tiprankstipranks

Hafnia reports Q2 EPS 51c vs. 42c last year

Reports Q2 revenue $563.1M vs. $478.2M last year. Mikael Skov, CEO of Hafnia, commented: “I am delighted to announce that Hafnia in Q2 has once again delivered strong results, achieving a net profit of USD 259.2 million, bringing our total net profit in the first half of 2024 to USD 478.8 million. This quarter marks our best performance since the beginning of 2023 and represents the strongest first-half results in our company’s history. Our adjacent fee-generating business segments have continued to thrive in this earning environment, contributing USD 10.7 million to our overall results in Q2. At the end of the second quarter, our net asset value (NAV) 1 stands at around USD 4.5 billion. This increase is primarily driven by the rising value of our vessels, resulting in a NAV per share of approximately ~USD 8.77 (NOK 93.31). With these strong results and in line with our recent increase in the dividend payout ratio, I am pleased to announce a dividend payout ratio of 80% based on a net LTV of 21.3% attained in Q2. With this, we will distribute a total of USD 207.4 million or USD 0.4049 per share in dividends. This marks the highest dividend payout in our company’s history for the second consecutive quarter, reinforcing our dedication to providing strong shareholder returns.”

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue