Premuda has closed the first trimester with a net loss of -14,6 million euros



In the first trimester of this year the shipowning society Italian Premuda has recorded revenues Time base charter pairs to 15,4 million euros, down of the -6,6% regarding 16,5 million euros in the correspondent period of 2014. The operating result has been of sign negative for -3,8 million euros respect to operating liabilities of -1,8 million euros in the first trimester of 2014. Of sign less also the result clearly that it has been pairs to -14,6 million euros respect to a net loss of -3,3 million euros in the first three months last year.

The Italian company has explained that the worsening of the result of about 11,3 million euros regarding the first trimester of the 2014 "drift essentially: from the games financial institutions, that they discount passive differences of change (not realized) by update of the mortgages in dollars for about 10,1 million euros, and by the fact that the result of first trimester 2014 had benefitted of capital gains from cession ships for about 1,7 million euros. The cited differences of change, not realized - it has specified Premuda -, in the past were recorded directly to net worth (hedge accounting). As a result of the suspension of the reimbursements according to the process of restructure of the indebtedness, the effectiveness of the cover has failed and consequently, beginning from the end of exercise 2013 and until the definition of a new one slowly of reimbursement, contributes to the economic result of the period. The produced distorsivo effect from such differences of change - it has found the company - appears obvious considered that in case the medium change of the dollar in the first trimester the 2015 and fine punctual change to period had turned out respective pairs to the medium value and the final value recorded in the first trimester 2014 (expression therefore of a dollar more weak person), to parity of every other condition, the result of first trimester 2015 would have turned out improved of 14,7 million euros (and therefore in substantial balancing, in reason of strong differences of change of positive sign) while the net worth on March 31, 2015 would have turned out substantially unchanged (advanced of about 0,3 million euros)".

Moreover Premuda has remembered that "the result of the period still is weighted down by the lacked contribution the FPSO Four Rainbow, remained in disarmament waiting for the definition of a new project of employment". To such purpose the company has specified that "they continue the efforts for the definition of a new contract of employment, that could be developed in partnership with an operating head physician of the field, on the base of a letter of attempts (not binding) undersigned between the parts".