First Ship Lease Trust (FRA:LJ9)

Full Year 2024 First Ship Lease Trust Earnings Call Transcript

Feb 11, 2025 / 02:00 AM GMT

Release Date Price: €0.0207 (-19.77%)

Transcript

Key Points

Positve

Fleet utilization was at 100% during the second half of 2024, indicating strong operational efficiency.
The trust ended the second half with a net profit of $6.9 million US dollars, showcasing financial profitability.
The liquidity position of the trust was strong with $14.8 million US dollars and zero net debt.
The sale of the Cumbrian Fisher contributed positively to the financial results with a gain of $2.3 million.
The trust's contracted future revenue stood at approximately $10.7 million US dollars, providing revenue visibility.

Negative

The market experienced a weakening from earlier highs in 2024 due to geopolitical tensions and inflation.
Consumer confidence was weak in some markets, impacting overall market conditions.
The financial results were partly boosted by one-time gains, such as the reversal of an impairment on the Clyde Fisher.
The impact of a smaller fleet is now being reflected in the revenue, indicating potential challenges in scaling operations.
Optional contracted revenues are dependent on the extension of charters, introducing uncertainty in future revenue streams.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FSLT.SI - First Ship Lease Trust
Full Year 2024 First Ship Lease Trust Earnings Call
Feb 12, 2025 / 02:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen.

Welcome and thank you for joining FSL Trust second half and full year 2024 Financial Results live webcast.

My name is Roger Woods, I'm the Chief Executive Officer of FSL Trust Management, the trustee manager of FSL Trust.

We have announced our unaudited second half and full year 2024 financial results for FSL Trust yesterday evening, and the relevant materials are available on our website www.firstshiplease.com, as well as on the SGX website.

During this live webcast, we will discuss the trust's activities and the operational and financial performance in the second half and the full year 2024.

After the presentation, we will take questions

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