SFL Corp Ltd (STU:UG6)

Q1 2025 SFL Corporation Ltd Earnings Call Transcript

May 14, 2025 / 02:00 PM GMT

Release Date Price: €7.7 (-0.77%)

Transcript

Key Points

Positve

SFL Corp Ltd (SFL) announced its eighty-fifth consecutive dividend, returning more than $2.8 billion to shareholders over the years.
The company reported revenues of $193 million for the quarter, with an EBITDA equivalent cash flow of $116 million.
SFL Corp Ltd (SFL) has a charter backlog of $4.2 billion, with more than two-thirds of this from customers with investment-grade ratings, providing cash flow visibility and resilience.
The company has been active in share repurchases, buying back $10 million worth of shares below $8 per share, aligning with its capital allocation strategy.
SFL Corp Ltd (SFL) maintains a strong liquidity position, including undrawn credit lines and multiple unlevered vessels, enabling continued investment in newer assets.

Negative

SFL Corp Ltd (SFL) recorded a net loss of $32 million or $0.24 per share for the quarter, impacted by impairments and idle drilling rigs.
The company faced impairments of $34 million related to older dry bulk vessels, which struggled to find new long-term charters due to age, design, and fuel efficiency issues.
The Hercules drilling rig has been idle since Q4 2024, with market turmoil and oil price volatility delaying new employment opportunities.
Recent tariffs and market volatility have made it difficult to trade certain vessels profitably in the spot market.
The Trump administration's fees on Chinese-built and operated ships could impact approximately 27 vessels in SFL Corp Ltd (SFL)'s fleet, primarily affecting car carriers and tankers.

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

SFL.N - SFL Corporation Ltd
Q1 2025 SFL Corporation Ltd Earnings Call
May 14, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to SFL's first quarter 2025 conference call. My name is Espiosu. I'm Vice President of investor relations in SFL. Our CEO Uliakaka will start the call with an overview of the first quarter highlights, and then our Chief Operating Officer Tim Shirley will comment on vest performance matters, followed by our CFO Axel Ullison, 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,

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