AS Uglands Rederi consolidated has a solid balance sheet and a strong financial position, with a relative low level of interest bearing debt and a high equity ratio. The recognized equity constitutes 66% of total assets as of yearend 2022. The company has focus on long-term relationships, financial solvency and liquidity.
In 2022, the company posted operating income of NOK 1 260 million (928 in year 2021), which includes gain on sale of one bulk carrier of NOK 78 million. Operating expenses totalled NOK 851 million (683). The operating result before depreciation (EBITDA) came in at NOK 515 million (272), while the operating result (EBIT) closed on NOK 409 million (245). Total depreciation recognised in the financial statements amounted to NOK 106 million (100).
The result for the year before tax and minority interests came in at NOK 384 million (259). After tax expenses of NOK 77 million and minority interests of NOK -1 million, the consolidated result for the year closed on NOK 306 million.
More details in the annual report, found below.