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MPC Container Ships Reports Q4 2023 Results

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OSLO, Norway, Feb. 27, 2024 /PRNewswire/ —

Highlights 

Strong operating revenues of USD 152.8 million.EBITDA was USD 93.6 million, compared to USD 127.0 million in Q4 2022. Adj. for non-recurring items, EBITDA was USD 101.5 million (Q4 2022: USD 114.3 million).Non-recurring impairment charges of USD 34.9 million and USD 6.5 million in loss of disposal recorded in the period (both non-cash effective)Profit for the period was USD 35.7 million. Adj. for non-recurring items, the profit for the period was USD 78.5 million compared to USD 91.0 million in Q4 2022.Adj. EPS was USD 0.18 (Q4 2022: USD 0.21) and the Board declared a quarterly recurring dividend of USD 0.13 per share.Average TCE was USD 27,405 per day in Q4 2023, down from USD 31,279 in Q4 2022Fleet utilization was 98.2%, up from 97.8% in Q4 2022For 2024, management currently expects, subject to certain assumptions, operating revenues in the range of USD 435-470 million and EBITDA in the range of USD 240-280 million.As at December 31, 2023, the Group’s fleet consisted of 59 vessels, with an aggregate capacity of approximately 126,943 TEU. Of these vessels, three were categorized as held for sale.

Commenting on MPCC’s results in the fourth quarter and for the full year of 2023, CEO, Constantin Baack, said:

“As we reflect on the full year of 2023, I am pleased to share MPC Container Ships’ continued resilience, progress, and sustained strong financial performance. Throughout the year, we remained committed to delivering value to our shareholders, maintaining operational excellence in a volatile market environment with modest growth and geopolitical challenges.

Our financial performance in the fourth quarter underscores our consistent track record. Utilization remained high at 98.2%, and we continue to adhere to our low leverage-strategy, with our leverage standing at 13.3% at the end of 2023, whilst 38 vessels in our fleet are debt-free. Furthermore, our backlog remains robust, with contracted revenues of USD 1 billion and 78% of available trading days covered for 2024. Our backlog provides us with significant earnings visibility and reinforces our confidence in the year ahead.

A key feature of our performance is our commitment to shareholder returns. Throughout the year, we distributed approximately USD 293 million in dividends, corresponding to a dividend yield of 43% for the year. Including the dividend declared for the fourth quarter, our total dividends distributed and declared over the last twelve months amount to approximately USD 350 million, representing more than 50% of the company’s market cap at the beginning of 2023.”

Throughout 2023, MPCC has emphasized sustainability initiatives, aiming to reduce carbon emissions, and working closely with our charter customers to conclude mutual projects and investments, with an aim ti foster a more environmental maritime landscape.

Speaking to MPCC’s ESG ambitions and collaboration with customers, Constantin Baack added:

“In 2023, MPCC continued to prioritize sustainability as a means to drive forward our overall strategic goals. With investments into efficiency-enhancing retrofits together with our charter customers and several dual-fuel and eco-design newbuildings under construction, we aim to decrease GHG emissions and enhance the long-term competitiveness of our fleet, creating long-term shareholder value.

Furthermore, MPCC recently set new greenhouse gas emissions intensity reduction targets in line with the IMO’s industry carbon intensity targets, demonstrating our dedication to decreasing emissions while we remain strongly committed to our low-leverage strategy and distribution policy.”

Key figures

Q4 2023
                             (unaudited)

Q4 2022 (unaudited)

FY 2023 (unaudited)

FY 2022 (audited)

Operating revenues

USD m

152.8

162.1

711.3

616.8

EBITDA

USD m

93.6

127.0

518.4

522.3

Adjusted EBITDA

USD m

101.5

114.3

428.5

451.5

Profit for the period

USD m

35.7

103.6

325.1

435

Adjusted profit for the period

USD m

78.5

91.0

336.7

364.3

Operating cash flow

USD m

96.8

125.4

484.8

136.5

EPS

USD

0.08

0.23

0.73

0.98

Adjusted EPS

USD

0.18

0.21

0.76

0.82

DPS*

USD

0.13

0.15

0.64

1.03

Total ownership days

days

5,675

5,336

22,236

21,671

Total trading days

days

5,527

5,079

21,553

20,590

Utilization

98.2 %

97.8 %

98.1 %

97.9 %

Average TCE

per day

27,405

31,279

28,816

28,625

Average OPEX

per day

6,808

6,937

6,751

6,363

Leverage ratio

13.3 %

16.1 %

13.3 %

16.1 %

 

* Dividends per share (DPS) comprises the recurring dividend per share and any event-driven dividends per share declared for the period.

The above information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Q4 2023 Earnings Call:

Constantin Baack, CEO, and Moritz Fuhrmann, CFO, will present the results in an earnings call today at 15:00 CET / 09:00 ET, followed by a Q&A session. The earnings call can be accessed live via webcast or conference call and questions can be submitted orally or in writing. A recording of the earnings call will be available on demand at the Company’s website after the live event has concluded.

The Q4 2023 report and presentation materials are attached to this release and available at the Company’s website at https://www.mpc-container.com/investors/

The webcast can be accessed through the following link: https://channel.royalcast.com/landingpage/hegnarmedia/20240227_3/

Alternatively, participants may dial in using the below information:

NO: +47 21 95 63 42
DE: +49 30 2178 9327
UK: +44 20 3769 6819
US: +1 646 787 0157
DK: +45 78 76 84 90
SE: +46 40 682 06 20

PIN code: 304648

For more information, contact:
ir@mpc-container.com 

About MPC Container Ships
MPC Container Ships ASA (ticker code “MPCC”) is a leading container tonnage provider focusing on small to mid-size container ships. Its main activity is to own and operate a portfolio of container ships serving intra-regional trade lanes on fixed-rate charters. The Company is registered and has its business office in Oslo, Norway. For more information, please visit www.mpc-container.com.

Forward-looking statements:

This announcement includes forward-looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company’s plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management’s current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company’s regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.

The following files are available for download:

 

 

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Southwire Shares Fourth Annual Inclusion Report, Showcasing Inclusion in Action

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CARROLLTON, Ga., Sept. 8, 2026 /PRNewswire/ — Our Future Is Powered by Inclusion.

At Southwire, inclusion is more than a commitment. It is one of our core values and a key part of how we build worth for our team members, customers, communities and shareholders.

We’re proud to share our 2025 Inclusion Report, highlighting the progress we’ve made in advancing an inclusive culture and strengthening our impact across six key focus areas: People Leaders, Inclusive Workforce, Employee Resource Groups, Reputation and Community, Equity and Governance, and Value and Supply Chain.

Last year, our Inclusion Employee Net Promoter Score (eNPS) reached 70, an increase of 17 points since 2021. We also invested $1 million in inclusion-focused initiatives, contributed more than 4,800 volunteer hours in support of nonprofit organizations, and spent $890 million with small and certified-owned suppliers.

From bringing together more than 2,000 team members at Include Summit to earning recognition as one of the World’s Most Ethical Companies® and one of America’s Greatest Workplaces for Inclusion, we continue to create opportunities for people to contribute, grow and lead.

As we look ahead, our focus remains clear: embedding inclusion into how we lead, operate and grow. When every team member is empowered to contribute, we create stronger ideas, better decisions and greater value for all our stakeholders.

We invite you to explore the full Inclusion Report to learn more about the people, programs and partnerships helping power our future.

Please also visit our social media channels and Inclusion website to help us share our story.

Together, we will continue Building Worth for generations to come.

For more Southwire news, visit www.southwire.com/newsroom.

About Southwire
Southwire Company, LLC is North America’s leading wire and cable company. The $9.7B organization is made up of more than 9,000 team members across the globe who unite as ONE Southwire each and every day to serve each other, their customers and their communities. Southwire and its subsidiaries provide solutions including building wire and cable, metal-clad cable, utility products, portable and electronic cord products and OEM wire products. In addition, Southwire offers electrical products, engineered solutions and a variety of field support services. For more on Southwire’s products and solutions, its community involvement and its vision of sustainability, visit www.southwire.com.

© 2026 Southwire Company, LLC. All Rights Reserved.

Contact: Ashley Bush
Senior Director, Communications
Phone: (678) 684-7634
ashley.bush@southwire.com

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ZAGENO Earns Frost & Sullivan’s 2026 North American Life Sciences E‑Commerce Company of the Year Recognition

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Honored for transforming life sciences procurement through digital innovation, automation, and a customer-first platform

SAN ANTONIO, Sept. 8, 2026 /PRNewswire/ — Frost & Sullivan has recognized ZAGENO with its 2026 North America Life Sciences E-Commerce Company of the Year Recognition for helping transform life sciences e-commerce beyond traditional online purchasing into a unified procurement orchestration platform. By serving as a single entry point into scientific procurement, ZAGENO enables scientists, procurement teams, suppliers, and enterprise systems to operate within one connected workflow—reducing procurement friction while improving governance, visibility, and operational efficiency across research organizations.

As life sciences organizations embrace increasingly digital, automated, and globally distributed research operations, procurement has become a strategic function requiring greater visibility, governance, and integration. Rather than navigating fragmented supplier portals, distributor systems, and punch-out catalogs, organizations increasingly need a single platform that orchestrates the entire procurement lifecycle. ZAGENO delivers that capability by unifying sourcing, ordering, approvals, supplier management, spend visibility, tracking, and payment into one governed workflow.

Founded in 2015 and headquartered in Cambridge, Massachusetts, ZAGENO has built one of the industry’s largest procurement ecosystems, providing access to more than 50 million laboratory products from over 5,000 suppliers. Serving as a single entry point into scientific procurement, the platform centralizes sourcing, ordering, approvals, tracking, and payment while integrating directly with Enterprise Resource Planning (ERP), Procure-to-Pay (P2P), and accounting platforms such as SAP, Coupa, and Oracle NetSuite. Researchers can search by product name, Chemical Abstracts Service (CAS) number, or chemical structure, compare pricing, availability, and delivery timelines in real time, and consolidate purchases from multiple suppliers into a single purchase order and invoice. At the same time, procurement teams maintain governance, supplier oversight, and spend visibility through configurable approval workflows operating seamlessly in the background.

“ZAGENO continues to redefine digital procurement by extending life sciences e-commerce beyond an online marketplace into a procurement orchestration platform,” said Ana Dominguez, Best Practices Research Analyst at Frost & Sullivan. “Its ability to unify supplier networks, enterprise systems, governance, and intelligent automation within a single workflow helps reduce procurement friction while enabling researchers and procurement teams to operate more efficiently. Investments such as the company’s expanded engineering hub in Bangalore have further accelerated innovation and enabled faster delivery of customer-driven enhancements aligned with evolving research needs.”

The platform reduces longstanding procurement inefficiencies by orchestrating suppliers, enterprise systems, and purchasing workflows through a single interface. Scientists save an average of 6.5 hours per week sourcing and ordering laboratory materials, while procurement teams benefit from configurable approval workflows, supplier governance, real-time spend visibility, automated three-way matching, and streamlined reconciliation that can reduce invoice processing time by as much as 40%. Together, these capabilities improve compliance, increase operational efficiency, and enable researchers to spend more time focused on scientific discovery.

ZAGENO continues to advance AI-powered capabilities that improve search precision, surface supplier and fulfillment insights, automate repetitive procurement tasks, and support smarter purchasing decisions across the procurement lifecycle. Combined with one of the industry’s largest supplier ecosystems, deep enterprise integrations, and a customer-driven innovation model, these capabilities position ZAGENO as a trusted procurement infrastructure partner helping life sciences organizations navigate increasingly complex research environments.

“We’re honored to receive this recognition from Frost & Sullivan. As research organizations become more connected and more complex, procurement has evolved far beyond purchasing. Our vision has always been to simplify that complexity by bringing scientists, procurement teams, suppliers, and enterprise systems together through a single procurement orchestration platform. We’re proud to see that vision recognized, and even more excited about what’s ahead for our customers,” said Florian Wegener, CEO & Co-Founder, at ZAGENO.

Each year, Frost & Sullivan honors one company with its Company of the Year Recognition, awarded to organizations that demonstrate exceptional growth, innovation, and customer value. The selection process includes rigorous research, competitive benchmarking, and in-depth industry analysis.
Frost & Sullivan’s Best Practices Awards recognize companies worldwide for excellence in leadership, technology innovation, customer service, and strategic execution—highlighting those that are shaping the future of their industries.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:

Lindsey Whitaker
P: +91- 9953764546
E: Lindsey.Whitaker@frost.com

About ZAGENO

ZAGENO is the procurement orchestration platform for life sciences, connecting scientists, procurement teams, suppliers, and enterprise systems through a single, governed workflow. With access to more than 50 million laboratory products from over 5,000 suppliers, ZAGENO helps research organizations simplify procurement and accelerate discovery. Talk to the ZAGENO team to learn more: https://go.zageno.com/request-a-demo.

Contact:
Ivana Visnjic-Lynch
P: +1 508 524 5206
E: ivana.visnjic-lynch@zageno.com

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SOURCE Frost & Sullivan

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Shutterstock Appoints Three Accomplished Business Leaders to Board of Directors

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Timothy Adams, Matthew Salzberg, and Michael Thompson bring extensive financial, operational, investment, and technology expertise to Shutterstock’s Board

NEW YORK, Sept. 8, 2026 /PRNewswire/ — Shutterstock, Inc. (NYSE: SSTK), a family of brands delivering scalable creative and GenAI solutions to help customers fuel great work, today announced the appointment of Timothy Adams, Matthew Salzberg, and Michael Thompson to its Board of Directors.

The appointments add three accomplished executives and investors with deep experience across technology and emerging markets, investment and capital allocation, building and scaling businesses, and public-company finance and governance. Their collective expertise further strengthens the Board as Shutterstock remains focused on creating long-term value for the Company and its shareholders.

“The caliber of leaders joining our Board speaks to both the strength of Shutterstock and the opportunity ahead,” said Jon Oringer, Executive Chairman of the Board at Shutterstock. “Tim, Matt, and Michael have each built impressive careers leading, investing in and advising companies through periods of growth and transformation. They bring deep financial, operational, governance, and technology expertise, along with the independent perspective that comes from having successfully navigated complex business environments. We are thrilled they have chosen to bring that experience to Shutterstock.”

Timothy Adams is a seasoned financial executive and board director with more than 20 years of leadership experience across public and private technology companies. He currently serves as Chief Financial Officer of Validity Inc. and previously served as Chief Financial Officer of Rapid7, Inc., and BitSight Technologies, Inc. Adams also served on the Board of Directors of Model N, where he chaired the Audit Committee. Throughout his career, he has led and advised on IPOs, M&A transactions, capital raises, and strategic financings, bringing extensive experience in public-company governance, financial discipline, and investor relations. He holds a B.S. in Accounting from Murray State University, and an M.B.A. from Boston University.

Matthew Salzberg is a CEO, investor, and founder with extensive experience building, scaling, and transforming technology-enabled businesses. He is co-founder and Chairman of Unlimited, an alternative investment manager, and co-founder of Embark Veterinary and Coldcart. Salzberg founded Blue Apron in 2011 and served as CEO for its first six years, growing the company from an idea into a nationally recognized consumer brand with approximately $910 million in annual revenue and more than 5,000 employees. He led Blue Apron’s 2017 initial public offering and later served as Chairman of its Board. Salzberg also founded venture capital firm Material, and previously served as CEO of Ambr Group. He holds an A.B. in Economics, summa cum laude, from Harvard College, and an M.B.A. from Harvard Business School.

Michael Thompson has served as Managing Partner of Reinvent Capital, a private investment fund focused on technology companies, since 2017. Previously, he founded and served as Managing Partner of BHR Capital, a New York-based hedge fund. Thompson has invested in and advised numerous innovative technology companies throughout his career, with particular experience across aerospace, advanced energy, emerging technologies, and AI applications in the physical world. He currently serves on the Boards of Directors of Joby Aviation, Oklo Inc. and American Banknote Corporation, and is an advisor to Xona Space Systems. Thompson holds a Bachelor of Business Administration in International Finance from the Honors Program at the University of Georgia.

About Shutterstock
Shutterstock is in the business of turning ideas into impact. Powered by a global network of millions of creators and our cutting-edge technology, we provide businesses, creatives, and brand leaders with the essential, universal ingredients to make their work more effective. Shutterstock offers access to one of the world’s largest and most diverse collections of high-quality licensable assets, specialized training datasets, evaluation tools, and end-to-end strategic partnerships for the full model training lifecycle, as well as advertising and distribution solutions, exclusive editorial content, and full-service studio production—delivering unparalleled resources to fuel great work.

Discover our impact at www.shutterstock.com and connect with us on LinkedIn, Instagram, X, Facebook and YouTube.

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SOURCE Shutterstock, Inc.

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