Avance Gas Holding Ltd (AVACF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay thank you everybody for joining and this is Avanska's fourth quarter results presentation where we also cover the recent events, the market and of course the full year 2024 numbers. Today I am joined as usual by our CFO Randi who will go through the numbers in a bit more detail later in the presentation before I do a market section and the Q&A session. So before we begin I just want to highlight our disclaimer We will provide some non-GAF measure like time charter equivalent earnings, which is the best proxy for average rate obtained on the chips. Of course, there are limits to completeness of the detail we can provide. So I also recommend you to read the earnings report, which we also distributed this morning. So let's kick off with the highlights. Q4, maybe not too surprisingly, was a very profitable quarter for us as we closed the sale of the 12 VLGCs to BW in that $1 billion transaction. Hence, we booked substantial gains on that transaction and ended up with net profit for the quarter of $210 million, giving our earnings per share of $2.74. adjust away all the profits and transactions related to the sale of ships. We still delivered a small profit from operation, $13 million, and adjusted earnings of $0.18. In total, we've been selling 16 ships this year, booking profit from those ships. If we take away those transactions for the year, we delivered an adjusted profit of $125 million. which is actually our third highest number obtained. So all in all, a good year just from operation, but it's a tremendous year when taking into consideration also the asset sales we have been doing. Net profit for the year, 443 million, which then includes our market loss on the BW shares we received, giving an X of $5.78. So status, as I mentioned, we completed the sale of th...