BWEK - Preliminary financial information for fourth quarter and full year 2022

22 Feb 2023 06:59 CET

OSLO / SINGAPORE, 22 February 2023 – BW Epic Kosan Ltd. (ticker ‘BWEK’, ‘BW Epic
Kosan’ or the ‘Company’) today announced its unaudited financial and operating
results for the fourth quarter and full year ended 31 December 2022. All amounts
reported in US Dollars unless otherwise stated.

Q4 and full year 2022 highlights:

• Q4 2022 Net profit of $0.2 million, FY 2022 $21.4 million.
• EBITDA of $26.7 million, FY 2022 $118.2 million.
• ROE 0.2%, FY2022 4.5% / ROCE 1.8%, FY2022 4.4 %.
• Cash of $78.5 million.
• Cash dividend $0.03875 per share payable in March, FY 2022 $0.067 per share.

Charles Maltby, Chief Executive Officer of BW Epic Kosan, commented:

"The fourth quarter saw strong utilisation of over 95%, rounding off a stronger
year overall. Our improved annual results were driven by a tighter market and
our increasing average vessel size. Combined with effectively managed operating
costs, we delivered a full year net profit of $21.4 million, up 78% year on
year, although there is still work to do on improving returns. We are pleased to
report a healthy cash flow, and a further dividend."

Conference call and slide presentation

A live Zoom meeting to discuss these results is scheduled for 22 February 2023
at 08:00 AM (New York) / 02:00PM (Oslo) / 09:00PM (Singapore).

A slide presentation will be shared during the Zoom meeting and will be
accessible on the Investor Relation page of the Company’s website.

Please register in advance for this webinar via the following link:

https://us06web.zoom.us/webinar/register/WN_Jc9TQsfERSqqouEENqn5IQ

After registering, you will receive a confirmation email containing information
about joining the webinar.

A replay will be available shortly after the conclusion of the live event on the
Investor Relations page of the Company’s website.

Please refer to the attached earnings release and presentation for further
details.

BW Epic Kosan Ltd.
www.bwek.com
ir@bwek.com

More information:
Access the news on Oslo Bors NewsWeb site

583153_BW Epic Kosan Q4 2022 Earnings Release_F.pdf
583153_BW Epic Kosan Q4 2022 Presentation_F.pdf