Revenues and Profitability Rise:
- Revenue Growth: Revenues increased to US$186 million, a 82% improvement compared to US$ 102 million in the previous fiscal year.
- Gross Profit: Gross profit reached US$91 million, a 202% rise from US$ 30 million in the previous year.
- Improved EBITDA: Net EBITDA rose to US$ 103.7 million, compared to US$ -47.8 million previously, reflecting a 317% improvement.
Driving Performance:
This performance is attributed to a combination of factors:
- Favorable Market Conditions: Increased international average prices within the shipping and petroleum services sector as a whole.
- Strategic Expansion: Increased operation of high-priced marine units for daily rentals within the shipping support sector.
- Service Diversification: The company expanded its service offerings through its subsidiaries, providing a wider range of integrated solutions.
- Cost Management: Effective expense rationalization and the identification of competitive alternatives led to a decrease in operating expenses.