AWILCO LNG ASA (ALNG.OL)

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ALNG - Contract update and dividend policy

Awilco LNG ASA (OSE: “ALNG”) (“Awilco” or “the Company”) is pleased to inform it has entered a new Time Charter Contract with a major utility company for the WilForce for a firm duration of about 18 months commencing in direct continuation of the present charter. The contract is estimated to contribute with an EBITDA of about USD 73 million over the charter period.

Jon Skule Storheill, CEO of Awilco LNG ASA, commented:
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“With this contract we have been able to take advantage of the strong market and have now covered all trading days in 2023 and approximately 80% of 2024 at an average rate of approximately USD 120,000 pd. This ensures high cash generation and profitability for the next two years also considering both vessels are scheduled for special survey, and dry docking second half 2023.”

The fixed rate contracts entered for both vessels will materially increase the Company’s free cash flow generation. To maximise return to shareholders the Board of Directors have approved a revised dividend policy and thereby intend to distribute a substantial part of annual free cash flow, paid out quarterly, always subject to required working capital and a robust cash buffer. Initial payment is expected to take place in first quarter 2023 when both vessels have commenced their respective contracts.”

For further information please contact:
Jon Skule Storheill
Chief Executive Officer
Mobile: (47) 913 44 356

Per Heiberg
Chief Financial Officer
Mobile: (47) 952 20 264

Kilde

[Semule]

Dette skulle for begge skipene tilsi årlig ebitda på rett under 75 m $. Med $-kurs på 10 er det ca. 5,6 kr per aksje.
Med lån 2,2 mrd kr (per Q2, antagelig 2,1 per 1.1.2023), avdrag og nedskrivninger, skatt osv. kan vi vel vente et resultat på rundt 4,5 per aksje. (uten å ha gått supernøye igjennom det). Utbytte på rundt 50 øre per kvartal neste år?

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ALNG - Third quarter 2022 results

The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months ended September 30, 2022.
HIGHLIGHTS )
• Awilco LNG had a net loss of USD 5.1 million and loss per share of USD 0.04 for third quarter, down from a net zero result in second quarter 2022. Year to date result ended at USD 0.9 million and USD 0.01 per share as per September 30, 2022
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• Net freight income of USD 4.8 million in third quarter 2022, down from USD 10.2 million in second quarter 2022.
• EBITDA third quarter 2022 ended at USD 1.3 million, down from USD 6.8 million in second quarter 2022
• Vessel utilization was 44% for third quarter, down from 88% for second quarter, with a net TCE of USD 24,800 per day
• In August the company delivered the WilForce on a six-month contract at market rates
• In November the company signed an 18-month contract for WilForce commencing in first quarter 2023 in direct continuation from the present six-month charter. The charter will generate an EBITDA of approximately USD 73 million over the charter period
• In November the Board of Directors approved a revised dividend policy to maximise return to shareholders and thereby intend to distribute a substantial part of annual free cash flow, paid out quarterly, always subject to required working capital and a robust cash buffer. Initial payment is expected to take place in first quarter 2023 when both vessels have commenced their respective contracts

Jon Skule Storheill, Chief Executive Officer, commented:
“As indicated in the second quarter report, third quarter was a weak quarter for Awilco LNG. Both vessels had extended idle periods between their contracts as a result of the weak market caused by the temporary closure of Freeport LNG. The cost to position the vessels for next employment was also unusually high due to the very high cost of fuel. That being said, we are pleased to report that we have secured employment at strong rates for our vessels ensuring solid and stable earnings for the company through 2023 and most of 2024. The fixed earnings will also enable the company to return value to our shareholders and our Board of Directors have approved a revised dividend policy which the Company will follow up on in the coming quarters.”

Enclosed is in addition a third quarter 2022 presentation. No physical presentation will be held covering third quarter 2022.

Note on Alternative performance measures: Alternative performance measures are defined and explained in the APM section of the Quarterly report.

Oslo, November 29, 2022

For further information please contact:

CEO Jon Skule Storheill
Phone: +47 913 44 356

CFO Per Heiberg
Phone: +47 952 20 264

About Awilco LNG ASA
Awilco LNG is a Norwegian based LNG transportation provider, owning and operating LNG vessels intended for international trade. The Company currently owns two 2013 built 156,000 cbm TFDE membrane LNG vessels, WilForce and WilPride.

Kilde

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Awilco LNG ASA – Mandatory Notification of trade

On November 30, 2022, Fiducia AS, a company controlled by Jon Aksel Torgersen, sold in the open market 63,926 shares in Awilco LNG ASA at a price of NOK 8.9359 per share. Following the aforementioned transactions Fiducia AS own a total of 513,638 shares in Awilco LNG ASA, or 0.39% of the registered share capital. Jon Aksel Torgersen is a member of the board of directors of Awilco LNG ASA.
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Kilde

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Awilco LNG ASA – Mandatory Notification of trade

On December 2, 2022, Fiducia AS, a company controlled by Jon Aksel Torgersen, sold in the open market 32,241 shares in Awilco LNG ASA at a price of NOK 8.90 per share. Following the aforementioned transactions Fiducia AS own a total of 444,675 shares in Awilco LNG ASA, or 0.34% of the registered share capital. Jon Aksel Torgersen is a member of the board of directors of Awilco LNG ASA.
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Kilde

[holmes]

Da blir det til julegaver der hjemme i år også

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Awilco LNG ASA – Mandatory Notification of trade

On January 4, 2023, Fiducia AS, a company controlled by Jon Aksel Torgersen, bought in the open market 150,000 shares in Awilco LNG ASA at a price of NOK 7.741 per share. Following the aforementioned transactions Fiducia AS own a total of 594,675 shares in Awilco LNG ASA, or 0.45% of the registered share capital. Jon Aksel Torgersen is a member of the board of directors of Awilco LNG ASA.
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Kilde

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Awilco LNG ASA – Mandatory Notification of trade

On February 8, 2023, Fiducia AS, a company controlled by Jon Aksel Torgersen, sold in the open market 56,000 shares in Awilco LNG ASA at a price of NOK 8.7076 per share. Following the aforementioned transactions Fiducia AS own a total of 539,675 shares in Awilco LNG ASA, or 0.41% of the registered share capital. Jon Aksel Torgersen is a member of the board of directors of Awilco LNG ASA.
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Kilde

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ALNG - Key information relating payment of cash dividend

Dividend amount: NOK 0.50 per share
Declared currency: NOK
Last day including right: February 22, 2023
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Ex-date: February 23, 2023
Record date: February 24, 2023
Payment date: on or about March 9, 2023
Date of approval: February 15, 2023

Oslo, February 16, 2023

Kilde

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Awilco LNG ASA – Mandatory Notification of trade

On March 28, 2023, Fiducia AS, a company controlled by Jon Aksel Torgersen, sold in the open market 95,517 shares in Awilco LNG ASA at a price of NOK 8.16 per share. Following the aforementioned transactions Fiducia AS own a total of 443,158 shares in Awilco LNG ASA, or 0.33% of the registered share capital. Jon Aksel Torgersen is a member of the board of directors of Awilco LNG ASA.
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Kilde

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Major Shareholding Disclosure Notification

See attachments on www.newsweb.no
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Kilde

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AWILCO LNG ASA - Annual General Meeting

Notice is hereby given that the Annual General Meeting of Awilco LNG ASA will be held on Thursday May 11, 2023 at 12:30 hrs.

In accordance with section 5-8 of the Norwegian Public Limited Liability Companies Act, the general meeting will be held as a phone conference meeting.
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Please find attached the notice of the Annual General Meeting including attendance form, proxy form and advance voting form.

The notice of the Annual General Meeting and the ancillary documents including the annual report for the financial year 2022 and the proposal from the nomination committee are available at the Company’s website www.awilcolng.no .

Oslo, April 21, 2023

For further information please contact:
CFO Per Heiberg
Phone: +47 952 20 264

Kilde

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Awilco LNG ASA - Minutes from AGM

The Annual General Meeting (AGM) in Awilco LNG ASA was held today May 11, 2023. Enclosed is the Minutes of Meeting from the AGM.

Oslo, May 11, 2023
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For further information please contact:
CFO Per Heiberg
Phone: +47 952 20 264

Kilde

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Awilco LNG ASA - First quarter 2023 results

The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months ended March 31, 2023.

HIGHLIGHTS 1)
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• Awilco LNG achieved a net result of USD 9.0 million and profit per share of USD 0.07 in first quarter, up from a net result of USD 4.9 million and USD 0.04 per share in fourth quarter 2022
• Net freight income of USD 20.5 million in first quarter 2023, up from USD 16.2 million in fourth quarter 2022
• EBITDA first quarter 2023 ended at USD 16.6 million, up from USD 12.1 million in fourth quarter 2022
• Vessel utilization was 100% in first quarter, up from 93% for previous quarter, with a net TCE of USD 113,800 per day
• In March the Company paid out NOK 0.50 per share in dividend, corresponding to USD 6.4 million
• On May 23, 2023 the Board authorized a cash dividend payment of NOK 0.50 per share to be paid in June

Jon Skule Storheill, Chief Executive Officer, commented:
“We are pleased to report a strong first quarter profit of USD 9.0 million as both vessels have traded on fixed rate contracts with no off-hire throughout the entire period. These contracts ensure solid earnings for the Company in a volatile LNG transportation market. Despite low spot rates in this shoulder season we see interest and rate levels for period charters holding firm and focus from charterers seems to be very much on security of supply going forward. The fixed earnings contracts enable the company to return value to our shareholders and the board resolved and declared a quarterly dividend of NOK 0.50 payable in June 2023”

Enclosed is in addition a first quarter 2023 presentation. No physical presentation will be held covering first quarter 2023.

Note on Alternative performance measures: Alternative performance measures are defined and explained in the APM section of the Quarterly report.

Oslo, May 24, 2023

For further information please contact:

CEO Jon Skule Storheill
Phone: +47 913 44 356

CFO Per Heiberg
Phone: +47 952 20 264

About Awilco LNG ASA
Awilco LNG is a Norwegian based LNG transportation provider, owning and operating LNG vessels intended for international trade. The Company currently owns two 2013 built 156,000 cbm TFDE membrane LNG vessels, WilForce and WilPride.

Kilde

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Awilco LNG ASA - Key information relating payment of cash dividend

Dividend amount: NOK 0.50 per share
Declared currency: NOK
Last day including right: May 30, 2023
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Ex-date: May 31, 2023
Record date: June 1, 2023
Payment date: on or about June 15, 2023
Date of approval: May 23, 2023

Oslo, May 24, 2023

Kilde

[LarsErik64]

Hei,

Ser at det ligger an til utbytter i -23, men hvordan ser -omsetning/kontraktsnivå ut i 24/-25 ? Har det vært noen signaler på dette som du / dere her inne har fanget opp?

Sitter i container, men ser at bok/utbytte er attraktiv i denne. Av den grunn en interessant kandidat i tillegg til container.

[Semule]

Selskapet har uttalt at det har dekket hele 2023 og 80 % av 2024 til gjennomsnittsrate på 120 000 dollar. Antar siste 20 % i 24 pluss 2025 ligger litt frem i tid å slutte.

[LarsErik64]

Hva er kost vs rate? Og kjenner du gjeldsgraden for -23/-24/-25

Har sett indikasjoner på 19% yield i -23, og21% i -24 (prosent av aksjekurs pr 12.4=8,00)

Burde tilsi ca 1,6 -1,8 pr aksje pr år. Samsvarer det med din egen oppfatning?

[Semule]

Arctic estimerte utbytteyield i 2023 på 27 % og i 2024 på 33 % . Det var i slutten av november, men alt var jo kjent på den tiden (da var kursen vel 8,5, og siden er 1 kr utbetalt). I Q3 skal dog begge skipene dockes i totalt 70 dager (tilsammen), og er usikker på om det er regnet inn (kost pluss ratebortfall). Det ligger en oppside i erstatningskravet for Wilforce fra kollisjon i 2019, der retten dømte 75/25 i ALNGs favør. Husker ikke break even for skipene, lenge siden jeg regnet på det. Burde vel gjøre det på nytt. Har sittet et år i denne.

[Semule]

1,6-1,8 er min forventning, ja. Med evt. tillegg for erstatningen.