Navios Reports First Quarter Results (Greece)

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, reported its financial results for the first quarter ended March 31, 2013.

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition,stated, “I am pleased with our results, as we reported $28.0 million of EBITDA in the first quarter of 2013, reflecting 18% growth over the first quarter of 2012. In addition, net income improved to $0.7 million from a net loss of $0.8 million in the first quarter of 2012. As a result of a strong performance, we declared a quarterly dividend of $0.05, resulting in a yield of 6%.”

Angeliki Frangou continued, “Today, we have 23 vessels on the water and an additional 13 vessels to be delivered. We are continuing to grow our fleet in the existing market environment. The Navios brand acts as a beacon for transactional partners, highlighting our professionalism, integrity and ability to execute complex deals. We are patiently surveying opportunities and will transact responsibly when the balance is in our favor.”

[mappress]

Navios, May 5, 2013