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BWO Q2 2017 Presentation

EBITDA for the second quarter was USD 118.6 million, an increase of USD 56.6 million (USD 62.0 million). The increase in EBITDA was mainly as a result of reversal of loss provisions related to overdues being paid from Addax during second quarter. The underlying EBITDA excluding the one-off adjustment of loss provision was USD 73.1 million (USD 75.7 million). EBITDA decreased by USD 1.4 million to USD 180.6 million (USD 182.0 million) in the first-half year of 2017.