Safello Group AB Q1 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

Financial Highlights (Q1 2025 vs Q4 2024)
  • Total Revenues: $193 million (Down from $229 million in Q4 2024)
  • Adjusted EBITDA: $116 million (Down from $132 million in Q4 2024)
  • Net Income: Net loss of $31.9 million or -$0.24 per share (Compared to net profit of $20.2 million or $0.15 per share in Q4 2024)
  • Dividend Declared: $0.27 per share, representing the 85th consecutive quarterly dividend. Yield is approximately 13% based on recent share price.
  • Share Buybacks: $10 million worth of shares repurchased below $8/share during market softness.
  • Total Charter Backlog: $4.2 billion, with over two-thirds from investment-grade customers.
  • Cash & Equivalents: $174 million at quarter-end, plus $48 million in undrawn credit facilities.
  • Equity Ratio: Approx. 36%
Fleet & Operational Performance
  • Total Assets: 79 maritime assets including vessels, rigs, and contracted newbuilds.
  • Utilization (Shipping Fleet only): 99.8% (Adjusted), 98.6% unadjusted.
  • Rig Utilization: 97.2% overall (dragged by idle Hercules rig)
  • Fleet Composition:
    • 15 Dry Bulk Vessels

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Operator: [Abrupt Start] Investor relations In SFL. Our CEO, Ole Hjertaker will start the call with an overview of the first quarter highlights, and then our Chief Operating Officer, Trym Sjølie will comment on Vessel performance matters, followed by our CFO Aksel Olesen, who will take us through the financials. The conference call would be concluded by opening up for questions, and I will explain the procedure to do so prior to the Q&A session. Before we begin our presentation. I would like to note that this conference call will contain forward looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995. Words such as expects, anticipates, intents, estimates or similar expressions are intended to identify these forward looking statements. Please note that forward looking statements are not guarantees of future performance. These statements are based on our current plans and expectations and are inherently subject to risks and uncertainties that could cause future activities and results of operations to be materially different from those set forth in the forward looking statements. Important factors that could cause actual resources to differ include, but are not limited to conditions in the shipping offshore credit markets. You should therefore not place undue reliance on these forward looking statements. Please refer to our filings within the Securities and Exchange Commission for more detailed discussion of risks and uncertainties which

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