ACE SHIPPING A/S — Credit Rating and Financial Key Figures
Credit rating
Company information
About ACE SHIPPING A/S
ACE SHIPPING A/S (CVR number: 33393393) is a company from GENTOFTE. The company reported a net sales of 18.4 mUSD in 2023, demonstrating a decline of -33.7 % compared to the previous year. The operating profit percentage was at 0.1 % (EBIT: 0 mUSD), while net earnings were 196.4 kUSD. The profitability of the company measured by Return on Assets (ROA) was 3.7 %, which can be considered weak and Return on Equity (ROE) was 3.8 %, which can be considered weak. The equity ratio, a key indicator for solidity, stood at 74.1 %, a level that can be considered to be good. This shows that a large part of the company's assets are funded by shareholders' equity, reducing financial risk. ACE SHIPPING A/S's liquidity measured by quick ratio was 3.6 which is at a very high level. Thus, the company demonstrates exceptional financial stability, possessing a significant surplus of liquid assets over its short-term liabilities.
Financial information
See financialsNet sales (kUSD)
EBIT (kUSD)
Profitability
Solidity
Key figures (kUSD)
See financials2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Volume | |||||
Net sales | 15 433.08 | 19 398.41 | 29 055.20 | 27 690.75 | 18 364.32 |
Gross profit | 653.08 | -41.92 | 5 132.52 | 2 687.42 | 509.81 |
EBIT | 332.93 | - 328.39 | 4 453.59 | 1 924.59 | 25.60 |
Net earnings | 272.49 | - 339.66 | 3 539.07 | 1 616.98 | 196.37 |
Shareholders equity total | 1 932.88 | 1 593.22 | 5 132.29 | 5 749.27 | 4 695.64 |
Balance sheet total (assets) | 3 042.88 | 4 105.42 | 6 476.89 | 7 790.16 | 6 339.02 |
Net debt | -1 966.47 | -2 607.26 | -5 853.89 | -6 523.08 | -4 805.63 |
Profitability | |||||
EBIT-% | 2.2 % | -1.7 % | 15.3 % | 7.0 % | 0.1 % |
ROA | 13.7 % | -9.1 % | 84.2 % | 28.6 % | 3.7 % |
ROE | 15.2 % | -19.3 % | 105.2 % | 29.7 % | 3.8 % |
ROI | 20.1 % | -18.4 % | 132.5 % | 37.5 % | 5.0 % |
Economic value added (EVA) | 244.03 | - 306.32 | 3 622.49 | 1 576.25 | 58.83 |
Solvency | |||||
Equity ratio | 63.5 % | 38.8 % | 79.2 % | 73.8 % | 74.1 % |
Gearing | |||||
Relative net indebtedness % | -5.5 % | -0.5 % | -15.5 % | -16.2 % | -17.2 % |
Liquidity | |||||
Quick ratio | 2.2 | 1.3 | 4.7 | 3.7 | 3.6 |
Current ratio | 2.7 | 1.6 | 4.8 | 3.8 | 3.9 |
Cash and cash equivalents | 1 966.47 | 2 607.26 | 5 853.89 | 6 523.08 | 4 805.63 |
Capital use efficiency | |||||
Trade debtors turnover (days) | 6.1 | 3.1 | 0.6 | 11.1 | 14.2 |
Net working capital % | 12.5 % | 8.2 % | 17.7 % | 20.8 % | 25.6 % |
Credit risk | |||||
Credit rating | BBB | BB | BB | BBB | BBB |
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