Pacific Basin Shipping Ltd (STU:OYD)
€ 0.2201 0.0095 (4.51%) Market Cap: 1.21 Bil Enterprise Value: 1.29 Bil PE Ratio: 16.08 PB Ratio: 0.72 GF Score: 53/100

Full Year 2021 Pacific Basin Shipping Ltd Earnings Call Transcript

Feb 24, 2022 / 09:30AM GMT
Release Date Price: €0.424 (-6.19%)
Operator

Welcome to today's Pacific Basin 2021 Annual Results Announcement Call. I am pleased to present Chief Executive Officer, Mr. Martin Fruergaad, for the first part of this call. (Operator Instructions) And afterwards, there will be a question-and-answer session. Mr. Fruergaad, please begin.

Martin Fruergaad
Pacific Basin Shipping Limited - CEO & Executive Director

Thank you, and welcome, ladies and gentlemen, and thank you for attending Pacific Basin's 2021 Annual Results Earnings Call. My name is Martin Fruergaad, I'm CEO of Pacific Basin, and I'm joined on the line by our CFO, Peter Schulz, who is currently in London. Please turn to Slide 3.

In 2021, we saw the strongest dry bulk freight market since 2008 and generated our best result in our company's 34-year history. We made an underlying profit of USD 698 million and a net profit of USD 845 million, yielding an exceptionally strong return on equity of 58%.

Our results were positively impacted by USD 152 million reversal of the Handysize vessel impairment provision we took in 2020. The

Already have an account? Log in
Get the full story
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot