reporting date.

The Board of Directors, represented by Carl Steen, its Chairman, and the Executive Committee, represented by Paddy Rodgers, Chief Executive Officer and Hugo De Stoop, Chief Financial Officer, hereby confirm, in the name and for account of Euronav that, to the best of their knowledge, the condensed consolidated interim financial statements for the six months ended 30 June 2016 which have been prepared in accordance with IAS 34 "Interim Financial Reporting" as adopted by the European Union, give a true and fair view, of the assets, liabilities, financial position and profit or loss of the Company and the undertakings included in the consolidation as a whole. The half year management report includes a fair presentation of the important events that have occurred during the first half year and of the major transactions with the related parties, and their impact on the condensed consolidated interim financial statements, together with a description of the principal risks and uncertainties for the remainder of the financial year.

On behalf of the Board of Directors:

Paddy Rodgers
Chief Executive Officer
Carl Steen
Chairman of the Board of Directors
 

 
Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbour legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of counterparties to fully perform their contracts with us, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors. Please see our filings with the United States Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

*
                                                                      *   *
Contact:
Mr. Brian Gallagher – Euronav Investor Relations
Tel: +44 20 7870 0436
Email: IR@euronav.com

Half year report 2016 available on website: Wednesday, 31 August 2016
About Euronav
Euronav is an independent tanker company engaged in the ocean transportation and storage of crude oil. The Company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on Euronext Brussels and on the NYSE under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav's owned and operated fleet consists of 55 double hulled vessels being 1 V-Plus vessel, 30 VLCCs (of which 1 in 50%-50% joint venture), two VLCCs under construction which were recently acquired as resales of existing newbuilding contracts, 20 Suezmaxes (of which two are owned in 50%-50% joint ventures) and two FSO vessels (both owned in 50%-50% joint venture). The Company's vessels mainly fly Belgian, Greek, French and Marshall Island flags.

Regulated information within the meaning of the Royal Decree of 14 November 2007.
 

Condensed consolidated statement of financial position
(in thousands of USD except per share amounts)

                 
   
Note
   
June 30, 2016
   
December 31, 2015
ASSETS
               
                 
Non-current assets
               
Vessels
 
8
   
2,592,723
   
2,288,036
Assets under construction
 
8
   
   
93,890
Other tangible assets
 
8
   
853
   
1,048
Prepayments
 
8
   
5
   
2
Intangible assets
 
-
   
202
   
238
Receivables
 
-
   
174,818
   
259,908
Investments in equity accounted investees
 
20
   
26,721
   
21,637
Deferred tax assets
 
-
   
762
   
935
                 
Total non-current assets
       
2,796,084
   
2,665,694
                 
Current assets
               
Trade and other receivables
 
17
   
174,662
   
219,080
Current tax assets
 
-
   
151
   
114
Cash and cash equivalents
 
-
   
100,488
   
131,663
Non-current assets held for sale
 
6
   
   
24,195
                 
Total current assets
       
275,301
   
375,052
                 
TOTAL ASSETS
       
3,071,385
   
3,040,746
                 
                 
EQUITY and LIABILITIES
               
                 
Equity
               
Share capital
 
-
   
173,046
   
173,046
Share premium
 
-
   
1,215,227
   
1,215,227
Translation reserve
 
-
   
206
   
(50)
Treasury shares
 
11
   
(16,102)
   
(12,283)
Retained earnings
 
-
   
552,074
   
529,809
                 
Equity attributable to owners of the Company
       
1,924,451
   
1,905,749
                 
Non-current liabilities
               
Bank loans
 
13
   
965,056
   
952,426
Other payables
 
14
   
534
   
590
Employee benefits
 
-
   
2,114
   
2,038
Provisions
 
-
   
205
   
436
                 
Total non-current liabilities
       
967,909
   
955,490
                 
Current liabilities
               
Trade and other payables
 
14
   
70,475
   
79,078
Tax liabilities
 
-
   
98
   
1
Bank loans
 
13
   
108,125
   
100,022
Provisions
 
-
   
327
   
406
                 
Total current liabilities
       
179,025
   
179,507
                 
TOTAL EQUITY and LIABILITIES
       
3,071,385
   
3,040,746
                 
                 
 

 
Condensed consolidated statement of profit and loss
(in thousands of USD except per share amounts)


                 
   
Note
   
2016
   
2015
         
Jan. 1 - Jun. 30, 2016
   
Jan. 1 - Jun. 30, 2015
Shipping revenue
               
Revenue
 
7
   
404,450
   
416,529
Gains on disposal of vessels/other tangible assets
 
8
   
13,821
   
2,128
Other operating income
 
-
   
3,702
   
4,296
Total shipping revenue
       
421,973
   
422,953
                 
Operating expenses
               
Voyage expenses and commissions
 
9
   
(24,855)
   
(37,665)
Vessel operating expenses
 
10
   
(80,091)
   
(76,779)
Charter hire expenses
 
-
   
(11,010)
   
(13,726)
Loss on disposal of vessels/other tangible assets
 
8
   
(2)
   
(2)
Loss on disposal of investments in equity accounted investees
 
19
   
(24,150)
   
Depreciation tangible assets
 
8
   
(109,447)
   
(101,688)
Depreciation intangible assets
 
-
   
(50)
   
(11)
General and administrative expenses
 
-
   
(21,721)
   
(21,126)
Total operating expenses
       
(271,326)
   
(250,997)
                 
RESULT FROM OPERATING ACTIVITIES
       
150,647
   
171,956
                 
Finance income
 
-
   
1,884
   
389
Finance expenses
 
-
   
(20,958)
   
(27,424)
Net finance expenses
       
(19,074)
   
(27,035)
                 
Share of profit(loss) of equity accounted investees (net of income tax)
 
20
   
22,276
   
25,015
                 
PROFIT (LOSS) BEFORE INCOME TAX
       
153,849
   
169,936
                 
Income tax benefit (expense)
 
-
   
(159)
   
3,315
                 
PROFIT (LOSS) FOR THE PERIOD
       
153,690
   
173,251
                 
Attributable to:
               
   Owners of the company
 
-
   
153,690
   
173,251
                 
Basic earnings per share
 
12
   
0.97
   
1.13
Diluted earnings per share
 
12
   
0.97
   
1.11
                 
Weighted average number of shares (basic)
 
12
   
158,359,054
   
153,071,800
Weighted average number of shares (diluted)
 
12
   
158,575,911
   
155,915,594
                 
                 
 

 
Condensed consolidated statement of comprehensive income
(in thousands of USD except per share amounts)


                 
   
Note
   
2016
   
2015
         
Jan. 1 - Jun. 30, 2016
   
Jan. 1 - Jun. 30, 2015
                 
Profit/(loss) for the period
       
153,690
   
173,251
                 
Other comprehensive income, net of tax
               
Items that will never be reclassified to profit or loss:
               
Remeasurements of the defined benefit liability (asset)
 
-
   
   
                 
Items that are or may be reclassified to profit or loss:
               
Foreign currency translation differences
 
-
   
256
   
(391)
Equity-accounted investees - share of other comprehensive income
 
20
   
548
   
718
                 
Other comprehensive income, net of tax
       
804
   
327
                 
Total comprehensive income for the period
       
154,494
   
173,578
                 
Attributable to:
               
   Owners of the company
       
154,494
   
173,578
                 
                 
 
 

 
Condensed consolidated statement of changes in equity
(in thousands of USD except per share amounts)

 
Note
Share capital
Share premium
Translation reserve
Hedging reserve
Treasury shares
Retained earnings
Capital and reserves
Other
Total equity
                     
Balance at January 1, 2015
 
142,441
941,770
379
(46,062)
359,180
1,397,708
75,000
1,472,708
                     
Profit (loss) for the period
173,251
173,251
173,251
Total other comprehensive income
(391)
718
327
327
Total comprehensive income
 
(391)
173,969
173,578
173,578
                     
Transactions with owners of the company
                   
Issue of ordinary shares
20,324
208,739
(19,357)
209,706
209,706
Conversion perpetual convertible preferred equity
10,281
64,719
75,000
(75,000)
Dividends to equity holders
(39,656)
(39,656)
(39,656)
Treasury shares
30,708
(23,158)
7,550
7,550
Equity-settled share-based payment
967
967
967
Total transactions with owners
 
30,605
273,458
30,708
(81,204)
253,567
(75,000)
178,567
                     
Balance at June 30, 2015
 
173,046
1,215,228
(12)
(15,354)
451,945
1,824,853
1,824,853
                     
                     
                     
 
Note
Share capital
Share premium
Translation reserve
Hedging reserve
Treasury shares
Retained earnings
Capital and reserves
Other
Total equity
                     
Balance at January 1, 2016
 
173,046
1,215,227
(50)
(12,283)
529,808
1,905,748
1,905,748
                     
Profit (loss) for the period
153,690
153,690
153,690
Total other comprehensive income
256
548
804
804
Total comprehensive income
 
256
154,238
154,494
154,494
                     
Transactions with owners of the company
                   
Dividends to equity holders
11
(129,846)
(129,846)
(129,846)
Treasury shares
11
(3,819)
(2,338)
(6,157)
(6,157)
Equity-settled share-based payment
11
212
212
212
Total transactions with owners
 
(3,819)
(131,972)
(135,791)
(135,791)
                     
Balance at June 30, 2016
 
173,046
1,215,227
206
(16,102)
552,074
1,924,451
1,924,451
                     
                     
 

Condensed consolidated statement of cash flows
(in thousands of USD except per share amounts)
 
                 
   
Note
 
2016
 
2015
       
Jan. 1 - Jun. 30, 2016
 
Jan. 1 - Jun. 30, 2015
Cash flows from operating activities
               
Profit (loss) for the period
       
153,690
   
173,251
                 
Adjustments for:
       
116,750
   
99,507
     Depreciation of tangible assets
 
8
   
109,447
   
101,688
     Depreciation of intangible assets
 
-
   
50
   
11
     Loss (gain) on disposal of investments in equity
     accounted investees
 
19
   
24,150
   
     Provisions
 
-
   
(248)
   
262
     Tax (benefits)/expenses
 
-
   
159
   
(3,315)
     Share of profit of equity-accounted investees, net of tax
 
20
   
(22,276)
   
(25,015)
     Net finance expense
 
-
   
19,075
   
27,035
     (Gain)/loss on disposal of assets
 
8
   
(13,819)
   
(2,126)
     Equity-settled share-based payment transactions
 
-
   
212
   
967
                 
Changes in working capital requirements
       
35,804
   
(55,875)
     Change in cash guarantees
 
-
   
59
   
(39)
     Change in trade receivables
 
-
   
(541)
   
10,581
     Change in accrued income
 
-
   
10,441
   
(12,697)
     Change in deferred charges
 
-
   
(7,457)
   
3,737
     Change in other receivables
 
-
   
45,669
   
(32,370)
     Change in trade payables
 
-
   
(800)
   
16,746
     Change in accrued payroll
 
-
   
(915)
   
(620)
     Change in accrued expenses
 
-
   
(5,174)
   
(4,348)
     Change in deferred income
 
-
   
(5,393)
   
3,062
     Change in other payables
 
-
   
(158)
   
(39,927)
     Change in provisions for employee benefits
 
-
   
73
   
                 
Income taxes paid during the period
 
-
   
73
   
173
Interest paid
 
-
   
(16,428)
   
(33,460)
Interest received
 
-
   
98
   
188
Dividends received from equity-accounted investees
 
20
   
778
   
275
                 
Net cash from (used in) operating activities
       
290,765
   
184,059
                 
Acquisition of vessels
 
8
   
(199,778)
   
(271,743)
Proceeds from the sale of vessels
 
8
   
38,016
   
91,065
Acquisition of other tangible assets
 
8
   
(43)
   
(8,114)
Acquisition of intangible assets
 
-
   
(15)
   
(63)
Proceeds from the sale of other (in)tangible assets
 
8
   
   
63
Loans from (to) related parties
 
-
   
22,047
   
12,835
Proceeds from capital decreases in joint ventures
 
20
   
3,737
   
1,500
Acquisition of subsidiaries, net of cash acquired
 
19
   
(6,755)
   
                 
Net cash from (used in) investing activities
       
(142,791)
   
(174,457)
                 
Proceeds from issue of share capital
 
-
   
   
229,063
Transaction costs related to issue of share capital
 
-
   
   
(19,357)
(Purchase of) Proceeds from sale of treasury shares
 
11
   
(6,157)
   
7,550
Proceeds from new borrowings
 
13
   
262,300
   
338,770
Repayment of borrowings
 
13
   
(304,952)
   
(631,317)
Dividends paid
 
-
   
(129,847)
   
(39,658)
                 
Net cash from (used in) financing activities
       
(178,656)
   
(114,949)
                 
                 
                 
Net increase (decrease) in cash and cash equivalents
       
(30,682)
   
(105,347)
                 
Net cash and cash equivalents at the beginning of the period
 
-
   
131,663
   
254,086
Effect of changes in exchange rates
 
-
   
(493)
   
(515)
                 
Net cash and cash equivalents at the end of the period
       
100,488
   
148,224
                 
                 
 
 
 
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