Saga Tankers ASA : Q4 2018 financial results

Saga Tankers ASA reported a net asset value (NAV) of NOK 302.1 million end of the fourth quarter 2018, corresponding to NOK 1.14 per outstanding share, excluding minority interests and with Vallhall valued at book value.

By the end of the fourth quarter, Saga had a cash balance of NOK 143 million. All long-term debt are related to the real estate in Vallhall (Saga’s ownership is 55%).

During the quarter, the market value of shares held in SD Standard Drilling Plc, Vistin Pharma ASA and Pareto Bank ASA was reduced with NOK 75.5 million. This is classified as net loss from available for sale assets.

Saga has during the quarter disposed all remaining shares in Pareto Bank ASA The Company has realized a total profit of NOK 55.3 mill on the shares in Pareto Bank ASA in the period from the acquisition to disposal, dividends included.

The company made a dividend distribution of NOK NOK 40 million in the quarter, corresponding to NOK 0.15 per share.

For the years 2017 and 2018 Saga have distributed in total ~NOK 431 million, corresponding to NOK 1.62 per share to its shareholders.

Saga has during first quarter 2019 increased its ownership in Vistin Pharma ASA from 12.4% to 14.2% with a purchase price of NOK 6.9 per share.

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Source: Saga Tankers