By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
OOLP Maritime World NewsOOLP Maritime World News
  • Home
  • Maritime News
    • Top stories
    • Global Maritime
    • International Shipping
    • Cruise
    • Ports
    • Security & Piracy
  • Live Marine Traffic
  • Events
  • Company
    • About OOLP
    • Contact us
  • Blog
Reading: TOP Ships Announces Record Net Income of $18.9 Million for the Year Ended December 31, 2022, 120% Increase From 2021
Share
Notification Show More
Aa
OOLP Maritime World NewsOOLP Maritime World News
Aa
Search
  • Home
  • Maritime News
    • Top stories
    • Global Maritime
    • International Shipping
    • Cruise
    • Ports
    • Security & Piracy
  • Live Marine Traffic
  • Events
  • Company
    • About OOLP
    • Contact us
  • Blog
Follow US
© 2022 - All Rights Reserved. OOLP News.
OOLP Maritime World News > Shipping news > TOP Ships Announces Record Net Income of $18.9 Million for the Year Ended December 31, 2022, 120% Increase From 2021
Shipping news

TOP Ships Announces Record Net Income of $18.9 Million for the Year Ended December 31, 2022, 120% Increase From 2021

Last updated: 2023/03/03 at 10:55 AM
126 Views
Share
3 Min Read
SHARE


TOP Ships Inc., an international owner and operator of modern, fuel efficient “ECO” tanker vessels, announced today its unaudited financial results for the year ended December 31, 2022.

As of and for the year ended December 31, 2022, the Company reported:

Total revenues of $80.7 million (43% increase from the year ended December 31, 2021)

- Promotional Ads -

Net Income of $18.9 million (120% increase from the year ended December 31, 2021)

EBITDA* of $46.6 million (100% increase from the year ended December 31, 2021)

Total Assets of $469.3 million (42% increase from December 31, 2021)

Total Cash and cash equivalents including Restricted Cash of $24.5 million (285% increase from December 31, 2021)

In addition, the Company announced that for the period commencing from the date of this release to December 31, 2023:

  • it will not conduct any new equity offerings, public or private;
  • it will not conduct any reverse stock splits, except to the extent its Board of Directors deems advisable for the sole purpose of remaining compliant with Nasdaq continued listing requirements;
  • it will not pay any bonuses to its executive management; and
  • neither the CEO nor his affiliates will sell any common shares.

The Company believes that the above actions will significantly enhance the trading stability of its common shares during 2023.

Mr. Evangelos J. Pistiolis, the President, Chief Executive Officer and Director of the Company, said:

“We are very happy to report record net income for the year ended December 31, 2022, which is the highest reported net income since 2008 and 120% higher than the same period in 2021. I believe that the current trading price of our common shares does not reflect the intrinsic value of the Company, and that the actions we have announced today will benefit all shareholders.”
Source: TOP Ships



You Might Also Like

Asia Fuel Oil-HSFO markets soften, VLSFO steady

US imposes fresh sanctions over shipment of Russian oil above price cap

ABS Supports Edison Chouest’s Decarbonization Journey with Sustainability Reporting

Shipping CEOs join forces to accelerate the decarbonization of the global maritime transport

Grindrod Shipping Reports Third Quarter Revenues of $112.5 Million

admin March 3, 2023
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Copy Link Print
Previous Article VIKAND Strengthens Clinical Leadership Team 
Next Article Contecon Manzanillo, CMA CGM launch block train service
- Promotional Ads -

Latest News

The world seaborne trades as you’ve never seen them before
Global Maritime News December 2, 2023
Asia Fuel Oil-HSFO markets soften, VLSFO steady
Shipping news December 2, 2023
Carnival Cruise Line Rolling Out Changes to Debarkation and to WiFi Pricing
Cruise December 2, 2023
Angad Banga becomes chair of the Asian Shipowners’ Association
Global Maritime News December 2, 2023

OOLP maritime news is a portal that gets latest updates and happenings from the maritime & cruise industry across the globe.

Top maritime stories

Global maritime news

International shipping news

Cruise news

Maritime ports

Security and piracy

About OOLP news

Contact us

Live maritime traffic

Events

Blog

Follow US
© 2023 - All Rights Reserved. OOLP News.
  • Cookie Policy
  • Terms & Conditions
  • Disclaimer
  • Privacy Policy
Welcome Back!

Sign in to your account

Lost your password?