BUZZ-Exmar: Hits 3-yr low as FY earnings underwhelm

Tue Mar 29, 2016 3:19am EDT
 
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** Shares of Belgian gas shipping group fall c. 9 pct after final FY results worse than provisional results

** FY EBITDA amounted to a loss of $23.8 million, well below the provisional loss of $7.6 million announced in Jan.

** Exmar cuts its gross dividend to EUR 0.30/share (2015 dividend: EUR 0.50/share)

** Earnings hit by halted LNG project in Canada and the early termination of a liquefaction and storage agreement wit PEP

** Stock set for worst performance in 1 yr; top faller on the Euronext Next 150 index