Slide 1: SFL Corporation Ltd. Q4 2023 Results Presentation
SFL Corporation Ltd. Q4 2023 Results Presentation 1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including SFL management's examination of historical operating trends, data contained in the Company’s re
Slide 3: Q4 2023 Highlights
Q4 2023 Highlights GROSS REVENUE(1) • Adjusted EBITDA(2) of $132m $209m • Car Carrier deliveries and charter commencements NET INCOME • Earnings per share of $0.25 $31.4m • Lower earnings from Hercules due to fewer drilling days DIVIDEND • 80th consecutive quarterly dividend $0.26/share • 9% dividen
Slide 4: SFL – A Maritime Infrastructure Company
SFL – A Maritime Infrastructure Company PORTFOLIO(1) CONTRACT DURATION(2) CONTRACTED REVENUE(3) 36 Container 6.2 years 6% 7 Car carrier 7.7 years 12% 13 Tanker 3.8 years 16% $3.2bn 48% 2 Energy 3.8 years 15 Dry bulk 4.6 years 18% CHARTER HIRE Q4 2023 Bareboat charter Container Car carrier Energy Tan
Slide 5: Operational Performance Highlights
Operational Performance Highlights MARKET REVENUE CHARTER TYPE1) OPERATING DAYS2) UTILIZATION3) OPEX4) Q4 2023 Q3 2023 Q4 2023 Q4 2023 Q4 2023 Q4 2023 BB $92m $91m $17.3m 3,302 99.7% Container TC 88% $22m $3.5m $9m 403 99.8% Car carrier 100% $30m $30m $12.7m 1,171 97.9% Tanker 100% $21m $20m $11.1m
Slide 6: Bringing Industry Leading Emission Reductions To The Table
Bringing Industry Leading Emission Reductions To The Table STATE OF THE ART EFFICIENY PROGRAM ON SIX VESSELS 20% EMISSION REDUCTION PER TEU Fuel consumption per TEU Exhaust gas Variable frequency drive cleaning systems for pumps and fans -20% New propeller Supreme anti fouling paint Capacity increas
Slide 7: SFL Financial Performance
SFL Financial Performance ADJUSTED EBITDA Q4 2023 BREAKDOWN(1) In millions $22m $21m -$80m $30m $2m $45m $209m $132m $92m Container Energy Tanker Dry bulk Car carriers Gross Operating and Other income Adj. EBITDA revenue (incl. G&A expenses profit share) 1) Pro-forma illustration of cash flow is not
Slide 8: Income Statement
Income Statement REVENUE (in thousands of $ except per share data) Three months ended Dec 31, 2023 Sep 30, 2023 • $209.6m of operating revenues Charter revenues: operating leases and revenue contracts 205,268 200,781 • Including $3.4m of revenue from profit Charter revenues: sales-type, direct finan
Slide 9: Balance Sheet
Balance Sheet CASH AND LIQUIDITY (in thousands of $) Dec 31, 2023 Sep 30, 2023 • $165m at quarter end ASSETS Short term • Debt prepayment of $20m related to our 165,492 118,028 Cash and cash equivalents five supramax vessels Investment in marketable securities 5,104 6,222 Amount due from related par
Slide 10: Q4 2023 Summary
Q4 2023 Summary $3.2bn fixed revenue backlog 80th $165m consecutive Cash and cash quarterly equivalents dividend $0.26 Dividend per share 10