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Camillo Eitzen & Co ASA (CECO) reports EBITDA of USD 80.1 million for the 2nd quarter, up from USD 58.7 million last quarter.
Net profit 2nd quarter of USD 28.7 million compared to USD -12.1 million last quarter.
CECO reports 1st half year EBITDA of USD 138.7 million, compared to USD 88.3 million 1st half year 2007. Net profit of USD 16.7 million compared to USD 46.7 million 1st half year 2007.
Continued strong ethylene market - improved EBITDA for Eitzen Gas to USD 22.8 million compared to USD 19.9 million last quarter.
Volatile bulk market - improved EBITDA for Eitzen Bulk to USD 15.7 million, compared to EBITDA of USD 6.9 million last quarter.
Stable chemical market, Eitzen Chemical EBITDA of USD 36.2 million (including sale profit of USD 3.5 million) compared to EBITDA of USD 31.8 million last quarter.
Improved result for EMS due to improved margins, profit from sale of non-core activities as well as one month of income from the acquired Seven Seas Shipchandlers - EMS EBITDA USD 5.7 million compared to USD 1.8 million last quarter.
CECO sold the two bulk vessels Sibulk Quality and Sibulk Innovation with delivery to new owners in July and early August. Total price for the two vessels was USD 145.5 million.
