Hafnia - Presentation of the 2023 annual results

We have the pleasure of inviting you to Hafnia’s FY 2023 presentation where CEO Mikael Skov will take us through the annual results and discuss the latest trends in product tanker market. The event will take place on Tuesday 05 March 2024 at 13.00 CET.

The report is also expected on Tuesday 05 March 2024. Hafnia is not giving guidance, neither on a full year or on a quarterly basis.

Consensus expectations according to Refinitiv among 7 analysts are for a TCE Income of USDm 1,490 while EBITDA and Net Income are expected at USDm 1,021 and USDm 771.7 respectively for 2023.

For Q4 2023 TCE income, EBITDA, and Net Income are expected at USD 339.0, USD 239.2, and USD 168.1 respectively, signalling a stronger quarter than Q3 2023, but below the levels of H1 2023. In historical terms these are still very high numbers, but is somewhat lower than 2022, which was a record year driven by extreme market dislocation.

Hafnia has paid quarterly dividends every quarter since Q1 in 2022 and are expected to do the same for Q4 in conjunction with the annual report. Dividends in 2023 were USD 0.3044 per share for Q1 2023, USD 0.2528 per share following Q2 2023, and USD 0.2032 for Q3 2023, reflecting a dividend payout ratio of 60% for Q1, 60% for Q2, and 70% for Q3. A 70% payout ratio is also expected for Q4 for a dividend around USD 0.23 per share, with a dividend yield of approx. 3.1% for the quarter.

Disclaimer: HC Andersen Capital receives payment from Hafnia for a Digital IR/Corporate Visibility subscription agreement. /Philip Coombes, 11:08 on 01/03/2024