Key figures
ERRIA Group, 2010
Key Figures | 2010 | 2009 | 2008 | 2007 | 2006 |
| tDKK | tDKK | tDKK | tDKK | tDKK |
Revenue | 76.433 | 66.762 | 80.454 | 73.513 | 81.762 |
Operating profit | (44.437) | (151.813) | (15.017) | 14.451 | 19.479 |
Financials, net | (19.658) | (8.187) | (17.865) | (998) | (7.551) |
Profit for the year | (59.386) | (156.423) | (33.235) | 14.584 | 10.865 |
Total Comprehensive Income for the year | (62.128) | (155.573) | (24.612) | 10.961 | 6.694 |
Equity | 63.579 | 123.726 | 287.267 | 301.262 | 162.306 |
Balance sheet total | 510.282 | 515.487 | 603.399 | 714.046 | 290.599 |
Purchase of vessels | - | - | 255.288 | 563.377 | 237.207 |
Invested capital including goodwill | 374.813 | 367.637 | 377.620 | 77.088 | 138.341 |
Average number of shares | 4,108,810 | 4,108,810 | 4.108.810 | 2.838.370 | 2.352.595 |
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Ratios | % | % | % | % | % |
EBIT magin | (58) | (227) | (19) | 20 | 24 |
Return on invested capital including goodwill EBIT | (12) | (41) | (7) | 13 | 10 |
Return on equity | (34) | (76) | (11) | 8 | 8 |
Equity ratio (%) | 12 | 24 | 48 | 42 | 56 |
Earning per share, equity holders of the company | (13) | (37) | (7) | 6 | 6 |
*) The outlook for 2011
The global economy is expected to grow again in 2011, and the industrial production of chemical products is increasing. Increased demand allows better average rates, but despite the international phase out older vessels due the new International Maritime Organization (IMO) rules, the market is expected in the short term to remain challenging. The first months of 2011, however particular attention to chemical tankers cause for cautious optimism ahead.
Expectations for the market development and hereby freight rates are subdued. The activities are expected to continue to show seasonal variations, which are affected by global trade, and supply and demand in the niche markets where the Company operates.
2011 will be a difficult year however the Company expects a significant improvement in the comprehensive income compared with 2010, but remained negative for the whole year. The improvement is not expected to come until in late 2011. With the current market situation it is not expected to be possible to achieve gains on the sale of vessels. Particular uncertainties relate to movements in rates, the USD rate and oil prices.
The Company segments Consulting, Commercial and Technical Management will provide a significantly positive cash flow and a positive result in 2011.