April 27, 2018 12:48 AM ET

Marine

Company Overview of J. Lauritzen A/S

Company Overview

J. Lauritzen A/S provides ocean transport services worldwide. The company operates bulk carriers that offer seaborne transportation services for dry bulk cargoes, as well as for petrochemicals and liquefied petroleum gases. It operates a fleet of approximately 150 vessels. The company was founded in 1884 and is headquartered in Copenhagen, Denmark. J. Lauritzen A/S is a subsidiary of The Lauritzen Foundation.

Tuborg Havnevej 15

Hellerup

Copenhagen,  2900

Denmark

Founded in 1884

687 Employees

Phone:

45 33 96 80 00

Fax:

45 33 96 80 01

Key Executives for J. Lauritzen A/S

Chief Executive Officer
Age: 48
Chief Operating Officer
Age: 43
VP & Head of Corporate Human Resources
Age: 48
Head of Corporate Control and Senior Vice President
Age: 55
Senior VP & Head of Fleet Management
Age: 44
Compensation as of Fiscal Year 2017.

J. Lauritzen A/S Key Developments

J. Lauritzen A/S Reports Earnings Results for the Third Quarter and Nine Months of 2017

J. Lauritzen A/S reported earnings results for the third quarter and nine months of 2017. For the quarter, LBITDA amounted to USD 9.8 million against USD 12.9 million a year ago. The improvement was primarily due to the strengthening of dry cargo markets compared to the weak market conditions in 2016, however partially offset by weakened earnings for its gas carriers. For the first nine months of 2017, the company’s LBITDA amounted to USD 23.2 million, an improvement of USD 19.9 million compared to USD 43.1 million a year ago.

J. Lauritzen A/S Reports Unaudited Group and Parent Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Reports Impairment Losses for the Quarter; Provides Earnings Guidance for the Year 2017

J. Lauritzen A/S reported unaudited group and parent earnings results for the second quarter and six months ended June 30, 2017. For the quarter, on group basis, the company reported revenue of USD 147,707,000 against USD 68,054,000 a year ago. Operating loss before depreciation (LBITDA) and special items was USD 5,997,000 against USD 12,897,000 a year ago. Operating loss (LBIT) before special items was USD 12,388,000 against USD 22,121,000 a year ago. Loss from continuing operations before tax was USD 8,432,000 against USD 22,376,000 a year ago. Loss from continuing operations was USD 8,432,000 against USD 22,414,000 a year ago. Loss for the period attributable to the company was USD 8,432,000 against USD 22,413,000 a year ago. For the six months, on group basis, the company reported revenue of USD 270,947,000 against USD 155,452,000 a year ago. Operating loss before depreciation (LBITDA) and special items was USD 13,401,000 against USD 30,137,000 a year ago. Operating loss (LBIT) before special items was USD 28,252,000 against USD 47,691,000 a year ago. Loss from continuing operations before tax was USD 20,821,000 against USD 30,674,000 a year ago. Loss from continuing operations was USD 20,822,000 against USD 30,720,000 a year ago. Loss for the period attributable to the company was USD 20,822,000 against USD 30,673,000 a year ago. Cash flow from operating activities hereof operations before financial items was USD 7,181,000 against USD 13,475,000 a year ago. Cash flow used in operating activities hereof operations before tax was USD 1,657,000 against USD 8,777,000 a year ago. Cash flow used in operating activities was USD 1,716,000 against USD 8,831,000 a year ago. For the quarter, on parent basis, the company reported revenue of USD 147,707,000 against USD 68,130,000 a year ago. Operating income before depreciation (EBITDA) was USD 1,601,000 against USD 2,793,000 a year ago. Operating loss was USD 5,377,000 against USD 12,930,000 a year ago. Loss before tax was USD 22,377,000 against USD 117,414,000 a year ago. Loss before tax was USD 8,432,000 against USD 22,377,000 a year ago. Loss from continuing operations was USD 8,432,000 against USD 22,414,000 a year ago. For the six months, on parent basis, the company reported revenue of USD 270,947,000 against USD 159,379,000 a year ago. Operating income before depreciation (EBITDA) was USD 1,795,000 against operating loss before depreciation (LBITDA) of USD 310,000 a year ago. Operating loss was USD 13,643,000 against USD 39,651,000 a year ago. Loss before tax was USD 20,821,000 against USD 30,674,000 a year ago. Loss from continuing operations was USD 20,822,000 against USD 30,720,000 a year ago. For the quarter, impairment losses on vessels and vessels under construction were USD 587,000 compared to USD 3,806,000 a year ago. For the year 2017, operating income before depreciation and special items (EBITDA) is expected to be within the range of USD 40 million to USD 10 million in line with the latest guidelines of USD 40 million to USD 0 million. Depreciation and special items are expected to be at levels similar to 2016. In line with the latest guidelines, net financial expenses are expected to increase as financial income related to sale of shareholdings in 2016 is not repeated in 2017.

J. Lauritzen A/S Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Reaffirms Earnings Guidance for 2017

J. Lauritzen A/S reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenue of USD 123,240,000 against USD 87,398,000 a year ago. Operating loss before depreciation (EBITDA) and special items was USD 7,405,000 against USD 17,240,000 a year ago. The improvement was due to the strengthening of dry cargo markets compared to the sharp decline in first quarter 2016 and improved market conditions for smaller gas carriers. Operating loss (EBIT) before special items was USD 15,864,000 against USD 25,570,000 a year ago. Loss from continuing operations before tax was USD 12,389,000 against USD 8,298,000 a year ago. Loss from continuing operations was USD 12,390,000 against USD 8,306,000 a year ago. Loss for the period attributable to the company was USD 12,390,000 against USD 8,259,000 a year ago. Cash flow from operating activities was USD 20,351,000 against USD 6,107,000 a year ago.+ The outlook for 2017 is unchanged relative to the Annual Report for 2016. Operating loss before depreciation and special items (LBITDA) is still expected to be within the range of USD 40 million to USD 0 million, which is better than in 2016, however not satisfactory. Depreciation and special items are expected to be at levels similar to 2016.

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