AI Terminal
d'Amico International Shipping S.A.
Earnings Release • Apr 19, 2022
9964_iss_2022-04-19_a8498318-de65-4d73-b458-9920337bb5f6.pdf
Earnings Release
Open in ViewerOpens in native device viewer
PRESS RELEASE
THE ANNUAL GENERAL SHAREHOLDERS' MEETING APPROVES THE 2021 STATUTORY AND CONSOLIDATED FINANCIAL STATEMENTS
Luxembourg - April 19 th , 2022 – The Annual General Shareholders' meeting of d'Amico International Shipping S.A. (Borsa Italiana, ticker symbol: DIS.MI and hereinafter "DIS" or "the Company"), an international marine transportation company operating in the product tankers market, today approved the 2021 statutory and consolidated financial statements of the Company and resolved to carry forward the Company's statutory 2021 net profit of US\$ 5,077,563 as follows: US\$ 253,878 to Legal Reserve required by applicable Law and in compliance with Article 33 of the Articles of Association of the Company and to Retained Earnings the residual amount equal to US\$ 4,823,685.
The 2021 consolidated key-figures are shown in the table below:
| US\$ Thousand | 2021 | 2020 |
|---|---|---|
| Time charter equivalent (TCE) earnings | 174 086 | 257 776 |
| Gross operating profit / EBITDA | 64 322 | 127 268 |
| Operating result / EBIT | (6 902) | 55 523 |
| Net result/(loss) | (37 261) | 16 556 |
| Adjusted Net Result/(loss) | 22 491 | (7 699) |
Other resolutions
The Annual General Shareholders' meeting of DIS further resolved the following:
- to grant discharge to the former and current members of the Board of Directors for the proper exercise of their functions for the year ended on December 31st, 2021, in accordance with applicable Luxembourg laws and regulations.
- to set the Directors' fees for the 2022 financial year at the aggregate fixed gross amount of € 330,000.00 to be further allotted by the Board of Directors amongst the Directors including those vested with particular offices.
- to acknowledge and approve in an advisory capacity, the Company's 2022 General Remuneration Policy and the Company's 2021 Report on Remunerations being respectively section I and II of the 2022 Board of Directors' Report on Remuneration drafted in compliance with articles 7bis and 7ter of the Luxembourg Law of 24 May 2011 on the exercise of certain rights of shareholders in general meetings of listed companies, as amended.
******
The manager responsible for preparing the company's financial reports, Mr. Carlos Balestra di Mottola, in his capacity of Chief Financial Officer of d'Amico International Shipping S.A. (the "Company") declares to the best of his knowledge, that the consolidated and statutory financial statements prepared in accordance with the applicable set of accounting standards, as published, give a true and fair view of the assets, liabilities, financial position and income statement of the Company and its consolidated subsidiaries and that the report on operation and the management report include a fair review of the development and performance of the business and the position of the Company and its consolidated subsidiaries, together with a description of the principal risks and uncertainties that they face.
d'Amico International Shipping S.A. is a subsidiary of d'Amico Società di Navigazione S.p.A., one of the world's leading privately-owned marine transportation companies, and operates in the product tankers sector, comprising vessels that typically carry refined petroleum products, chemical and vegetable oils. d'Amico International Shipping S.A. indirectly controls, either through ownership or charter arrangements, a modern, high-tech and double-hulled fleet, ranging from 35,000 to 75,000 deadweight tons. The Company has a history and a long tradition of family enterprise and a worldwide presence with offices in key market maritime centres (London, Dublin, Stamford, Monaco and Singapore). The company's shares are listed on the Milan Stock Exchange under the ticker symbol 'DIS.MI'.
d'Amico International Shipping S.A.
Anna Franchin - Investor Relations Manager Tel: +35 2 2626292901 Tel: +37 7 93105472 E-mail: [email protected]
Capital Link
New York - Tel. +1 (212) 661‐7566 London - Tel. +44 (0) 20 7614‐2950 E‐Mail: [email protected]
Media Relations
Havas PR Milan Marco Fusco Tel.: +39 02 85457029 – Mob.: +39 345.6538145 E-Mail: [email protected] Antonio Buozzi Tel.: +39 320.0624418 E-Mail: [email protected]