Tue 21 Oct 2014 06:48

OW Bunker to hold Q3 earnings call on October 23


Bunker firm said earlier this month that it would be posting an unrealized accounting loss of around $22 million for the third quarter of 2014.



OW Bunker, one of the world's leading physical suppliers and resellers of marine fuels and lubricants, has announced that it will be hosting an earnings call this week following the release of its third quarter interim results on Thursday October 23. The report is expected to be published before 09:00 am CET.

Investors and analysts are invited to participate in a conference call on October 23, 2014 at 10:00 am CET. An accompanying presentation is due to be made available ahead of the call from the downloads section at investor.owbunker.com.

Dial-in details are:

Denmark: +45 3272 8018

UK (international): +44 (0) 1452 555131

US (free dial-in): +1 866 682 8490

A webcast of the conference call will be available during and after the event at investor.owbunker.com.

Earlier this month, OW Bunker announced that it would be posting an unrealized accounting loss of around USD 22 million for the third quarter of 2014 as a result of the effect of sliding oil prices on its risk management policy. The bunker firm said it also expects its full-year result to be around 20 percent lower than in 2013.

"The recent slide in the oil price, in particular during September, is outside the range expected and OW Bunker will as a consequence of its risk management policy report an unrealized accounting loss before tax of approx. USD 22 million in Q3 2014. This is based on a mark to market valuation of OW Bunker's derivative contracts as at end September 2014 and includes a substantial element of protection taken up against further falls in the oil price. A higher oil price at the end of the year will reduce the unrealized loss," the company said in a statement on October 8.

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