Hafnia (One-pager): Markets stabilize in Q1 2025 but at lower levels
Read the latest Hafnia One-pager update following the Q1 2025 results. The One-pager includes a brief company profile, a market update on product tankers, the latest financial performance, and valuation perspectives relative to peers. It also outlines several key investment risks and reasons to consider Hafnia as an investment case.
Hafnia delivered TCE earnings of USD 219 million and EBITDA of USD 125 million in Q1 2025, slightly below the previous quarter, Q4 2024, as markets have stabilized but with an elevated level of drydockings. TCE earnings were 42% lower than Q1 2024, driven by the easing of tanker markets during H2 2024 and into 2025. Hafnia maintained its quarterly dividend, declaring a USD 50.6 million dividend (USD 0.1015 per share), equivalent to an 80% payout ratio, while also executing USD 27.6 million in share buybacks with a total payout ratio of 123% for the quarter. Management remains positive on the medium-term outlook for the tanker market, with stability continuing into Q2 2025.
To learn more about Hafnia, its updated market outlook for 2025, and its capital allocation strategy, read the full one-pager or catch up on the latest Q1 2025 earnings presentation with CEO Mikael Skov. Link: https://www.inderes.dk/videos/hafnia-presentation-of-q1-2025
Disclaimer: HC Andersen Capital receives payment from Hafnia for a DigitalIR/corporate visibility subscription agreement / Philip Coombes, 16 May 2025 10:25.
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