Company Quick10K Filing
Euroseas
20-F 2019-12-31 Filed 2020-04-30
20-F 2018-12-31 Filed 2019-04-25
20-F 2017-12-31 Filed 2018-04-30
20-F 2016-12-31 Filed 2017-04-07
20-F 2015-12-31 Filed 2016-05-02
20-F 2014-12-31 Filed 2015-04-30
20-F 2013-12-31 Filed 2014-04-30
20-F 2012-12-31 Filed 2013-04-30
20-F 2011-12-31 Filed 2012-04-27
20-F 2010-12-31 Filed 2011-05-27
20-F 2009-12-31 Filed 2010-05-28

Euroseas Financials

ESEA Metrics, Comps, Filings

Quarterly | Annual

Business

Euroseas Ltd. is a Marshall Islands company incorporated under the BCA on May 5, 2005. We are a provider of worldwide ocean-going transportation services. On May 30, 2018, the Company spun-off its drybulk fleet (excluding M/V Monica P, a handymax drybulk carrier, which was agreed to be sold at the time) into EuroDry Ltd., a separate publicly listed company also listed on Nasdaq Capital Market. Shareholders of the Company received one EuroDry Ltd. share for every five shares of the Company they held. As a result of the spin-off and the subsequent sale of M/V Monica P, the Company has become a pure containership company and the only publicly listed company concentrating on the feeder containership sector. Our containerships transport dry and refrigerated containerized cargoes, mainly including manufactured products and perishables. As of April 1, 2019, our fleet consisted of eleven containerships. The total cargo carrying capacity of the eleven containerships is 388,632 dwt or 25,483 teu. Two of our vessels were acquired before January 1, 2004 and were controlled by the Pittas family interests. On June 29, 2005, the shareholders of the two vessels (and of five additional vessels that have since been sold) transferred their ownership in each of the vessels to Euroseas in exchange for shares in Friends, a 100% owner of Euroseas at that time. Since June 2005, the Company has purchased twenty-eight vessels and ordered four newbuildings. Euroseas took delivery of three of the newbuildings in February 2016, January 2017 and May 2018, respectively, while one newbuilding vessel contract was cancelled. The Company sold fifteen vessels and spun-off six of its vessels into EuroDry in 2018.

Our common shares traded under the symbol ESEA on the Nasdaq Global Market beginning January 31, 2007 and on the Nasdaq Global Select Market beginning January 1, 2008, and since June 26, 2015 have traded on the Nasdaq Capital Market.

Our executive offices are located at 4 Messogiou & Evropis Street, 151 24, Maroussi, Greece. Our telephone number is +30-211-1804005.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Pyxis Tankers (PXS) 22,324 0% 116,617 76,674 0 0 0 0 81,542
Top Ships (TOPS) 19,565 0% 258,488 154,207 0 0 0 0 164,251
Globus Maritime (GLBS) 9,692 0% 86,674 45,624 0 0 0 0 8,296
Diana Containerships (DCIX) 9,401 0% 100,086 4,510 0 0 0 0 -1,092
Euroseas (ESEA) 8,135 0% 66,955 44,377 0 0 0 0 32,415
Navios Maritime Holdings (NM) 3,468 0% 2,682,496 2,160,816 0 0 0 0 1,696,606
Nordic American Offshore (NAO) 3,212 0% 191,074 137,009 0 0 0 0 127,223
Seanergy Maritime (SHIP) 1,386 0% 267,562 246,259 0 0 0 0 192,549
Hermitage Offshore Services (PSV)
FLEX LNG (FLNG)
Carnival (CUK)
Scorpio Tankers (SBNA)
EuroDry (EDRY) 0% 127,708 65,412 0 0 0 0 56,130
TORM (TRMD) 0% 1,714,400 867,189 0 0 0 0 -127,000
Grindrod Shipping Holdings (GRIN) 0% 447,627 0 0 0 0 -11,627
Global Ship Lease (GSL) 0% 1,233,487 917,125 0 0 0 0 799,104
Dynagas LNG Partners (DLNG) 0% 1,063,436 736,951 0 0 0 0 612,883
Hoegh LNG Partners (HMLP) 0% 1,023,040 502,603 0 0 0 0 394,790
Castor Maritime (CTRM) 0% -4.2 3% 10,184 433 1,111 0 276 454 -1,887
Navios Maritime Partners (NMM) 0% 1,314,133 537,380 0 0 0 0 457,596

Balance Sheet ($'000)2013-12-312014-12-312015-12-312016-12-312018-12-31
Cash11,40025,41110,4676,14013,212
Accounts Receivable1,8792,1901,4081,432959
Inventory1,4741,7591,4651,2911,704
PP&E137,960140,390124,748105,58548,826
Assets156,616190,579172,407143,69466,955
Accounts Payable2,3372,3702,289
Long-Term Debt45,64454,90040,52152,35737,491
Liabilities51,91459,93645,27955,78244,377
Stockholders' Equity104,702100,20395,04954,1073,821
Income Statement ($'000)2013-12-312014-12-312015-12-312016-12-312018-12-31
Revenue
Cost of Revenue
Gross Profit
R&D
SG&A
Tax
Net Income
Cash Flow ($'000)2013-12-312014-12-312015-12-312016-12-312018-12-31
Cash Operating
Cash Investing
Cash Financing