Avance Gas Holding Ltd (AVACF) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, thank you, everybody, and it's a pleasure to have you here. I retired as Executive Chairman. I'm now the CEO and Board Member of the company, but I'm sitting here together with our CFO, Randi Navdal-Beklund, and we have some really good numbers to share with you today. It's quite sunny here in Oslo, probably close to 25 degrees, so we will do this rather shortly, and I think the numbers speak for themselves, so let's jump into our Now you have to go to the disclaimer, the ordinary disclaimer. Yeah, the ordinary disclaimer, of course, we are providing some expectation, forward-looking statements, and some non-GAAP measures. So just be cautious about that, and I would recommend reading the presentation together with the earnings release. Next slide. This time, we also added a special caution. The dividend in this presentation is so strong. that we also have to have a medical warning because there is some risk of, you know, shortness of breath, increased blood pressure, general ovaria, impulsive spendthrift, and I forgot to also add here that there might be some PTDS, post-traumatic dividend syndrome. So let's start with the highlights of the quarter, being, of course, the dividends. You know, last year was a fantastic year for Avans Gas. We delivered our second best numbers ever, $163.6 million in total on the bottom line. And of course, given the healthy cash balance we had, we also paid out slightly in excess of that, 101% payout ratio, $165 million in dividends for those four quarters. Last year, on top of that, we also announced that we were selling quite a few ships, four ships we announced selling higher to year end with delivery of those ships to new owners in Q1 and Q2. So we had three ships being delivered to new owners in Q1, where we booked substantial...