Exmar 1H EBIT at USD 73.8 Mln (Belgium)

Exmar reported the provisional results for the first half of 2013.

The Group has an operating result (EBIT) of USD 73.8 million for the first semester 2013, including 52.8 USD million capital gain on the sale of 50% of EXMAR LPG to Teekay LNG Partners (USD 52.5 million for the first semester 2012).

The financial result has been positively influenced by the change in fair value of interest rate derivatives entered to hedge the interest rate exposure on long-term financing of the fleet, which resulted in an non-cash unrealized profit of USD 27.1 million (2012: USD -1.0 million), and by USD -0.1 million unrealized exchange loss (2012: USD -0.3 million). The consolidated result after taxation for the first half 2013 amounts to USD 90.2 million (2012: USD 33.6 million).

LNG

All LNGC’s and LNGRV’s will continue to contribute fully to the results of the second half of 2013 with the exception of the EXCEL which is employed up to the planned dry-docking scheduled for end September. Construction of the world’s first liquefaction barge for Pacific Rubiales Energy is progressing well. Keel laying of the FLRSU took place on 1 July; the construction is on schedule and within budget.

[mappress]
LNG World News Staff, August 30, 2013