Hunter Group Asa · OSL:HUNT
Hunter Group Asa — Q3 2024 Earnings Presentation
17 slides from Hunter Group Asa's earnings presentation, Nov 21, 2024
Slide 1: Hunter Group ASA Q3 2024 results
Hunter Group ASA Q3 2024 results 21 November 2024
Slide 2: Disclaimer
Disclaimer CERTAIN STATEMENTS INCLUDED IN THIS DOCUMENT CONTAIN FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS INCLUDE STATEMENTS CONCERNING PLANS, OBJECTIVES, GOALS, STRATEGIES, FUTURE EVENTS OR PERFORMANCE, AND UNDERLYING ASSUMPTIONS AND OTHER STATEMENTS, WHICH ARE OTHER THAN STATEMENTS OF
Slide 3: Responsibility statement
Responsibility statement The Board of Directors and the CEO confirm that to the best of our knowledge the condensed set of financial statements (unaudited) as of 30 September 2024 and the third quarter of 2024, which have been prepared in accordance with IAS 34 – Interim Financial Reporting, gives a
Slide 4: Patience is a virtue
Patience is a virtue Thus far, the winter market has underperformed our expectations. However, increasing global oil demand, minimal fleet growth, a potential rebound in Chinese oil imports, and indications of a 'Maximum Pressure' strategy from the U.S. towards Iran suggest that we may have passed t
Slide 5: Highlights – Q3 2024
Highlights – Q3 2024 Financial highlights Q3 2024 • The realized net TC result was USD 3.38m for the quarter, impacted by a weaker than expected tanker market Net TC result (loss) USD (3.38m) • The unrealized loss on TC position was USD 2.11m, a non-cash reversal of Unrealized TC position result (lo
Slide 6: VLCC time charter update
VLCC time charter update Avg. TC performance (USDk/d) USDk / d 1 Index TC (out) Fixed rate TC (in) Seasonality-suggested TCE • Q3 VLCC rates significantly underperformed our expectations. 85 Historically, the VLCC market turns upwards in September, but this year the September rally failed to materia
Slide 7: Volatile rates with plenty of trigger potential
Volatile rates with plenty of trigger potential Achieved dayrates since August (+/- 85%) 50,000 Rates have disappointed so far, but: 45,000 • Oil demand and ton miles keep growing 40,000 • Fleet is older and only 5 ships are scheduled to be delivered in 2025 35,000 • China’s stimulus efforts indicat
Slide 8: The oil market keeps expanding
The oil market keeps expanding Oil demand and production growth 3.0 West of Suez East of Suez • Major forecasting agencies (OPEC, IEA, EIA) expect strong demand and production growth in 2025 2.5 • Demand forecasts are between 0.9mbd and 1.5mbd • Production growth could reach as much as 2mbd, in larg
Slide 9: China set for rebound
China set for rebound Chinese oil imports set to rebound 1mbd import • Year to date, Chinese oil imports have declined by around 1mbd in 2024, 14.0 growth expected ’25 compared with 2023, as the broader Chinese economy is experiencing = ~23 VLCCs1 slowing growth 12.0 • Chinese oil imports have grown
Slide 10: Shadow tankers
Shadow tankers % of Chinese oil imports lifted by “shadow tankers” • China is currently sourcing about 30% or between 1.5 and 1.8mbd of its 35% seaborne oil imports from Iran, Venezuela and Russia • A large portion of this is transported on shadow tankers 30% • The “shadow fleet” is believed to cons
Slide 11: Maximum pressure
Maximum pressure Iranian oil exports • Iranian oil exports have increased significantly during the Biden 2.5 administration, but the Trump administration has announced an intention 2.1 2.12 for a reversal immediately following Trump’s inauguration through the “maximum pressure” campaign 2.0 1.92 1.8
Slide 12: The case remains intact
The case remains intact What is down comes up, and what is up comes down Herbjørn Hansson - Founder, Chairman & CEO Nordic American Tankers 12
Slide 13: Financial statements – Q3 2024
Financial statements – Q3 2024 Income statement – Q3 2024 Balance sheet – Q3 2024 Quarters Year to date Year Assets (Unaudited figures in USD 1 000) 3Q 2024 3Q 2023 Note 30.09.2024 30.09.2023 31.12.2023 (Unaudited figures in USD 1 000) Note 30.09.2024 30.06.2024 30.09.2023 31.12.2023 NON-CURRENT ASS
Slide 14: Financial statements – Q3 2024
Financial statements – Q3 2024 Cash flow statement – Q3 2024 Changes to equity – Q3 2024 Quarters Year to date Year Share Own Share Currency Retained Total (Unaudited figures in USD 1 000) 3Q 2024 3Q 2023 Note 30.09.2024 30.09.2023 31.12.2023 (Unaudited figures in USD 1 000) Note Capital Shares prem
Slide 15: Notes to the financial statements – Q3 2024
Notes to the financial statements – Q3 2024 1. Accounting principles The exercising of the options for the primary insiders in February 2023 resulted in an equity effect of NOK 1.25 million. The reclassification from General and administrative expenses to equity was performed in 3Q 2023 with These c
Slide 16: Notes to the financial statements – Q3 2024
Notes to the financial statements – Q3 2024 4. Transactions with related parties 6. Investments in other financial assets The following table provides the total amount of transactions with related parties controlled by the members of the In 4Q 2023 the Group invested USD 492 thousand for 4 % in Njor
Slide 17: Hunter Group ASA
Hunter Group ASA Org. nr. 985 955 107 Dronningen 1 0287 Oslo, Norway +47 975 31 227 Info (a) huntergroup.no