Atlantic Navigation, Seroja, Luzhou Bio-Chem, Ntegrator expect H1 losses

FOUR SGX-listed firms have guided for expected losses for the six months ended June: Atlantic Navigation, Ntegrator International, Seroja Investments and Luzhou Bio-Chem Technology.

Catalist-listed Atlantic Navigation expects to record a loss in both Q2 and H1, reversing profits from a year ago. This is mainly due to an impairment on certain vessels which are currently not on long-term charters.

Although the overall utilisation of the firm's vessels is expected to be sustained at above 85 per cent for Q2, uncertainties from the adverse macro-economic environment and the Covid-19 pandemic may impact on utilisation and near-term earnings of these vessels, it said.

Nevertheless, Atlantic Navigation still expects to generate positive-adjusted Ebitda (earnings before interest, taxes, depreciation and amortisation) and net cash flows from operations in both Q2 and H1.

Communications-network specialist Ntegrator expects a loss in H1 due to a significant revenue decline in Q2. Its operations were hit by the Covid-19 circuit-breaker measures; the firm was unable to reduce fixed costs while income rapidly fell.

Seroja expects its H1 losses to stem from from discontinued operations; Luzhou Bio-Chem did not specify the reasons for the anticipated loss.

Shares of Atlantic Navigation and Ntegrator closed flat at S$0.036 and S$0.009 respectively on Wednesday. Seroja closed at S$0.079, down 3.66 per cent, and Luzhou closed unchanged at S$0.029.