Safello Group AB Q3 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Total Charter Revenues: $178 million, up 8% from Q2 2023.
  • EBITDA Equivalent Cash Flow: $126 million in Q3; $489 million for the last 12 months.
  • Net Income: $50 million, or $0.39 per share, including contributions from profit share and positive mark-to-market effects.
  • Dividend: $0.23 per share, unchanged from Q2, representing an 8.8% yield based on recent share price.
  • Charter Backlog: Increased to $3.8 billion from $3.7 billion in Q2, providing strong visibility on future cash flows.
  • Profit Share: $11.3 million in Q3, up from $7.2 million in Q2; $28.5 million over the last 12 months.
  • Fleet Composition: 78 maritime assets across multiple segments (container, tanker, dry bulk, drilling rigs).
  • Container Segment: Largest contributor, with $98 million in charter hire and $10 million from profit share arrangements.
  • Tanker Segment: $42 million in charter hire during Q3, up from $35 million in Q2; largely from long-term charters.
  • Dry Bulk:** $27 million in gross charter hire, plus $1.2 million in profit share. Spot/short-term market contribution declined to $10 million from $30 million in Q2.

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Ole Hjertaker: Hi, everyone, and welcome to SFL's third quarter conference call. We do apologize for the problems with our service provider who has delayed the call now for more than 20 minutes. But I hope you have been patient and are able to listen in to us still. I will start the call by briefly going through the highlights of the quarter. Following that, our CFO, Aksel Olesen, will take us through the financials, and the call will be concluded by opening up for questions. Our Chief Operating Officer, Trym Sjølie will also be present for 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 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 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 results to differ includes, but are not limited to, conditions in the shipping, offshore and credit markets. You should therefore not place undue reliance on these forward-looking statements. Please refer to our filings

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