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 81% of total assets as of yearend 2018. The company has focus on long-term relationships, financial solvency and liquidity.
In 2019, the company posted operating income of NOK 897 million (891 in year 2018), which includes gain on sale of one bulk carrier. Operating expenses totalled NOK 826 million (836). The operating result before depreciation and reversal of impairment losses (EBITDA) came in at NOK 196 million (186), while the operating result (EBIT) closed on NOK 71 million (55). Total depreciation and amortisation recognised in the financial statements amounted to NOK 131 million (131).
The result for the year before tax and minority interests came in at NOK 64 million (NOK 37). After minority interests of NOK 1 million, the consolidated result for the year closed on NOK 63 million.
More details in the annual report, found below.