Hunter Group ASA - First quarter results 2021
Oslo, 27 May 2021
Financial highlights
Total revenues of USD 12.49m
- Spot pool revenues of USD 3.13m
- Time charter revenues of USD 9.28m
Total operating expenses of USD 7.38m
- Vessel opex incl insurance of USD 2.60m
- Voyage exp and commissions of USD 0.33m
- G&A expenses of 0.43m
- USD 0.37m administrative expenses
- USD 0.03m legal expenses
- USD 0.03m non cash expenses
EBITDA of USD 9.12m
Net profit of USD 2.59m
Average daily earnings of USD 29,650
- Avg daily spot earnings of USD 21,020
- Avg daily time charter earnings of USD 34,380
Opex incl insurance of USD 5,785 per day per vessel
419 available earnings days and 450 opex days
- 149 pool spot days
- 270 time charter days
Current pro forma cash flow breakeven of approx USD 21,500 per day
Key events in Q1 2021
Extraordinary General Meeting on 1 February 2021, which approved a NOK 1.0 per share distribution
NOK 1.0 per share distributed to shareholders as a reduction in the Company’s share premium
Entered into a Memorandum of Agreement for the sale of Hunter Atla for USD 84.5m
Subsequent events
Completed the sale of Hunter Atla, securing a 46% ROI and significantly strengthened the balance sheet
Initiated share buy back and purchased a total of 3,034,702 of own shares at NOK 2.9998 per share Following the share buy back, the Company owns 11,243,196 of its own shares
At the date of this report, 91 of days in the second quarter of 2021 have been booked at an average est. dayrate of USD 24,700
65 of spot days booked at an avg est dayrate of USD 18,150
Average Q2 TC dayrates of USD 26,050
Contact:
Erik A.S. Frydendal, CEO, ef@huntergroup.no, Ph.: +47 957 72 947
Lars M. Brynildsrud, CFO, lb@huntergroup.no, Ph.: +47 932 60 882
This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.