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HIGHLIGHTS
· EBITDA for Q4 2021 was USD 41.5 million and EBITDA adjusted for finance
lease effects was USD 66.1 million.
· Net profit for the period Q4 2021 was USD 17.9 million and adjusted net
profit for Q4 2021 was USD 23.6 million.
· Acquisition of six eco-design VLCCs with long term charters to International
Seaways Inc. for a total consideration of USD 375 million.
· Acquisition of two modern LR2 product tankers with 10-year bareboat charters
to Scorpio Tankers Inc. for a total consideration of about USD 70 million.
· Sale of the FPSO Dhirubhai-1 to Aker Energy AS for a total consideration of
USD 35 million.
· Completion of the voluntary offer for all shares in Ocean Yield by KKR and a
subsequent de-listing of the Company from the Oslo Stock Exchange. The Company
was converted from ASA to AS and a new Board of Directors elected.
· Following the retirement of Lars Solbakken, Andreas Røde has been appointed
new CEO of Ocean Yield, effective 4th February 2022.
Andreas Røde, CEO of Ocean Yield, said in a comment:
"I have had the pleasure of working with Lars Solbakken and the great team in
Ocean Yield since the IPO in 2013, initially as an advisor and, since 2017, as
responsible for Business Development. I am very much looking forward to continue
to develop Ocean Yield further with KKR as our new owner and I am confident that
we have the best team and a unique platform for further growth in place. "
Company contact:
Eirik Eide (CFO), Tel +47 24 13 01 91
Company information:
Ocean Yield AS is a ship owning company with investments in vessels on long-term
charters. The company has a significant contract backlog that offers visibility
with respect to future earnings.
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