Safello Group AB Q4 FY2022 Earnings Call
· Earnings call transcript and AI-powered summary
- Total charter revenues: $208 million, up 17% from Q3 2022.
- EBITDA equivalent cash flow: $135 million, up 7% from Q3 2022 ($126 million), totaling $504 million for the last 12 months.
- Net income: $48.5 million or $0.38 per share, in line with Q3.
- Dividend: Declared at $0.24 per share (up $0.01 from Q3), marking the 76th consecutive quarterly dividend. Dividend yield of 9.3% based on the last closing price.
- Fixed-rate charter backlog: $3.6 billion, providing robust cash flow visibility. Does not include short-term revenues or profit share upside.
- Profit share income: $7 million in Q4 ($6.5M from container/car carrier fuel savings + $0.4M from dry bulk profit sharing). $28 million for the past 12 months.
- New vessel deliveries (Q4): Four vessels (two Suezmax tankers for Koch, one container vessel for Maersk, one car carrier for Eukor); added $260 million to backlog.
- Asset sale: 2009-built Suezmax tanker sold post-Q4 for $39 million; expected $5 million gain in Q1 and $23 million in net cash proceeds.
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