Financial strength
The group’s financial strength is built on a healthy mix of relatively stable income comprising limited spot business, more extensive time-charter activities, lightering operations and contracts of affreightment (COAs). This allows earnings to be smoothed across tanker cycles. Last year (to 31 March 2009) the AET financial statements show assets of more than US$2.6 billion, a group turnover in excess of US$1.2 billion and a net profit for the year of more than US$280 million.
As a private company AET publishes limited financial information in an annual review and a copy (2.72 MB) is available to download from here. A hard copy of the latest review is available, on request, by contacting the corporate communications team in London.
For prior years' reports, download from here (2007, 2008).
''This year we have invested heavily in company-wide systems and processes to increase our efficiency, raise the levels of customer service and provide scalability. New systems already implemented or in various stages of development include a new global platform for our chartering and operations teams, as well as systems to enhance our capabilities in crew management, finance and HR.''