Sfl Corporation Limited ( (SFL) ) has released its Q4 earnings. Here is a breakdown of the information Sfl Corporation Limited presented to its investors.
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SFL Corporation Limited is a leading maritime infrastructure company, focusing on the ownership and operation of a diversified fleet of vessels on long-term charters to high-quality companies across various shipping markets. The company has transformed from a vessel financing provider to a maritime infrastructure company over the last decade.
In its preliminary Q4 2024 earnings report, SFL Corporation announced a net profit of $20.2 million, or $0.15 per share, alongside its 84th consecutive quarterly dividend of $0.27 per share. The company reported operating revenues of approximately $229.1 million, showcasing its commitment to shareholder returns and operational growth.
Key financial highlights include a charter hire revenue of $231.7 million, an adjusted EBITDA of $131.9 million, and the issuance of a $150 million bond. The company also made strategic moves, including the sale of an older container vessel and the exercise of a purchase option by Golden Ocean on eight capesize bulkers. Additionally, SFL was awarded $48 million in compensation from Seadrill.
The company’s estimated fixed-rate charter backlog stands at approximately $4.3 billion, with a weighted remaining charter term of 6.7 years, and 67% of this backlog is with investment-grade customers. SFL’s strategic focus on environmental sustainability is evident with its investment in LNG dual-fuel vessels, aiming to enhance fuel efficiency and reduce carbon footprint.
Looking ahead, SFL Corporation remains focused on executing its growth strategy by owning and operating modern maritime assets with long-term charters. The company aims to continue reducing its carbon footprint and optimizing vessel performance, anticipating improved shipping rates and vessel values in the future.
