Navios Holdings in 3rd quarter decline

Greek shipping and logistics company Navios Holding experienced a decline on all fronts in the 3rd quarter, though the company still describes the quarter as solid with an operating result (EBITDA) of USD 40.6 million.

Photo: /ritzau/Thomas Borberg

Navios Holdings, which operates both a dry bulk carrier as well as logistics activities, declined on virtually all fronts in the third quarter this year, compared to the same quarter 2012. The company finished the quarter with a deficit of USD 13 million, an operating profit (EBITDA) of USD 40.6 million, and USD 122.3 million in revenues, according to the interim report. The same items in 2012 came to USD 4.6 million, USD 60.8 million, and USD 164 million, respectively.

In spite of this development, Chairman and CEO Angeliki Frangou is pleased with the result:

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