Oslo, 15 December 2022: Gram Car Carriers ASA ("GCC") is pleased to announce the
successful transfer to the Oslo Børs main market with its shares continuing to
trade under the ticker "GCC".
"Today's listing on Oslo Børs is an important milestone for GCC as we execute on
our strategy as a leading owner of modern car carriers. We started trading on
Euronext Growth in January 2022, positioned to capture a historically strong
market and a plan to re-charter our fleet at higher rates, pay dividends and
uplist to Oslo Børs during the year. Since then, we have built a record revenue
backlog with long contract durations, delivered strong earnings growth, and
distributed capital to shareholders in three consecutive quarters in line with
policy," said Georg A. Whist, the CEO of GCC.
Gram Car Carriers ASA was admitted to trading on Euronext Growth Oslo on 31
January 2022 following a private placement raising USD 121 million in gross
proceeds, the completion of asset transactions with the former Singapore
corporate structure and F. Laeisz, and a refinancing of corporate debt and lease
facilities. At that time, the company had a market capitalisation of
approximately USD 171 million.
In the first nine months of 2022, GCC has reported USD 82.7 million of revenue
and EBITDA of USD 47.6 million while distributing an accumulated of USD 0.239
per share of equity capital, equal to 50% of net profit on a quarterly basis.
The revenue backlog at end September amounted to USD 563 million with USD 261
million of additional new contracts signed to date in the fourth quarter. An
additional USD 67 million of backlog accompanies the purchase of the car carrier
Paglia completed in the quarter. As of market closing on 14 December the
company's a market capitalisation was USD 458 million.
For further information, please contact:
CEO Georg A. Whist
Telephone: +47 41 60 16 81
IR Mas Gram
Telephone +47 95 41 00 93
About Gram Car Carriers:
GCC is the world's third-largest tonnage provider within the Pure Car Truck
Carriers (PCTCs) segment with 19 vessels, across the Distribution, Mid-size and
Panamax segments. The Company serves as a trusted provider of high-quality
vessels and logistics solutions ensuring safe, efficient and punctual shipment
of vehicles for a network of clients comprising of major global and regional