Avance Gas Holding Ltd (AVACF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, everybody, for joining our webcast today. We have some exciting news for you all, which you might already be aware of. I'm joined as usual by our CFO, Randi Navdal-Bekkelund, who will run you through the financials a bit later in the presentation. Just to remind you, you can also ask questions either by the chat or by the chat function. And once we conclude the presentation, we will do some Q&A. in case there are some questions to today's presentation. Before we begin, I'm just going to remind you about our disclaimer. We will be giving some forward-looking statements and use non-GAAP measures like TCE. And there are limits to how many details we can cover in this presentation, so I recommend that you read the presentation together with the earnings release, which we also published today, this morning, 7 o'clock. So let's kick off. I think one of the big highlights today is the dividend. We've been ramping up the dividend quite a lot the last couple of years. And for this quarter, we are prepaying some of the gains we are booking for the BW transaction. So back in 2022, we paid $1.1. We almost doubled that in 2023, $2.15 per share. And then given the sale gains we recorded in the first quarter of this year, we actually paid off the same number, $2.15 per share, 165 million in total in just one single quarter. We paid off 135 in Q2. We also had some sale gains in that quarter. So altogether, for the first half of the year, we paid out $3.50 or $268 million. With all of the fleets now sold, we don't see any reason for you guys to be waiting for the money. Interest rate for dollar is not zero anymore. It's actually quite attractive returns on cash. So in contrast to when cash was trash, cash actually is king these days. So we don't see any need for you to be ...