Hafnia - Presentation of Q3 2023

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We have the pleasure of inviting you to Hafnia’s Q3 2023 presentation where CEO Mikael Skov will take us through the numbers and discuss the latest trends in tanker business. The event will take place on Monday the 20th of November at 10:30 a.m. CET.

The report is expected the week before on Friday the 17th of November. Hafnia is not giving guidance, neither on a full year or on a quarterly basis.

Consensus expectations according to Refinitiv among 4 analysts are for a TCE Income of USDm 305.0 while EBITDA and Net Income are expected at USDm 207.6 and USDm 134.2 respectively in Q3 2023. In historical terms these are still recording breaking numbers but is somewhat lower than realized numbers in the last 4-5 quarters, and thus reflect that rates had come down during 2023.

Hafnia has paid quarterly dividends every quarter since Q1 in 2022 and are expected to do the same for the coming quarter. In Q1 2023 dividends were at USD 0.3044 per share while it was at USD 0.2528 per share following Q2 2023 equal to 60% of Net Profit in both quarters. Current consensus expectations for Q3 2023 are for a dividend of USD 0.22 per share or NOK 2.45 per share which equals a yield of approx. 3.3% at current share price and exchange rate.

Disclaimer: HC Andersen Capital receives payment from Hafnia for a Digital IR/Corporate Visibility subscription agreement. /Rasmus Køjborg, CFA at 19.31 on 01/11-2023