FOUR SGX-listed firms have guided for expected losses for the six months ended June: Atlantic Navigation, Ntegrator International, Seroja Investments and Luzhou Bio-Chem Technology.
Catalist-listed Atlantic Navigation expects to record a loss in both Q2 and H1, reversing profits from a year ago. This is mainly due to an impairment on certain vessels which are currently not on long-term charters. Although the overall utilisation of the firm’s vessels is expected to be sustained at above 85 per cent for Q2, uncertainties from the adverse macro-economic environment and the Covid-19 pandemic may impact on utilisation and near-term earnings of these vessels, it said.
Nevertheless, Atlantic Navigation still expects to generate positive-adjusted Ebitda and net cash flows from operations in both Q2 and H1. Communications-network specialist Ntegrator expects a loss in H1 due to a significant revenue decline in Q2. Its operations were hit by the Covid-19 circuit-breaker measures; the firm was unable to reduce fixed costs while income rapidly fell.
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