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Containerships decreases its EBITDA estimate for 2018 and maintains its estimate of revenue growth

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LNG Industry,

Containerships plc has released a statement decreasing its EBITDA estimate for 2018, and maintaining its estimate of revenue growth.

According to the statement, the company’s earlier guidance said: “Total revenue for 2018 is estimated to grow by over 10%. Full-year EBITDA is expected to be better than last year.” The updated guidance states that the company’s EBITDA will reduce from the 2017 comparable level. In terms of revenue growth, the earlier guidance remains valid.

The profit margin was affected by lower-than-expected profitability, non-recurring project costs and higher-than-expected investments related to LNG vessels.

Containerships claims that new LNG vessels are expected to bring significant new business and profitability in 2H19 when vessels are fully operational.

According to the statement, the full financial statements for last year will be published together with the financial statements bulletin on 28 February 2019.

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