Slide 1: SFL Corporation Ltd. Q3 2024 Results Presentation
SFL Corporation Ltd. Q3 2024 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: Q3 2024 Highlights
Q3 2024 Highlights GROSS REVENUE(1) • Adjusted EBITDA(2) of $167m $263m • Increased contribution from energy assets and tankers NET INCOME • Earnings per share of $0.34 $45m DIVIDEND • 83rd consecutive quarterly dividend $0.27/share • ~10% dividend yield (3) BACKLOG(4) • Several vessel deliveries an
Slide 4: Recent Events
Recent Events NEWBUILD • 5x LNG dual-fuel 16,800 teu container vessels with delivery in 2028 AND CHARTERS • 10-year charters and added backlog of >$1.2 billion DELIVERY OF • Two LR2 product tankers on charters to Vitol TANKER VESSELS • Two chemical tankers on long term employment to Stolt Tankers NE
Slide 5: A Leading Maritime Infrastructure Company
A Leading Maritime Infrastructure Company PORTFOLIO(1) CONTRACT DURATION(2) CONTRACTED REVENUE(3) 39 Container 7.5 years 5x 16,800 TEU 4% LNG Dual-Fuel 7 Car carrier 7.8 years 8% 11% 18 Tanker 4.3 years $4.7bn 2 Energy 4.0 years 13% 64% 15 Dry bulk 3.9 years CHARTER HIRE Q3 2024 Time charter 96% 4%
Slide 6: Operational Performance Highlights
Operational Performance Highlights MARKET CHARTER TYPE1) OPERATING DAYS2) UTILIZATION3) REVENUE OPEX4) Q3 2024 Q3 2024 Q3 2024 Q3 2024 Q3 2024 BB $89m $19m 3,128 99.1% Container 91% TC $26m $4m 644 99.3% Car carrier 100% TC $37m $12m 1,414 99.9% Tanker 100% TC $25m $15m 1,380 97.1% Dry bulk 100% TC
Slide 7: Building Customer Relations Through Operational Efficiency
Building Customer Relations Through Operational Efficiency OUR COMPETITIVE ADVANTAGE • Close cooperation with industry-leading customers • Strong technical & operational teams • Vessels designed with focus on future flexibility 11 X LNG DUAL-FUEL VESSELS • 4 x 7,000 ceu Car Carriers • 2 x 33k stainl
Slide 8: SFL Financial Performance
SFL Financial Performance ADJUSTED EBITDA Q3 2024 BREAKDOWN(1) In millions $86m -$99m $2m $25m $37m $263m $26m $167m $89m Container Car carriers Tanker Dry bulk Energy Gross Operating and Other income Adj. EBITDA revenue (incl. G&A expenses profit share) 1) Pro-forma illustration of cash flow is not
Slide 9: Income Statement
Income Statement OPERATING REVENUE (in thousands of $ except per share data) Three months ended Sep 30, 2024 Jun 30, 2024 • $263.2m of charter hire, including share of revenue from associates and revenue classified as repayment, incl. Charter revenues: sales-type leases (excluding charter hire treat
Slide 10: Balance Sheet
Balance Sheet CASH AND LIQUIDITY (in thousands of $) Sep 30, 2024 Jun 30, 2024 • $164m cash and cash equivalents at quarter end ASSETS • New bond issue of NOK 750m issued in September, Short term addressing 2025 bond maturity and general corporate Cash and cash equivalents 163,807 186,062 purposes I
Slide 11: SFL Corporation - Summary
SFL Corporation - Summary $4.7bn Fixed revenue backlog 81 $164m Cash and cash Maritime assets equivalents $581m LTM total adjusted EBITDA(1) 1) ‘Adjusted EBITDA’ is a non- U.S. GAAP measure. It represents cash receipts from operating activities before net interest and capital payments. For details,