Moby’s chief financial officer to resign before the approval of the interim report 

By 28 September 20172017 Newsletter week 39

After 10 years within Onorato Armatori Group, CFO Marco Bariletti decided ‘to follow a new professional path.’ In a release issued by the Luxemburg Stock Exchange, the company says the resignation shall be effective the day before the approval of the interim report on 30 September. Why Bariletti resigns is unknown.

Highlights from the 1H report:

  • Visentini ro-pax DIMONIOS was sold to Trasmediterranea with a €10 million capital gain. 
  • Two veteran ferries have been sold: MOBY BABY (June, €0.5m) and MOBY LOVE (September, €1.0m). Both were sold to Greek Portucalence Shipping Co. 
  • Number of crossings in the Med: 18,200 (+5% 1H 2016) 
  • Number of passengers in the Med: +1% (in total: 6.5 million pax) 
  • Number of transported lane meters: +13% (in total: 7.1m lane meters) 
  • The Group reported €238,8m revenues (+10%).  
  • EBITDA was €25.2m, thanks to the 2Q 2017 results which show a recovery in sales versus 2Q 2016 coupled with the capital gain on the DIMONIOS deal. 
  • Net Secured Debt reported is € 447.1m, with €219.2 m of cash and cash equivalents (versus €114.1m as of March 31st 2017). 

Photo: MOBY LOVE in Genoa ©Mike Louagie