HONG KONG: Aegean Marine Petroleum Network Inc. announced financial and operating results for the third quarter ended September 30, 2015.
Recorded operating income of $17.7 million which includes an impairment charge of $5.3 million related to the closure of Aegean’s Portland, UK business.
Operating income adjusted for the impairment charge was $23.0 million.
Recorded net income attributable to Aegean shareholders of $6.8 million or $0.14 basic and diluted earnings per share.
Net income adjusted for the impairment charge related to the closure of Aegean’s Portland, U.K. business was $12.1 million or $0.25 basic and diluted earnings per share.
Recorded EBITDA of $26.2 million.
EBITDA adjusted for the impairment charge related to the closure of Aegean’s Portland, U.K. business was $31.5 million.
Nikolas Tavlarios, Aegean’s President, commented, “Aegean Marine’s market leadership position and strong financial performance provide a solid foundation for continued growth and diversification. We are excited about the new growth opportunities and revenue streams we are pursuing, and we continue to shift our mix to higher return products such as lower sulfur fuels and blended finished products. Our Fujairah Oil Terminal continues to perform well, operating at excellent efficiency levels and is currently at about 86% capacity. During the quarter we expanded our customer offerings to include cargo sales, a new area of investment for Aegean Marine that is expected to provide us with an additional low cost revenue stream.”
