American Shipping Company ASA : Third quarter 2016 results

Lysaker, 8 November 2016, American Shipping Company ASA announces results for the third quarter ending 30 September 2016

Highlights:

Stable Q3 bareboat revenue of MUSD 22.1 and backlog of secured bareboat revenue of MUSD 336 with average weighted tenor of 3.8 years
Normalized EBITDA for Q3 of MUSD 23.7
Q3 profit share of MUSD 1.4 attributed to AMSC, which reduces the profit share credit
Q3 adjusted net profit of MUSD 3.0
Declared Q3 dividend of USD 0.124 per share, in line with previous guidance for full year 2016 dividends

The full report is attached, along with the Q3 presentation.

Company contacts:

Pål Magnussen, Chief Executive Officer
+47 24 13 00 04

Morten Bakke, Chief Financial Officer
+47 24 13 00 87

Leigh Jaros, Business Controller / Finance Manager
+1 484 880 3741

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

AMSC Q3 presentation
AMSC Q3 report

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: American Shipping Company ASA via Globenewswire

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