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Dec 31, 2024
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Hafnia Ltd Q4 2024 Earnings Report
Hafnia reported a decline in revenue and net profit in Q4 2024 due to market challenges.
Key Takeaways
Hafnia generated revenue of $352.8 million in Q4 2024, a decline from the previous year. Net income dropped to $79.6 million, impacted by lower tanker rates and increased crude sector competition. EPS for the quarter was $0.16. The company distributed $14.6 million in dividends and executed share buybacks, bringing total shareholder returns to 80% of net profit.
Q4 2024 revenue declined to $352.8 million from $472.0 million in Q4 2023.
Net income fell to $79.6 million, down from $176.4 million in Q4 2023.
Adjusted EBITDA decreased to $131.2 million from $234.5 million last year.
Free cash flow remained strong, supporting share buybacks and dividends.
Hafnia Ltd
Hafnia Ltd
Hafnia Ltd Revenue by Segment
Revenue by Segment
TCE income Revenue
CapyFin.comCommercial pool income Revenue
CapyFin.com Forward Guidance
Hafnia expects market volatility to continue in 2025, with geopolitical factors influencing global tanker demand. The company remains focused on capital efficiency and fleet modernization.
Positive Outlook
- Strong global demand for tanker services expected in 2025.
- Fleet expansion with methanol-fueled vessels supports decarbonization goals.
- Strategic share buybacks enhance shareholder value.
- Expected rebound in tanker rates due to global oil trade shifts.
- Robust financial position with sustainable dividend policy.
Challenges Ahead
- Continued pressure from crude tanker sector impacting rates.
- Market volatility due to geopolitical developments.
- Higher operating costs expected due to environmental regulations.
- Limited long-haul trades affecting voyage earnings.
- Potential supply chain disruptions impacting fleet operations.