Exmar half year results on 30th June 2007

The board of directors of EXMAR NV has drawn up the accounts for the period ending 30th June 2007. This press release also refers to the one distributed on 26 July 2007 (provisional results).

OUTLOOK SECOND SEMESTER
Results in the LPG-division for the second semester of 2007 could be affected by increased idle time in the Midsize segment during the summer months. The outlook for VLGC seems however more encouraging on the basis of strong increase in activity since August.
All the LNG vessels are covered on long-term contract and results for the second semester should therefore be consistent with the first semester; the off-hire of EXCALIBUR due to the planned dry-docking will however affect the results.

In the Offshore and the Services divisions the results are expected to be in line with the results of the first semester.
Report of the Joint Statutory Auditors on the review of the consolidated condensed interim financial
information as of 30 June 2007 of Exmar NV

Introduction
We have reviewed the accompanying consolidated condensed balance sheet of Exmar NV (“the Company”) as at 30 June 2007, and the related consolidated condensed statements of income, changes in equity and cash flows for the six month period then ended (the interim financial information).
Management is responsible for the preparation and presentation of this consolidated interim financial information in accordance with IAS 34 “Interim Financial Reporting”. Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of Review
We conducted our review in accordance with the International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim financial information as at 30 June 2007 is not prepared, in all material respects, in accordance with IAS 34 “Interim Financial Reporting”.

FOR FULL PRESS RELEASE PLEASE GO TO EXMAR CORPORATE WEBSITE: www.exmar.be

Exmar NV
De Gerlachekaai 20
B-2000 Antwerpen

impcomms@yahoo.co.uk

Ian Matheson

Exmar: EXMAR is a diversified and independent shipping group serving the international gas and oil industry. Apart from providing the ships for the transportation of these products, it also performs studies and undertakes the management of commercial, technical and administrative activities for the industry.

This release was published on openPR.