Announcement No. 2, 2011
Interim financial report for the first half of 2011
J. Lauritzen A/S (JL) experienced a challenging start to the year even though a sizeable part of forecast revenues were secured by contracts. The result for the period was slightly better than expected, however strongly impacted by weakening of markets and counterparty defaults.
EBITDA totalled USD 65.4m for the first six months of 2011 compared to USD 153.6m in 2010, which included non-recurring income from counterparty settlements.