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Hurtigruten is among the companies in the tourism industry that have struggled during the corona period. The accounts for the first quarter, which came this afternoon, showed a fall in free fall and large deficits.
Hurtigruten had a negative equity at the turn of the year of 102.2 million euros, but after a loss in the first quarter, the negative equity has increased to NOK 157.1 million, approximately NOK 1.6 billion.
The board writes in the quarterly report that it considers the values of ships and brands to be higher than the book values, so that real equity is not so low. In addition, society is opened up and people are vaccinated, so that booking and sales revenues, and thus the result is expected to increase in the time ahead. Therefore, the board sees no reason to take measures to increase equity.
But the shipping company has had to get help from the banks. A requirement in the loan agreement of a minimum of 25 million euros in cash has been reduced to 15 million euros temporarily, so that the company will have a little more leverage when the activity takes up during the spring and summer.
Cash and cash equivalents were 62 million euros at the end of the quarter, halving last year. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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