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Gram Car Carriers transfers to Oslo Børs main market

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 PCTC operators.