Half Year 2022 Pacific Basin Shipping Ltd Earnings Call Transcript

Feb 14, 2024

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Jul 28, 2022 / 09:30AM GMT
Operator

Welcome to the Pacific Basin 2022 Interim Results Announcement Call. I'm pleased to Chief Executive Officer, Mr. Martin Fruergaard. (Operator Instructions) Mr. Fruergaard, please begin.

Martin Fruergaard - Pacific Basin Shipping Limited - CEO & Executive Director

Thank you. Welcome, ladies and gentlemen, and thank you for attending Pacific Basin's 2022 interim results earnings call. My name is Martin Fruergaard, I'm CEO of Pacific Basin, and I'm joined on the line by our CFO, Peter Schulz.

Please turn to Slide 3. In the first half of 2022, we generated our best interim results ever, producing an underlying profit of $457.5 million, a net profit of $465.1 million and an EBITDA of $566.9 million. This yielded an exceptionally strong return on equity of 48% with basic earnings per share of HKD 74.5. Our financial position continues to strengthen with available committed liquidity of USD 698.6 million and a net cash position of USD 68.9 million as at 30th of June 2022. In light of the strong earnings cash position and our confidence in the longer-term

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