Originally Posted by
Andy
The numbers don't make sense - the report shows a yield (.44) nearly identical to their unit cost (.43). That should have resulted in a near zero profit before one time gains/losses.
I'd have to comb over the quarterly report to find how they were able to pull a NOK 1.6B profit out of breakeven numbers.
Compare this Q's numbers to Q2's yield (.37) and unit cost (.41) which resulted in a loss of NOK 155M before one time gains.
You're forgetting ancillary revenue?
Check out the Principal repayments. Looks like they're not paying back their debt, just the interest?