Full Year 2022 Pacific Basin Shipping Ltd Earnings Call Transcript

Feb 14, 2024

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Feb 23, 2023 / 09:30AM GMT
Operator

Welcome to today's Pacific Basin 2022 Annual Results Announcement Call. I'm pleased to present Chief Executive Officer, Mr. Martin Fruergaard. (Operator Instructions) Mr. Fruergaard Page, you may now 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 Annual Results Earnings Call. My name is Martin Fruergaard. I'm CEO of Pacific Basin, and I'm joined by our CFO, Peter Schulz.

Please turn to Slide 3. I'm pleased to report that in 2022, we achieved record underlying profit of USD 715 million and EBITDA of USD 935 million. Our second best net profit of USD 702 million also produced an excellent return on equity of 38%. Thanks to these strong cash flows, we were able to end the year with net cash of USD 65.3 million, and we have available committed liquidity of USD 615 million as at 31st December, 2022.

Given the excellent performance of the company in 2022 and our confidence in the longer-term fundamentals of the

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