THIS IS

CONCORDIA MARITIME

Concordia Maritime is an international tanker shipping company, which develops, builds, mans and charters vessels to customers with exacting demands on transport economy, flexibility and safety. The company’s focus is on the transpor- tation of refined petroleum products such as petrol, diesel fuel and aviation fuel. Concordia Maritime was established in 1984 when its Series B share was listed on Nasdaq OMX Stockholm. Its head office is located in Gothenburg, Sweden.

TRANSPORT

Concordia Maritime’s focus is on transporting refined petroleum products. The 12 tankers ordered and delivered in the last few years, as well as in the process of being delivered, are all designed primarily to transport refined petrol- eum products such as petrol, diesel fuel and aviation fuel.

MARKET

After several years of strong demand and high growth, the tanker market weakened sharply in 2009 with the market for crude oil products being most heavily hit.

STRENGTHS

At Concordia Maritime, a deep understanding of the individual customer is combined with cutting-edge competence in the development and design of ships, shipbuilding, manning, chartering and commercial operation. The result is safe and efficient transportation.

CUSTOMERS

Concordia Maritime’s customers include some of the world’s largest oil and energy companies. Customer relations are characterised by partner- ship, cooperation and a long-term perspective.

PARTNERS

Concordia Maritime conducts its business activities in close cooperation with several companies in the Stena Sphere. This means that the company’s business activities can be conducted cost-effectively at the same time as its customers have access to cutting-edge know-how in shipping.

Affärsidé
Att tillgodose kundernas behov av säkra och
kostnadseffektiva tanktransporter baserat på innovation
och förstklassigt utförande.

Goals and development

Growth Profitability Equity ratio
Goal At least 10 percent per year, while maintaining profitability. Return on equity of at least 12 percent. At least 50 percent over a business cycle.
Development 2009 -9% -4% 53%
Explanation Non-recurring costs amount- ing to SEK 174.0 million have been charged to the result for the year, which explains the negative growth. In addition to the explanation under Growth, the company is not fully invested, which, in turn, reduces the rate of return. A high equity ratio as the investment program is in progress.
Development 2000–2009 14% 10% 65%
Challenges ahead Apart from profitability, a weakening US dollar reduces equity since it is denominated in USD. To maintain the profitability of the fleet when the charters expire. To utilise the company’s strong balance sheet to expand its business activities.
Action plan The company has an equity hedge in place as protection against any weakening of the US dollar. To have a good spread in its ship portfolio and continue to work close to the customer. To actively work with business development.
Pressreleases
Press information from the Annual...
Interim report 1 january-31 march...
News
New tanker launched at Brodosplit...
Long term charters boost...
Latest report
3 Month Report 2010
Final Accounts 2009