Ship Finance International Limited 1Q 2015 Results May 29, 2015 1
1Q 2015 highlights Increased quarterly dividend of 0.43 per share Dividend yield of approximately 11%(1) Net income of 33m (0.35/share) for the quarter 42m or 0.46 per share adjusted net income after one-off and non-cash items…
Recent events All four 8,700 TEU container newbuildings delivered 7-year time-charters to Hamburg-Sd container line Approximately 46m annual EBITDA, full cash flow effect from 2Q 2015 Acquisition of eight Capesize vessels…
The Golden Ocean transaction Sale-leaseback of eight 180,000 dwt Capesize dry bulk carriers Vessels built 2009-2013 272m purchase price (34m/vessel on average) 10 year time-charters to Golden Ocean with quarterly profit split Year…
The new Frontline agreement Existing agreement(1) New agreement In 2Q15 In 2016 From July 1, 2015 VLCC TC rates 19,187 25,687 20,000 Charter rate and Suezmax TC rates 12,910 17,959 15,000 opex adjustment Opex 6,500 6,500 9,000…
Effect of new agreement with Frontline Illustration: Net cash contribution from FRO vessels and notes (2016) 0.60 0.50 0.40 Per share/ quarter 0.30 0.20 VLCC TD3(1) forward rates 0.10 0.00 0 10,000 20,000 30,000 40,000…
4.1 billion charter backlog(1) Charterers by Mkt. Cap Revenues per segment mill. 5bn < 5bn 600 46% 41% 400 200 0 Private 2015 2016 2017 2018 13% Offshore Tanker Drybulk Liner 1) Fixed charter backlog as of March 31,…
Contributions from projects last 12 months(1) Large performing fleet with significant cash flow 551m EBITDA-equivalent last twelve months 212m net cash flow from projects after interest and debt amortization(3) mill. 800 32 600…
SFL operational performance Pro-forma illustration of cash flow (1) Not as accounted for under US GAAP Used as an internal guideline to assess the Company's performance Excluding extraordinary and non-cash items and profit share…
Profit & loss INCOME STATEMENT Three months ended Full year (in thousands of Mar 31, Dec 31, 2014 except per share data) 2015 2014 (audited) Charter revenues - operating lease 60 204 55 448 201 880 Charter revenues - finance lease 29…
Balance sheet BALANCE SHEET Mar 31, Dec 31, 2014 (in thousands of ) 2015 (audited) ASSETS Short term Cash and cash equivalents 49 730 50 818 Available for sale securities 69 116 73 656 Amount due from related parties 62 044 152 491 Other…
Liquidity and Capex Strong liquidity position 182m in total available liquidity at quarter end 50m cash and cash equivalents 132m freely available under revolving credit lines 69m in available for sale securities Mainly senior…
1Q 2015 Summary Increased quarterly dividend of 0.43 per share 11% dividend yield(1) Reported net income of 31.1m or 0.35 per share 42.6m or 0.46 per share adjusted net income after one-off and non-cash items EBITDA(2)…
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