First Quarter 2016 Report
Oslo, 9th May 2016, Ocean Yield ASA ("Ocean Yield" or the
"Company") announces results for the first quarter ending
31st March 2016.
-The Board of Directors has declared a dividend of USD
0.1675 per share for Q1 2016. This is an increase of 0.50
cents per share compared with the previous quarter. On an
annualized basis, the dividend equals USD 0.67 per share.
Based on the closing share price as of 9th May 2016, this is
a dividend yield of 10.3% p.a. This is the 10th consecutive
dividend increase since the IPO of Ocean Yield in July 2013.
-EBITDA was USD 58.7 million for the first quarter
2016 compared with USD 55.2 million for the first quarter of
2015. Adjusted for finance lease effects, the EBITDA was USD
63.6 million in Q1 2016 compared to USD 57.3 million in Q1
-Net profit after tax was USD 18.6 million for the
first quarter 2016 compared with USD 28.1 million for the
first quarter of 2015. The net profit after tax was
negatively affected by a net amount of USD 7.2 million from
mark-to-market of derivatives and currency fluctuations.
Further, the net profit includes a tax expense of USD 3.1
million which is related to a change in deferred tax. These
amounts had no cash effect for the Company in the quarter.
-Net profit after tax, adjusted for non-recurring
items, currency fluctuations, mark-to-market of derivatives
and changes to deferred tax, was USD 29.0 million compared
with USD 26.8 million in Q1 2015.
The dividend will be paid on or about 26th May 2016 to
shareholders as of 13th May 2016 registered with the
Norwegian Central Securities Depository (the "VPS") as of
19th May 2016 (the "Record Date"). The ex-dividend date will
be 18th May 2016.
For the full report visit : www.ocy.no/ir
Lars Solbakken, Chief Executive Officer
+47 24 13 01 90
Eirik Eide, Chief Financial Officer
+47 24 13 01 91
Investor relations contact:
Marius Magelie, Vice President Finance & IR
+47 24 13 01 82
This information is subject of the disclosure
requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.