Company Information

  

Address: APT. D11, LES ACANTHES
6, AVENUE DES CITRONNIERS 
City: MONACO 
State:  
Zip Code: MC98000 
Telephone: 011-30-2-111-888-400 

Description of Business

Primary SIC Code: 4412
(As filed with the SEC)  

Safe Bulkers, Inc. was incorporated in the Republic of the Marshall Islands on December 11, 2007, under the BCA, for the purpose of acquiring ownership of various subsidiaries that either owned or were scheduled to own vessels. We are controlled by the Hajioannou family, which has a long history of operating and investing in the international shipping industry, including a long history of vessel ownership. Vassos Hajioannou, the late father of Polys Hajioannou, our chief executive officer, first invested in shipping in 1958. Polys Hajioannou has been actively involved in the industry since 1987, when he joined the predecessor of Safety Management. Over the past 25 years under the leadership of Polys Hajioannou, we have sold 17 drybulk vessels during periods of what we viewed as favorable secondhand market conditions and have contracted to acquire 53 drybulk newbuilds and six drybulk secondhand vessels.  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
06/20190.13NA12.00
12/20180.16NA11.12
06/2018-0.81NAN/E
12/2017-0.98NAN/E
09/2017-0.19NAN/E
06/2017-1.10NAN/E
12/2016-0.83NAN/E
09/2016-0.34NAN/E

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2018 Leverage 2018
Net Inc/Comm Equity0.08Total Liab/Total Assets0.55
Net Inc/Total Assets0.03Total Liab/Inv Cap0.60
Net Inc/Inv Cap0.03Total Liab/Comm Equity1.67
Pretax Inc/Net Sales0.14Interest Coverage Ratio2.08
Net Inc/Net Sales0.14Curr Debt/Equity0.08
Cash Flow/Net Sales0.44LTD/Equity1.16
SG&A/NetSales0.46Total Debt/Equity1.23
Asset Utilization   Liquidity  
Net Receivables Turnover15.29Quick Ratio1.78
Inventory TurnoverNACurrent Ratio1.85
Inventory Day SalesNANet Rec/Curr Assets0.12
Net Sales/Work Cap4.14Inv/Curr Assets0.04
Net Sales/PP&E0.20  

Income Statement (Millions)

  12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Revenues(Net Sales) 193.19 148.03 109.77 127.32
Cost of Goods Sold NA NA NA NA
Selling & Admin Exps 89.24 74.62 74.54 87.94
Operating Income 55.89 -69.30 -31.41 -32.02
Interest Exp 25.71 23.22 19.58 11.65
Pretax Income 27.68 -84.68 -55.97 -47.94
Other Income -2.49 7.85 -4.98 -4.28
Net Income Bef Extraordinary ... NA NA NA NA
Net Income 27.68 -84.68 -55.97 -47.94

Balance Sheet (Millions)

Assets 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Cash & Short Term Investments 82.08 60.14 94.81 196.75
Receivables - Total 12.22 13.06 9.00 7.57
Inventories - Total 4.14 4.23 5.17 5.17
Total Current Assets 101.26 79.09 111.01 243.16
Net Property, Plant & Equipment 963.89 946.53 1,051.73 1,056.52
Total Assets 1,076.20 1,035.10 1,173.75 1,309.63
Liabilities        
Accounts Payable 13.01 7.80 9.55 9.26
Debt in Current Liabilities 36.19 25.59 12.19 77.79
Total Current Liabilities 54.61 36.93 23.78 105.73
Long-Term Debt 538.51 541.82 569.94 569.76
Total Liabilities 593.37 578.75 595.22 675.49
Stockholder's Equity        
Minority Interest NA NA NA NA
Preferred Stock 0.06 0.06 0.07 0.07
Common Stock 0.10 0.10 0.10 0.08
Retained Earnings 111.28 95.11 194.25 264.26
Treasury Stock -0.74 -0.12 -0.12 0.00
Total Stockholders' Equity 465.83 456.35 578.54 634.15
Total Liabilities and Stockholders' Equity 1,059.20 1,035.10 1,173.75 1,309.63

Cash Flow Summary (Millions)

Categories 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Cash Provided by Operating Activities 85.45 50.10 13.48 25.52
Net Cash Provided by Investing Activities -63.67 -39.59 -39.87 -125.04
Net Cash Provided by Financing Activities -15.58 -47.06 -83.88 180.09

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/2014154.0914.630.10
12/2015127.32-47.94-0.74
12/2016109.77-55.97-0.83
12/2017148.03-84.68-0.98
12/2018193.1927.680.16
Growth Rates5.82----

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional06/30/197615,90515.71




Report Date : 9/10/2019

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