Evergas result dips to USD 11.5m deficit

Copnehagen-based Evergas saw a marked decline in both revenue and profit in 2013, from a solid profit in 2012 to a significant deficit in the latest fiscal year. Management is banking on growth in the Middle East and the US.

Gas carrier Evergas, established in Copenhagen with ships from DIS, is presumably not overly jubilant about its financial results for 2013. The carrier falls back into the red with a deficit of USD 11.5 million following profit of USD 8.5 million the year before, according to the newly published annual report.

Net revenue declined as well to USD 53.3 million compared with USD 82.3 million in 2012, while operating profit (EBITDA) landed at minus USD 1.7 million against a profit of USD 16.7 million in 2012.

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