The Swedish shipowning group Transatlantic intends to grow
The Swedish shipowning group Transatlantic’s strategy for the coming years is to grow organically, through acquisitions and partnerships, but without jeopardising its financial targets being a return on shareholder’s equity of not least 12 per cent and a solvency not lower than 30 per cent. Currently those targets have been passed considerably. In 2006, the return on equity reached 17 per cent and it has continued to increase to 22.4 per cent in the first quarter this year. In 2006, solvency reached 39.5 per cent and 40.4 per cent in the first quarter this year. For the first quarter, Transatlantic reports a 22 per cent increase in net revenues to SEK 623 million and a pre-tax result of SEK 66 million, up by SEK 52 million compared to Q1 2006. The offshore division reached SEK 96 million in net revenues and a profit margin of 66.7 per cent.