In GC Rieber Shipping’s financial reporting for the fourth quarter of 2021 the
segment Subsea & Renewables is discontinued. This is due to the agreed sale of
Polar Onyx as announced 20.12.2021.
Operating income from continuing operations was NOK 0.4 million in the fourth
quarter of 2021, compared to NOK 0.3 million in the corresponding period of
2020. EBITDA from continuing operations were NOK 6.3 million, compared to
negative NOK 0.7 million in the fourth quarter of 2020.
The net profit from continuing operations were NOK 8.6 million in the fourth
quarter of 2021, compared to a net loss of NOK 13.1 million in the corresponding
period of 2020. Including profit from discontinuing operations, net loss in the
fourth quarter was negative NOK 71.3 million, compared to a net loss of NOK 44.9
million in the fourth quarter of 2020.
Preliminary net profit for the full year 2021 from continuing operations were
NOK 139.0 million, and NOK 177.9 million including discontinued operations.
A dividend of NOK 0.50 per share will be proposed to the annual general meeting
At year-end, GC Rieber Shipping’s cash holding was NOK 482.7 million.
“In 2020, GC Rieber Shipping made a strategic decision to become a pure
shipowner and project-house with focus on developing profitable and sustainable
maritime projects. The sale of Polar Onyx, the final asset in GC Rieber
Shipping’s Subsea & Renewables segment, concludes this transformation”, Einar
Ytredal, CEO of GC Rieber Shipping commented. “Following the sale, GC Rieber
Shipping will emerge debt free with significant investment capacity, ready to
invest in new vessel solutions contributing to the energy shift.”
Please find the report and presentation for the fourth quarter 2021 enclosed.
Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Øystein Kvåle, CFO, GC Rieber Shipping, phone: +47 479 02?919
About GC Rieber Shipping:
GC Rieber Shipping is a shipowner and project-house with focus on developing
profitable and sustainable maritime projects.
Further information about the company, please go to www.gcrieber-shipping.com.
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.