Fourth Quarter and preliminary results 2015
Oslo, 17th February 2016, Ocean Yield ASA ("Ocean Yield" or
the "Company") announces results for the fourth quarter and
preliminary results for the year ending 31st December 2015.
- The Board of Directors has declared a dividend of USD
0.1625 per share for Q4 2015. This is an increase of 0.50
cents per share compared with the previous quarter. On an
annualized basis, the dividend equals USD 0.65 per share.
Based on the closing share price as of 17th February 2016,
this is a dividend yield of 10.7% p.a. This is the 9th
consecutive dividend increase since the IPO of Ocean Yield
in July 2013.
- EBITDA was USD 56.6 million for the fourth quarter 2015
compared with USD 53.9 million for the fourth quarter of
2014. Adjusted for finance lease effects, the EBITDA was USD
59.8 million in Q4 2015.
- Operating profit was USD 3.9 million for the fourth
quarter 2015 compared with USD 27.1 million for the fourth
quarter 2014. The Operating Profit for the fourth quarter
2015 includes an impairment charge of USD 28.6 million
related to goodwill in Aker Contracting FP ASA, the owner of
the FPSO Dhirubhai-1.
-Net profit after tax was USD 28.3 million for the fourth
quarter 2015 compared with USD 30.5 million for the fourth
quarter of 2014. The net profit for Q4 2015 includes a tax
benefit of USD 24.6 million. Adjusted net profit was USD
28.0 million compared with USD 27.1 million in Q4 2014.
- Cash & cash equivalents were USD 117.7 million at the end
of the fourth quarter 2015, Total assets were USD 2,024.8
million and the Book equity ratio was 35.0%
- The dividend will be paid on or about 3rd March 2016 to
shareholders as of 22nd February 2016 registered with the
Norwegian Central Securities Depository (the "VPS") as of
24th February 2016 (the "Record Date"). The ex-dividend date
will be 23rd February 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.