Safello Group AB Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

  • Dividend: Declared $0.20 per share for Q4 2021, an 11% increase from $0.18 in Q3 2021. Represents a dividend yield of approximately 9%.
  • Total Charter Revenues: $166 million for Q4 2021.
  • EBITDA Equivalent Cash Flow: $121 million, up 10% from $112 million in Q3 2021. FY EBITDA equivalent: ~$434 million.
  • Net Income: $80 million or $0.63 per share, includes $39 million gain from sale of vessels. Q3 2021 net income was not specified for comparison but implied to be lower.
  • Operating Costs: Increased by $1.1 million QoQ due to COVID-related crew rotation costs.
  • Fixed-rate Charter Backlog: Stands at $2.8 billion, excluding drilling rigs and short-term charter revenues.
  • Fleet Update:
    • 75 shipping assets; 8 trading in the short-term market.
    • Strategy to shift toward modern, fuel-efficient ships on long-term charters.
    • Sold 7 Handysize bulkers for ~$98 million, plus $15 million in trading earnings.
    • Acquired 4 modern LR2 product tankers chartered to Trafigura ($160 million in charter backlog).
    • Delivered 6 of 7 tankers chartered to Trafigura; one more due in Q1 2022.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Good day, and thank you for standing by. Welcome to the Q4 2021 SFL Corporation Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded. [Operator Instructions]. I would now like to hand the conference over to your speaker today, Ole Hjertaker. Please go ahead. Ole Hjertaker: Thank you, and welcome to SFL's fourth quarter conference call. I will start the call by briefly going through the highlights of the quarter. And following that, our CFO, Aksel Olesen, will take us through the financials, and the call will be concluded by opening up for questions. Before we begin our presentation, I would like to note that this conference call will contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as expects, anticipates, intends, estimates, or similar expressions are intended to identify these forward-looking statements. Forward-looking statements are not guarantees of future performance. These statements are based on our current clients 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 results to differ include

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional