Navios Maritime Acquisition Corporation Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2017

• $58.5 million for Q2 2017
• $122.9 million for the six months 2017

Adjusted EBITDA
• $27.1 million for Q2 2017
• $64.5 million for the six months 2017

Quarterly dividend of $0.05 per share – consistently paid since 2010

Monaco - Aug. 10, 2017

Navios Maritime Acquisition Corporation (“Navios Acquisition”) (NYSE:NNA), an owner and operator of tanker vessels, reported its financial results today for the second quarter and the six month period ended June 30, 2017.

Angeliki Frangou, Chairman and Chief Executive Officer of Navios Acquisition stated, “For the second quarter of 2017, we reported Revenue of $58.5 million and Adjusted EBITDA of $27.1 million. We also declared a dividend of $0.05 per share for the quarter, resulting in a dividend yield of about 14.0%.”

Angeliki Frangou continued, “The recent volatility in oil price and the continued uncertainty concerning commodity pricing have affected oil transportation. However, our chartering strategy of seeking long-term employment has insulated us somewhat. We have earned above-market charter rates when spot rates were contracting and period employment was unavailable. In the first six months of 2017, our average charter rate was estimated about 51% higher than the market average, translating into about $39.1 million of additional revenue.“


Dividend of $0.05 per share of common stock
On August 9, 2017, the Board of Directors of Navios Acquisition declared a quarterly cash dividend for the second quarter of 2017 of $0.05 per share of common stock. The dividend is payable on September 14, 2017 to stockholders of record as of September 7, 2017. The declaration and payment of any further dividends remain subject to the discretion of the Board of Directors and will depend on, among other things, Navios Acquisition’s cash requirements as measured by market opportunities and restrictions under its credit agreements and other debt obligations and such other factors as the Board of Directors may deem advisable.

Time charter coverage and commitments
Navios Acquisition currently owns 36 vessels, of which eight are VLCCs, 26 are product tankers and two are chemical tankers.

As of August 10, 2017, Navios Acquisition had contracted 94.0% of its available days on a charter-out basis for 2017, expecting to generate revenues of approximately $194.5 million. The average contractual net daily charter-out rate for the fleet is expected to be $17,660.

Full report

Navios Maritime Acquisition Corporation press release