Fornebu, 27th February 2025, Ocean Yield AS publishes its fourth quarter 2024 results, the 2024 Annual Report and ESG Report for 2024.
The results and management comments for the fourth quarter can be found on pages 90-96 in the Annual Report.
HIGHLIGHTS FOR Q4 2024
- EBITDA for Q4 2024 was USD 49.7 million and Adjusted EBITDA was USD 86.5 million. Adjusted EBITDA for the full year 2024 was USD 374.7 million.
- Net profit for Q4 2024 was USD 25.8 million and Net Profit for the year 2024 was USD 96.6 million.
- Strong balance sheet, with an equity ratio of 31.2% and USD 110.6 million in cash.
- During the quarter, the Company closed the investment in France LNG Shipping SAS, a company owning a portfolio of LNG carriers on long-term charters to three European investment grade counterparties.
- The Company also took delivery of two Newcastlemax newbuildings with long-term charter to CMB.TECH NV.
- The Company repaid all remaining bonds under the bond issue OCY07.
- The EBITDA charter backlog at the end of Q4 2024 was USD 4.2 billion with an average remaining charter duration of 10.4 years.
Andreas Røde, CEO of Ocean Yield, said in a comment:
“I am pleased to announce strong results for the fourth quarter, with Net Profit of USD 25.8 million and USD 96.6 million for the full year 2024. During the fourth quarter, we completed the investment into France LNG Shipping and took delivery of two Newcastlemax dry-bulk vessels with long-term charters. The financial position of the Company is strong, with an EBITDA charter backlog of USD 4.2 billion and an average charter tenor of 10.4 years.”
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Source: Ocean Yield ASA