Navios Maritime Acquisition Corporation Reports Financial Results for the Second Quarter and Six Mon
- Revenue ° 91.6% increase in Q2 2020 revenue to $112.2 million° 54.8% increase in H1 2020 revenue to $210.1 million
- Net Cash from Operating Activities° $50.7 million in H1 2020$° 20.2 million in Q2 2020
- Adjusted EBITDA° 228.8% increase in Q2 2020 Adjusted EBITDA to $72.7 million° 103.5% increase in H1 2020 Adjusted EBITDA to $129.0 million
- Liquidation of Navios Europe II Inc.° $37.7 million receivables transformed into cash and steel value
- $92.9 million refinancing for six product tankers° Maturities extended through 2027
- Fleet Renewal:° Option for 4th VLCC newbuilding under bareboat charter exercised in Q2 2020
- Returning capital to stockholders:° Quarterly dividend: $0.30 per share
MONACO, July 30, 2020 (GLOBE NEWSWIRE) -- Navios Maritime Acquisition Corporation (Navios Acquisition) (NYSE: NNA), an owner and operator of tanker vessels, reported its financial results today for the second quarter and six months ended June 30, 2020.
Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, I am pleased with our results for the second quarter of 2020. During the quarter, Navios Acquisition recorded revenue of $112.2 million, adjusted EBITDA of $72.7 million and adjusted net income of $32.4 million, or $2.03 per share. Our chartering strategy focuses on capturing upside and we earned $20.7 million in profit sharing in the second quarter of 2020. We also declared a quarterly distribution of $0.30 cents per share for the second qua....