Avance Gas Holding Ltd (AVACF) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you and welcome everybody to the full year result presentation for Arvans Gas. We very much appreciate you sharing your Valentine's Day with myself and Randi and I hope we will get you in the right mood for the rest of the night. So before we begin I just want to remind you on the disclaimer Randi. So this is not exact science so we will give some forward-looking statements. We use a couple of non-GAAP measures like time charter equivalent earnings and of course we cannot cover all the ground in this short presentation so we also recommend you read our quarterly report which we also published this morning. So with that I think we are ready to go. So let's review the highlights. Numbers came in slightly ahead of our guidance provided in November. Time charter equivalent rates or earnings per ship, this is the average sale-in rate, was 76,200 per day, slightly ahead of our guidance of 70 to 75,000 dollars per day. So please note that we are guiding on discharge to discharge numbers. That resulted in a very nice profit for the quarter, 61.5 million in total, translating into our earnings per share of 80 cents, which is actually the second best quarterly results we have delivered in the history of the company, only beaten by Q3 in 2015. All together, that also resulted in a very strong numbers for the full year. Full year profit of 164 million, translating into earnings per share, $2.14. Again, the second best year, only beaten by 2015. And actually, if we wanted, we could have beaten the 2015 numbers as we sold the ship, Iris Glory, which came off our two-year time charter with IoT in the end of November. We could have handed her to new owners at that time, but as we sent out in the press release, we managed to squeeze in one spot voyage prior to delivering this s...