Core Insights - The company reported an increase in rental income and EPRA earnings, indicating positive operational performance [3] - The fair value of the property portfolio slightly decreased, while the debt ratio improved, reflecting a stronger balance sheet [3] Operating Results - Rental income reached €13.4 million, a 2.9% increase from €13.1 million at the end of 2023 [3] - EPRA earnings were €9.4 million, up by 2.2% compared to €9.2 million at the end of 2023 [3] - EPRA earnings per share increased to €1.43 from €1.40 at the end of 2023 [3] - The net result improved to €9.0 million, a significant recovery from a loss of €6.0 million at the end of 2023 [3] Balance Sheet Information - The fair value of the property portfolio was €747.0 million, slightly down from €748.6 million at the end of September 2024 [3] - The debt ratio (EPRA LTV) decreased to 40.8%, down from 42.1% at the end of September 2024 [3] - Net asset value (EPRA NTA) per share increased to €67.24 from €65.80 at the end of September 2024 [3] Additional Developments - The first charging stations in the French portfolio have commenced operations, indicating expansion into new services [2]

Group 1 - Ardmore Shipping Corporation operates 26 vessels globally, focusing on product and chemical tanker operations [1] - The company recently released its Q4-2024 and FY-2024 earnings reports, indicating significant financial performance [1]

Ardmore Shipping Corporation Fourth Quarter and Full Year 2024 & Investor Day 2025 Factors that might cause or contribute to such a discrepancy include but are not limited to: failure of applicable assumptions to be met relating to potential increases in EPS and cashflow from any rate increases and other related matters; economic strength and market conditions; fluctuations in spot and charter rates; changes in demand for and the supply of tanker vessel capacity; the levels of demand for the Company's vesse ...

Ardmore Shipping (ASC) Q4 2024 Earnings Call February 13, 2025 12:00 PM ET Company Participants Curtis Mc Williams - Chair of the BoardGernot Ruppelt - Director & CEOBart Kelleher - President, CFO & DirectorOmar Nokta - Managing DirectorBenjamin Nolan - Managing Director Conference Call Participants None - Analyst Curtis Mc Williams behalf of the Ardmore Board and its senior management team, let me welcome you all to our annual Investor Day Luncheon. Last year in my opening remarks, some of you may remember ...

Core Viewpoint - Ardmore Shipping (ASC) reported quarterly earnings of $0.25 per share, exceeding the Zacks Consensus Estimate of $0.21 per share, but down from $0.63 per share a year ago, indicating a 19.05% earnings surprise [1][2] Financial Performance - The company achieved revenues of $49.27 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.94%, but down from $65.71 million year-over-year [2] - Over the last four quarters, Ardmore Shipping has consistently surpassed consensus EPS estimates [2] Stock Performance and Outlook - Ardmore Shipping shares have declined approximately 5% since the beginning of the year, contrasting with the S&P 500's gain of 2.9% [3] - The company's earnings outlook is currently unfavorable, leading to a Zacks Rank 5 (Strong Sell), suggesting expected underperformance in the near future [6] Future Earnings Expectations - The current consensus EPS estimate for the upcoming quarter is $0.21 on revenues of $43.04 million, and for the current fiscal year, it is $1.05 on revenues of $200.1 million [7] Industry Context - The Transportation - Shipping industry is currently ranked in the bottom 8% of over 250 Zacks industries, indicating potential challenges for stocks within this sector [8]

● Reported Adjusted earnings of $10.3 million for the three months ended December 31, 2024, or $0.25 Adjusted earnings per basic share and diluted share, compared to Adjusted earnings of $26.1 million, or $0.63 Adjusted earnings per basic share and diluted share for the three months ended December 31, 2023. (See reconciliation of net income to Adjusted earnings in the Non-GAAP Measures section.) ● Reported Adjusted earnings of $119.5 million for the year ended December 31, 2024, or $2.87 Adjusted earnings p ...

Core Insights - Ardmore Shipping Corporation reported its financial results for the three and twelve months ended December 31, 2024, highlighting a focus on performance optimization and financial strength [1][3][4] Financial Performance - The company reported adjusted earnings of $10.3 million for Q4 2024, down from $26.1 million in Q4 2023, resulting in adjusted earnings per share of $0.25 compared to $0.63 [8][17] - For the full year 2024, adjusted earnings were $119.5 million, an increase from $113.4 million in 2023, with adjusted earnings per share of $2.87 compared to $2.76 [8][18] - Revenue for Q4 2024 was $82.0 million, a decrease of $16.9 million from $98.9 million in Q4 2023 [19] Fleet and Operations - As of December 31, 2024, Ardmore operated a fleet of 26 vessels, including 20 MR tankers and six Eco-Design IMO 2 product/chemical tankers [6][10] - The average daily TCE rate for MR Eco-Design tankers was $22,663 in Q4 2024, with an expected increase to $23,400 in Q1 2025 [7][9] - The company had no drydocking days in Q4 2024 but is scheduled for 174 drydocking days in Q1 2025 [11] Capital Allocation and Shareholder Returns - Ardmore continues to prioritize capital allocation for long-term value creation, including investments in vessels and returning capital to shareholders through dividends and share repurchases [4][12][13] - A cash dividend of $0.08 per common share was declared for Q4 2024, to be paid on March 14, 2025 [12] - In December 2024, the company repurchased 1.56 million shares, approximately 4% of its outstanding common stock, at a total cost of $17.9 million [13] Market Outlook - The company anticipates steady growth in demand for refined oil products and biofuels, supporting product tanker demand as the MR fleet ages [5] - Geopolitical instability, including the Russia-Ukraine conflict and tensions in the Middle East, has increased spot tanker rates and highlighted the importance of cargo flexibility [15][16] Environmental and Efficiency Metrics - Ardmore is committed to reducing CO2 emissions, reporting a slight increase in emissions to 422,083 metric tons for the year ended December 31, 2024, compared to 418,022 metric tons in 2023 [55] - The fleet's Annual Efficiency Ratio (AER) increased from 6.05g/tm to 6.13g/tm, indicating a need for continued improvements in operational efficiency [55]

Core Viewpoint - Ardmore Shipping Corporation (ASC) is expected to report a significant decline in earnings and revenues for the fourth quarter of 2024, reflecting challenges in the tanker market and overall economic conditions [1][2][4]. Earnings Estimates - The Zacks Consensus Estimate for ASC's earnings has been revised downward by 46.2% over the past 60 days to 21 cents per share [2]. - Revenue estimates for the upcoming quarter are projected at $53.9 million, indicating a decline of 17.9% compared to the previous year [2]. Estimate Trends - The earnings estimate trend shows a consistent downward revision over the past 60 days, with the current estimate of 0.21 compared to 0.39 two months ago, reflecting a decrease of 46.15% [3]. - The average earnings surprise for ASC over the last four quarters has been 5.2%, although the current model does not predict an earnings beat for this quarter [3][6]. Market Conditions - The tanker market is currently facing bearish conditions, with low tanker rates due to oversupply and subdued demand, which has negatively impacted shipping rates [4]. - Time Charter Equivalent (TCE) rates are expected to decline due to unfavorable spot rates, while rising oil prices have increased operational costs by 5.2% during the October-December period [5]. Stock Performance - Ardmore Shipping's stock has experienced a significant decline of 40.3% over the past six months, underperforming compared to its industry peers [8].

Group 1 - The Ordinary General Meeting of Shareholders of Ascencio SA on 31 January 2025 approved all proposed resolutions, focusing on the financial statements for the year ending 30 September 2024 [1] - A total of 1,893,843 shares, representing 29% of the total shares, were represented at the meeting [1] - The meeting approved a gross dividend distribution of EUR 4.30 per share [2] Group 2 - The meeting granted discharge to the sole statutory director and the Statutory Auditor, SRL Deloitte, for their performance [2] - The compensation report and provisions related to change of control were also approved by separate vote [2] - Deloitte's resignation was noted due to reaching the maximum term of consecutive mandate, and KPMG was appointed as the new statutory auditor [3]

Company Overview - Ardmore Shipping Corporation will host its 2025 Investor Day on February 13, 2025, at 12:00 P.M. Eastern Time in New York City [2] - The company operates a fleet of MR product and chemical tankers ranging from 25,000 to 50,000 deadweight tonnes, providing seaborne transportation of petroleum products and chemicals worldwide [5] Strategic Focus - The core strategy of Ardmore is to develop a modern, high-quality fleet of product and chemical tankers, build long-term commercial relationships, and maintain a cost advantage in assets and operations [6] - Ardmore's Energy Transition Plan focuses on transition technologies, projects, and sustainable non-fossil fuel cargos, extending its strategy to enhance operational efficiency and investment analysis [7] Market Insights - The senior management team will provide updates on product and chemical tanker markets, supply/demand fundamentals, and the impact of geopolitical volatility on trade routes and vessel demand during the Investor Day [3] - The event will also include a presentation of the company's 4Q 2024 financial results, offering insights into its financial performance [1]