Ship Finance International Limited 2Q 2015 Results August 26, 2015 1
2Q 2015 highlights Increased quarterly dividend of 0.44 per share 11.8% dividend yield(1) Net income of 68m (0.73/share) for the quarter Aggregate charter revenue of 148m (1.58/share)(2) EBITDA(3) of 125m (1.34/share)…
Recent events Acquisition of 8 x Capesize dry bulk carriers 10 year time-charters to Golden Ocean Group Limited 7 vessels delivered in July/August Adding nearly 500m charter backlog Acquisition of 3 x 9,300-9,500 TEU container…
Recent events, continued Sale of notes and warrants in Horizon Lines Received in 2012 as compensation for charter termination 72m cash proceeds in 2Q 2015 Book gain of 45m Merger between Frontline Ltd. and Frontline 2012 Ltd.…
8 x Capesize bulkers to Golden Ocean Transaction 272m aggregate purchase price and 166m bank financing Vessels built 2009-2013 Full cash-flow effect from 4Q 2015 Charter and Counterparty GOGL listed on Nasdaq and OSE 10 year…
3 x 9,300-9,500 TEU container vessels Transaction Delivery from shipyard between 4Q 2015 and 2Q 2016 246m remaining capex, expected to be financed mainly by bank debt More than 200m fixed rate charter backlog, excluding options…
The new agreement with Frontline New Chartering Terms Base rates: VLCC: 20,000/day + Suezmax: 15,000/day Opex: 9,000 per day per vessel Cash buffer in chartering company 50% profit share above base rates no limits Illustration:…
4.2 billion charter backlog(1) Charterers by Mkt. Cap Fixed revenues per segment mill. 3bn < 3bn 600 49% 39% 400 200 0 Private 2015 (2) 2016 2017 2018 12% Offshore Tanker Drybulk Liner 1) Fixed charter backlog as…
Contribution from projects last 12 months(1) Large performing fleet generating significant cash flows 547m EBITDA-equivalent last twelve months 246m net cash flow from projects after interest and debt amortization(3) mill. 800…
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 Jun 30, Mar 31, 2014 except per share data) 2015 2015 (audited) Charter revenues - operating lease 61 396 60 204 201 880 Charter revenues - finance lease 29…
Balance sheet BALANCE SHEET Dec 31, Jun 30, Mar 31, 2014 (in thousands of ) 2015 2015 (audited) ASSETS Excludes 329m available under revolving credit facilities Short term Cash and cash equivalents 61 571 49 730 50 818 Available for…
Liquidity and Capex Strong liquidity position 390m in total available liquidity at quarter end 62m cash and cash equivalents 329m available under revolving credit facilities 164m in notes available for sale Including 116m in…
2Q 2015 Summary Increased quarterly dividend of 0.44 per share 11.8% dividend yield(1) Reported net income of 68m or 0.73 per share EBITDA(2) of 125m (1.34/share) Delivery of seven Capesize dry bulk carriers on long term…
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