Eimskip issues profit warning

Eimskip has issued a profit warning updating investors that 2019 EBITDA will come in below management expectations. 

The main reason for the lower EBITDA is a 10 percent drop in container volumes for Q4, compared to the same period in 2018.

In addition, the company incurred higher than expected costs related to the closing of its office in Belgium and the moving of stevedoring services in Rotterdam.

During the past year Eimskip has introduced cost and streamlining measures to compensate for lower container volumes but these were not sufficient to offset the drop in Q4.

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