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2025-02-28 Bokslutskommuniké 2024
2024-11-29 Kvartalsrapport 2024-Q3
2024-09-30 Årsstämma 2024
2024-08-30 Kvartalsrapport 2024-Q2
2024-05-31 Kvartalsrapport 2024-Q1
2024-02-22 Kvartalsutdelning FLNG 7.99927
2024-02-07 Bokslutskommuniké 2023
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2023-05-30 Kvartalsutdelning FLNG 8.004525
2023-05-16 Kvartalsrapport 2023-Q1
2023-05-08 Årsstämma 2023
2023-02-22 Kvartalsutdelning FLNG 10.1104
2023-02-14 Bokslutskommuniké 2022
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2021-03-02 Kvartalsutdelning FLNG 2.51175
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Beskrivning

LandBermuda
ListaOB Match
SektorTjänster
IndustriShipping & Offshore
Flex LNG är ett norskt bolag verksamma inom olje- och gasindustrin. Bolaget levererar LNG-bärare (flytande naturgas) och transport samt återförgasning av så kallade FSRU- enheter (Floating Storage Regasification Unit). Bolaget äger och förvaltar över flera LNG fartyg i olika storlekar. Bolaget är registrerat i Bermuda.
2020-02-26 07:00:00
Flex LNG Q4, 2019 Earnings Release

Hamilton, Bermuda Flex LNG Ltd. ("Flex LNG" or the "Company") today reports
unaudited financial results for the fourth quarter and year ended December 31,
2019. 

Highlights:

Reported revenues of $52.0 million for the fourth quarter 2019, compared to
$29.8 million for the third quarter 2019.

Reported net income of $23.9 million for the fourth quarter 2019, compared to a
net income of $0.5 million for the third quarter 2019.

Average Time Charter Equivalent ("TCE") rate of $94,000 per day for the fourth
quarter 2019, compared to $58,222 per day for the third quarter 2019.

Adjusted EBITDA of $41.9 million for the fourth quarter 2019, compared with
$21.8 million for the third quarter 2019.

In October 2019, Flex LNG Fleet Management AS, a related party, received the
Document of Compliance qualifying the Company for in-house technical ship
management services.

In November 2019, the Company received firm commitments from a syndicate of 11
banks and the Export-Import Bank of Korea ("KEXIM") for a $629 million financing
for five of the newbuildings scheduled for delivery in 2020. The facility
agreement was signed in February 2020.

In November 2019, the Company entered into a long-term time-charter with
Clearlake Shipping, a subsidiary of Gunvor Group, for the newbuilding Flex
Artemis. The period under the charter is up to ten years, where the first five
years are firm.

In December 2019, the Company entered into a 12-month time-charter with Endesa
for the vessel Flex Ranger, with charterer's option to extend by an additional
12 months. The firm period of the charter will expire around June 2021.

In January 2020, a 12-month extension option was exercised under the
time-charter agreement for Flex Enterprise, giving a firm period until the end
of the first quarter 2021. 

Further strengthening of the commercial team with the appointment of Ben Martin
as Chief Commercial Officer, who will join Flex LNG on or about April 1, 2020.

The Board of Directors has declared a cash dividend for the fourth quarter of
$0.10 per share.

Øystein M Kalleklev, CEO of Flex LNG Management AS, commented:
“2019 was an eventful and productive year for Flex LNG. We continue to build our
organization with exceptional people, most recently with today's announcement of
the recruitment of Ben Martin who will join us from Trafigura as our Chief
Commercial Officer.  Furthermore, we are taking a greater responsibility of the
management of our fleet with Flex LNG Fleet Management currently managing four
of our six vessels on water. Ship management continues to perform excellent with
no loss time injuries recorded for the second year in a row.

We took delivery of two LNG carriers in June and August 2019, and these two
vessels were put directly into a strong spot market in the second half of 2019.
Given the fact that we positioned our fleet for a stronger winter market we were
able to achieve trading results in fourth quarter of 2019 similar to what we did
in the fourth quarter of 2018, when rates were at all-time high. We are thus
pleased to announce the best-ever financial results for Flex LNG with net income
of around $24 million for the fourth quarter. Based on fixtures to date, we
anticipate the TCE for the first quarter 2020 to be close to $70,000 per day,
despite the demand slump in the first quarter due to a record warm winter and
the recent coronavirus outbreak.

We are also pleased that several of our charterers are returning customers, with
recent contract extensions for both Flex Ranger and Flex Enterprise, as well as
the long-term charter announced with Gunvor for the newbuilding Flex Artemis due
for delivery this summer. During the year we were also successful in securing
about $1.3bn of attractive long-term financing, which boosted our liquidity
position and enables us to run our ships at industry low cash break-even levels.

Due to the uncertainty and disruptions created by the coronavirus and associated
low gas prices, we have elected to be cautious by maintaining a $0.10 dividend
for the fourth quarter, and for the time being rather preserve liquidity, which
stood at close to $130 million at year-end. This gives us a comfortable
financial position to handle the current market situation. While the freight and
gas markets are currently challenging, LNG continues to be a long term story
with expected annual growth of around 3 to 4 per cent for the next two decades
as natural gas, and to greater extent LNG, is the transition fuel for a cleaner
and more sustainable future.”

Fourth Quarter 2019 Result Presentation:
Flex LNG will release its financial results for the fourth quarter 2019 on
Wednesday February 26, 2020.

In connection with the earnings release, a webcast and conference call will be
held at 3:00 p.m. CET (9:00 a.m EST). In order to attend the webcast and/or
conference call you may do one of the following:

Attend by Webcast:

Use to the follow link prior to the webcast:
https://edge.media-server.com/mmc/p/7yprvtvc

Attend by Conference Call:
Applicable dial-in telephone numbers are as follows:

Norway: +47 21 56 31 62
United Kingdom: +44 (0) 203 0095710
United Kingdom (local): 0844 493 3857
United States (Toll Free): +1 866 869 2321
Confirmation Code: 1758646

The presentation material which will be used in the teleconference/webcast can
be downloaded on www.flexlng.com and replay details will also be available at
this website.

For further information, please contact:
Harald Gurvin, CFO
Telephone: +47 23 11 40 09 

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act or the Continuing Obligations of
Oslo Børs.