FLEX LNG Ltd. (FLNG) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.279 Hi everybody and welcome to first quarter 2025 result presentation. 00:00:05.279 -- 00:00:10.588 My name is Marius Foss, I am the interim CEO of FlexLNG and as usual I'm joined by our 00:00:10.588 -- 00:00:14.915 CFO Knut Roholt who will guide you through the financials in a bit. 00:00:14.915 -- 00:00:19.682 We will cover the financials, market update and conclude the earnings presentation with 00:00:19.682 -- 00:00:21.966 a Q&A session. 00:00:21.966 -- 00:00:26.533 If you have any questions you can use the chat function or send questions to our IR at 00:00:26.533 -- 00:00:28.533 flexlng.com. 00:00:29.933 -- 00:00:34.958 And before we begin, as a quick reminder, today's presentations will include 00:00:34.958 -- 00:00:36.620 forward-looking statements. 00:00:36.620 -- 00:00:40.542 We will also be using non-GAAP measures. 00:01:03.852 -- 00:01:09.240 Adjusting for non-cash items, we booked 29.4 million in adjusted 00:01:09.240 -- 00:01:15.205 net income, implying a 54 cents in adjusted earnings per share. 00:01:15.448 -- 00:01:19.775 Last quarter, we added up to 37 years on new contracts backlog for Flex Consolation, 00:01:19.775 -- 00:01:25.663 Flex Courageous, and Flex Resolute. This opened up for a very attractive refinancing. 00:01:25.663 -- 00:01:30.690 We have therefore initiated the balance sheet optimization program 3.0, and Knut 00:01:30.690 -- 00:01:34.052 will guide on this later in the presentation. 00:01:34.700 -- 00:01:38.929 On the fleet, Flex Constellation was re-delivered from time charter in late February 00:01:38.929 -- 00:01:41.875 and has been traded in the spot market since. 00:01:41.875 -- 00:01:47.006 Lastly, Flex Artemis, who is currently trading on a variable index, will be re-delivered 00:01:47.006 -- 00:0...