Concordia Maritime - Oil should always travel first class

Result
The Group’s first-quarter result after financial items was SEK -32.7 (10.7) million. Sales totalled SEK 203.9 (217.8) million. The result per share was SEK -1.10 (0.56) after tax, which is equivalent to SEK -0.54 (0.40) after full conversion.

Net worth and shareholders’ equity
Net worth per share after full conversion is estimated to be SEK 24.55 (27.49) based on the appraisal carried out by three independent shipbrokers on 30-11-1999. Shareholders’ equity per share amounted to SEK 19.37 (21.15). The SEK/USD exchange rate was 8.67 (8.30) on 31-03-2000.

Liquidity and investments
On 31-03-2000, the Group’s disposable liquid funds, including unutilised credit facilities, amounted to SEK 629.0 (31-12-1999: 699.9) million. Investments during the period amounted to SEK 25.4 (5.5) million, consisting of payments relating to the two Stena V-MAX VLCCs.