SOURCE: Euronav

March 22, 2007 14:04 ET

EURONAV NV announces dividend increase and final results 2006

ANTWERP, BELGIUM -- (MARKET WIRE) -- March 22, 2007 --



During its meeting of 22 March 2007, Euronav's (EURONEXT: EURN) board of directors discussed the final consolidated financial statements for the period ended 31 December 2006.


+-------------------------------------------------------------------+
| The most important    |       |                    |              |
| key figures are:      |       |                    |              |
|-----------------------+-------+--------------------+--------------|
| in thousands of USD   |       | total as per       | total as per |
|                       |       | 31-Dec-2006        | 31-Dec-2005  |
|-----------------------+-------+--------------------+--------------|
|                       |       |                    |              |
|-----------------------+-------+--------------------+--------------|
| turnover              |       |            688 855 |      587 511 |
|-----------------------+-------+--------------------+--------------|
| EBITDA                |       |            431 965 |      372 383 |
|-----------------------+-------+--------------------+--------------|
| depreciation          |       |           -143 458 |     -116 868 |
|-----------------------+-------+--------------------+--------------|
| EBIT (operating       |       |            288 507 |      255 515 |
| result)               |       |                    |              |
|-----------------------+-------+--------------------+--------------|
| financial result      |       |            -69 205 |      -45 175 |
|-----------------------+-------+--------------------+--------------|
| result before         |       |            219 302 |      210 340 |
| taxation              |       |                    |              |
|-----------------------+-------+--------------------+--------------|
| current tax           |       |             -1 421 |       -1 881 |
|-----------------------+-------+--------------------+--------------|
| deferred tax          |       |                    |          961 |
|                       |       | 161                |              |
|-----------------------+-------+--------------------+--------------|
| result after taxation |       |            218 042 |      209 420 |
|-----------------------+-------+--------------------+--------------|
|                       | third |                    |              |
| of which:             | party |                  0 |            0 |
|                       | share |                    |              |
|-----------------------+-------+--------------------+--------------|
|                       | group |            218 042 |      209 420 |
|                       | share |                    |              |
+-------------------------------------------------------------------+




+-------------------------------------------------------+
| Information per share:  |              |              |
|-------------------------+--------------+--------------|
|                         | total as per | total as per |
| in USD per share        |  31-Dec-2006 |  31-Dec-2005 |
|-------------------------+--------------+--------------|
|                         |              |              |
|-------------------------+--------------+--------------|
| number of shares        |   52 518 862 |   52 518 862 |
|-------------------------+--------------+--------------|
| EBITDA                  |         8,22 |         7,09 |
|-------------------------+--------------+--------------|
| EBIT (operating result) |         5,49 |         4,87 |
|-------------------------+--------------+--------------|
| result after taxation   |         4,15 |         3,99 |
|-------------------------+--------------+--------------|
|                         | total as per | total as per |
| in EUR per share        |  31-Dec-2006 |  31-Dec-2005 |
|-------------------------+--------------+--------------|
|                         |              |              |
|-------------------------+--------------+--------------|
| rate of exchange        |       1,3170 |       1,1797 |
|-------------------------+--------------+--------------|
| EBITDA                  |         6,25 |         6,01 |
|-------------------------+--------------+--------------|
| EBIT (operating result) |         4,17 |         4,12 |
|-------------------------+--------------+--------------|
| result after taxation   |         3,15 |         3,38 |
+-------------------------------------------------------+


All figures have been prepared under IFRS (International Financial Reporting Standards)

The joint statutory auditors have confirmed that their audit work, which has substantially been completed, did not reveal any significant changes to be made to the financial information included in the press release.

2006 has been another significant year in Euronav's development. While the net earnings surpassed those of 2005, the company continued to reinvest in growth with a total of six newbuilding contracts placed with Korean shipbuilders. This will ensure that Euronav continues to operate one of the youngest fleet in the industry and by doing so guarantees its customers of its commitment to constant improvement in quality of performance, and safer, cleaner, and even more reliable transportation of crude oil.

The board of directors will propose to the annual general meeting of shareholders of Tuesday 24 April 2007, a total gross dividend for the financial year 2006 of EUR 1.68 per share. This is a 5% increase compared to the gross dividend paid for the financial year 2005.

                                  *
                                 * *
Annual report 2006 available on Website: 29 March 2007

Annual General Meeting: Tuesday, 24 April 2007

Euronav is one of the world's leading independent tanker companies engaged in the ocean transportation of crude oil and petroleum products. The Company's modern fleet consists of interests in 26 very large crude carriers (VLCC) and ultra large crude carriers (ULCC), of which 10 vessels are chartered in from third parties either directly or jointly with partners. 21 VLCCs and 2 ULCCs are managed in the Tankers International pool of which Euronav is one of the major partners. Euronav owns and also operates 14 Suezmaxes and 2 Aframaxes. Euronav also has now a further 4 Suezmaxes and 2 VLCCs under construction.




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Contact Information

  • Contact:
    Mr. Paddy Rodgers
    CEO
    Belgica House
    De Gerlachekaai 20
    BE 2000 Antwerpen 1
    Tel: +32 3 247 44 11