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Klaveness Combination Carriers Earnings Release 2022

Jan 19, 2023

Earnings Release

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Definitions and reconciliation

Average TCE earnings \$/day for CABU, CLEANBU and KCC total are alternative performance measures (APM).

Alternative Performance Measures (APMs) are defined on the company's homepage: https://www.combinationcarriers.com/alternative-performance-measures

Unaudited figures
--------------------------	--	--	--	--

Operating income and operating expenses per segment			04 20 22			2022
USD '000	CABU	CLEANBU	Total	CABU	CLEANBU	Total
Operating revenue, vessels	35874	36 324	72 198	126 555	132823	259 378
Voyage expenses	(18449)	(9096)	(27544)	(54119)	(41036)	(95155)
Other revenue	٠	٠	$\sim$	٠	667	667
Net revenues from operations of vessels	17425	27 228	44 654	72436	92454	164890

Reconciliation of average revenue per on-hire day (TCE earnings \$/day)			04 20 22			2022
USD '000	CABU	CLEANBU	Total	CABU	CLEANBU	Total
Net revenues from operations of vessels	17425	27 228	44 654	72436	92454	164890
Other revenue	٠	٠	$\sim$	$\sim$	(667)	(667)
Net revenue ex other revenue	17425	27 228	44 654	72436	91787	164 223

On-hire days	677	740	1416	2703	2814	5518
Average TCE earnings (\$/day)	25757	36812	31531	26796	32 614	29764