SFL Corp Ltd (STU:UG6)

Q4 2024 SFL Corporation Ltd Earnings Call Transcript

Feb 12, 2025 / 03:00 PM GMT

Release Date Price: €10.05 (-4.56%)

Transcript

Key Points

Positve

SFL Corp Ltd (SFL) reported a significant increase in EBITDA equivalent to $581 million over the last 12 months.
The company has a strong fixed rate backlog of approximately $4.3 billion, with two-thirds of this from investment-grade customers, ensuring cash flow visibility and resilience.
SFL Corp Ltd (SFL) is paying a quarterly dividend of $0.27 per share, representing a 10% dividend yield.
The company successfully raised $1.3 billion in financing, including $220 million in senior unsecured bonds, and a new $150 million bond in the Nordic market.
SFL Corp Ltd (SFL) won a legal dispute, with Cyrill ordered to pay approximately $48 million in compensation, including interest and legal costs.

Negative

Net income for the quarter was $20 million, or $0.15 per share, which is a decrease from the previous quarter's $44.5 million or $0.34 per share.
The Hercules rig experienced a low utilization rate of 67% due to idle periods, impacting revenue generation.
The company faced increased vessel operating expenses due to scheduled dry dockings and new vessel deliveries.
Profit share contributions were lower than typical quarters due to reduced fuel cost spreads.
The potential appeal of the $48 million ruling against Cyrill could delay the final resolution and receipt of compensation.

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

SFL.N - SFL Corporation Ltd
Q4 2024 SFL Corporation Ltd Earnings Call
Feb 12, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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My name is Espinosson. I'm Vice President of investor relations in SFL. Our CEO Uliaako will start the call with an overview of the 4th quarter highlights. Then our Chief Operating Officer Timm Shirley, will come and unvesel performance matters, followed by our CFO Axel Olson, who will take us through the financials. The conference call will be concluded by opening up for questions, and I will explain the procedure to do so prior to 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 US Private Securities Litigation Reform Act of 1,995. Words such as expects, anticipates, intends, estimates, or similar expressions

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