Euronav NV Reports 2023 Full-Year Financial Results
Ticker: CMBT · Form: 6-K · Filed: Apr 4, 2024 · CIK: 1604481
| Field | Detail |
|---|---|
| Company | Euronav NV (CMBT) |
| Form Type | 6-K |
| Filed Date | Apr 4, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-results, sec-filing, form-6k
TL;DR
Euronav NV dropped its 2023 full-year results on April 4th, check the 6-K for the deets.
AI Summary
Euronav NV announced its full-year financial results for the period ending December 31, 2023, via a press release dated April 4, 2024. This report is filed as a Form 6-K with the SEC and incorporates the press release as Exhibit 99.1. The company is incorporated in Belgium and its principal executive offices are located in Antwerp.
Why It Matters
This filing provides investors with Euronav NV's official financial performance for the entire 2023 fiscal year, crucial for assessing the company's profitability and operational health.
Risk Assessment
Risk Level: low — This is a routine financial results filing (6-K) and does not contain new material events or significant strategic shifts.
Key Players & Entities
- Euronav NV (company) — Registrant
- April 4, 2024 (date) — Press Release Date
- December 31, 2023 (date) — Fiscal Year End
- 001-36810 (other) — SEC File Number
- 333-272785 (other) — Form F-3 File Number
FAQ
What is the purpose of this Form 6-K filing?
The purpose of this Form 6-K is to report Euronav NV's financial results for the full year ended December 31, 2023, by attaching a press release as Exhibit 99.1.
When was the press release announcing the financial results dated?
The press release announcing the financial results was dated April 4, 2024.
What fiscal period do the reported financial results cover?
The reported financial results cover the full year ended December 31, 2023.
Where are Euronav NV's principal executive offices located?
Euronav NV's principal executive offices are located at De Gerlachekaai 20, 2000 Antwerpen, Belgium.
Is Euronav NV required to file annual reports under Form 20-F or Form 40-F?
Euronav NV indicates it files annual reports under cover of Form 20-F.
Filing Stats: 4,589 words · 18 min read · ~15 pages · Grade level 10.7 · Accepted 2024-04-04 16:20:32
Filing Documents
- d11022085_6k.htm (6-K) — 470KB
- image00002.jpg (GRAPHIC) — 28KB
- 0000919574-24-002349.txt ( ) — 510KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. EURONAV NV (Registrant) Dated: April 4, 2024 By: /s/ Ludovic Saverys Ludovic Saverys Chief Financial Officer EXHIBIT 99.1 PRESS RELEASE Regulated Information Thursday 4 April 2024 – 08:00 a.m. CET _______________________________________ EURONAV ANNOUNCES FINAL YEAR RESULTS 2023 2023 HIGHLIGHTS New chapter for Euronav, new Management and Supervisory Board since November 2023 Further fleet optimisation with 5 VLCCs, 2 Bitumen tankers, 2 Suezmaxes and 2 Newcastlemaxes contracted in 2023 & Q1 2024 Acquisition CMB.TECH finalised in Q1 2024 Dividend of USD 4.57 per share to be proposed at annual shareholders' meeting ANTWERP, Belgium, 4 April 2024 – Euronav NV ( NYSE: EURN & Euronext: EURN ) ("Euronav" or the "Company") reported its final financial results today for the full year to 31 December 2023. The large crude tanker market continued to recover during 2023 from the structural and political factors that boosted earnings in the previous year. VLCC rates caught up with Suezmax rates in a year marked by a number of counter-seasonal increases in activity and earnings, reflecting the tight dynamics between vessel supply and crude demand. The structural dislocation caused by Russia's invasion of Ukraine in February 2022 has driven additional ton-miles, especially in smaller tanker segments (Aframax & Suezmax) and is embedded in market dynamics. The recovery in crude oil during the first half of 2023 contributed to two notable increases in freight rates and tanker activity in March/April and June. During both periods, freight rates rose to USD 60-80,000 per day on the back of an annual crude consumption growth of 2.2 million barrels per day to total 101.7 mb/d by 2023. The trend of limited recycling activity continues, again driven by ever-improving freigh
Forward-Looking Statements
Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbour protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbour provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbour legislation. The words "believe", "anticipate", "intends", "estimate", "forecast", "project", "plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. In addition to these important