Ship Finance International Limited 1Q 2014 Results May 27, 2014 1
1Q 2014 highlights Increased quarterly dividend of 0.41 per share Dividend yield of approximately 9%(3) Net income of 40.7 million ( 0.44/share) for the quarter Aggregate charter revenue of 160.1 million (1.72/share)(1) EBITDA(2)…
Recent events Acquisition of nine secondhand container vessels 7 x 4,100 TEU (2002-built) and 2 x 5,800 TEU (2001/2002-built) Attractively priced assets originating from the German KG market All vessels delivered and on long-term…
Recent events Delivery of harsh-environment jack-up drilling rig West Linus 600 million acquisition was completed in February 2014 Full cash-flow after commencement of sub-charter to ConocoPhillips in May 2014 15 million received…
5.1 billion charter backlog(1) Charterers by Mkt. Cap Revenues per segment mill. 5bn < 5bn 38% 48% 600 400 200 0 Private 2014 2015 2016 2017 14% Offshore Tanker Drybulk Liner 1) Fixed charter backlog as of March 31,…
Frontline vessels Vessels and cash flow 15 VLCCs and 5 Suezmaxes remaining 32 million base EBITDA contribution per quarter Cash Sweep: Up to 11.7m per quarter and accumulating from 17,675/day (VLCCs) and 13,200/day (Suezmax)…
Contributions from projects last 12 months(1) Large performing fleet with significant cash flow 487m EBITDA-equivalent last twelve months 176m net cash flow from projects after interest and debt amortization(3) mill. 800 13…
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, 2013 except per share data) 2014 2013 (audited) Charter revenues - operating lease 47 110 45 745 156 238 Charter revenues - finance lease 34…
Balance sheet BALANCE SHEET Mar 31, Dec 31, 2013 (in thousands of ) 2014 (audited) ASSETS Short term Cash and cash equivalents 36 982 58 641 Available for sale securities 60 658 76 925 Amount due from related parties 21 090 13 249 Other…
Liquidity and financing 334 million in total available liquidity at quarter end 37 million cash and cash equivalents 297 million available under revolving credit lines Subsequent to quarter-end, 73 million was used to repay bond…
Capex overview(1) 4 x 8,700 TEU container vessels under construction in Korea Expected delivery between 3Q 2014 1Q 2015 Debt financing will be arranged before delivery Financing amount expected to be higher than remaining capex…
Summary Reported net income of 40.7 million in the first quarter Including 12.2 million cash sweep and profit share EBITDA(1) equivalent cash flow of 129.7 million including associated companies Increased quarterly dividend of…
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