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23 March 2019 The on-line newspaper devoted to the world of transports 13:46 GMT+1



April 21, 2011

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Original news
In the first three months of 2011 operating income of Belgian CMB grew by 44.9%

Net profit declined by 85, 9% because of costs

The Belgian shipping company Compagnie Maritime Belge (CMB), which operates mainly in the dry bulk shipping company wholly controlled by Bocimar and is also present in the air transport sector through its joint venture with Petercam ASL Aviation, closed the first quarter of this year with a net profit of € 3.4 million on revenues of € 110.1 million compared to € 24.2 million on revenues of € 100.4 million in the corresponding period of 2010. The decrease in net income was driven by financial losses of € 16.1 million recorded in the first three months of 2011 compared to income of EUR 10.1 million in the first quarter of last year.

EBITDA amounted to EUR 36.7 million, compared to 25.7 million in the first quarter of 2010 and operating profit (EBIT) to EUR 20.7 million compared to the corresponding 14.2 million last year.

The contribution to net income of subsidiary Bocimar was EUR 16.3 million compared to EUR 12.6 million in the first three months of 2010. Currently the company's fleet consists of 11 Handymax bulk carriers and 15 Capesize. The Belgian group has another 16 vessels under construction, including five Capesize, two Panamax and post-nine Handysize.
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