Group 1 - CBL International Limited, the listing vehicle of Banle Group, is a leading marine fuel logistic company in the Asia-Pacific region [1] - The company will participate in the Lytham Partners Spring 2025 Investor Conference on May 29, 2025, with a webcasted fireside chat and one-on-one meetings with investors [1][2] - CBL International Limited was established in 2015 and provides a one-stop solution for vessel refueling, facilitating operations in over 60 major ports globally [4] Group 2 - The company actively promotes the use of sustainable fuels and has received ISCC EU and ISCC Plus certifications [4] - The webcast presentation will be accessible at 12:30 pm Eastern Time on May 29, 2025, and will be available for replay after the event [2] - Management will be available for virtual one-on-one meetings throughout the event, with arrangements possible through Lytham Partners [3]

Financial Data and Key Metrics Changes - Total sales volume grew by 38.1%, while revenue increased by 35.9% to USD 592.5 million, driven by higher demand and operational expansion [18][19] - Cash balance rose by 8.3% to USD 8 million, and operational cash flow surged by 80.6%, reflecting improved efficiency and cash management [18] - Net income fell from USD 1.13 million in 2023 to a loss of USD 3.87 million in 2024, primarily due to reduced gross profit and increased expenses [21][22] Business Line Data and Key Metrics Changes - Gross profit declined by 25.5% from USD 7.21 million to USD 5.37 million, attributed to strategic pricing adjustments and increased operational costs [20] - Operating expenses increased significantly by 56.8% from USD 5.55 million to USD 8.7 million, driven by business expansion and ESG-related expenses [21] - Non-container liner customers increased to 45% of the customer base, while container liner customers decreased to 55% [29] Market Data and Key Metrics Changes - China accounted for 56.3% of total revenue, followed by Hong Kong at 30.3% and Malaysia at 9.8% [22] - Revenue growth was highest in emerging markets, with Europe, Japan, Vietnam, and Thailand seeing a 291% increase [22] - The global green marine fuel market is projected to grow at a CAGR of 50.4%, presenting significant opportunities for the company [40][60] Company Strategy and Development Direction - The company aims to expand its service network, strengthen its presence in Asian and European markets, and explore emerging markets [40] - Focus on biofuel adoption and exploring other sustainable fuels like LNG and methanol to meet evolving sustainability regulations [32][41] - The company is committed to enhancing its ESG initiatives, embedding sustainability into its core business strategy [33][36] Management's Comments on Operating Environment and Future Outlook - Despite geopolitical tensions and disruptions in maritime trade, the company demonstrated resilience with total volumes increasing by 2% [15] - Management expects to optimize unit costs and improve gross margins over time as market conditions stabilize [50] - The company plans to enhance operational efficiency through automation and IT systems to streamline operations [42] Other Important Information - CBL expanded its global service network to over 60 ports across 14 countries, achieving over 70% growth in port coverage since its IPO [26] - The company achieved significant progress in its biofuel supply initiatives, with biofuel sales volume surging over 600% year-over-year [31] - CBL's cash accounts for 12% of current assets, ensuring immediate liquidity for future growth [23] Q&A Session Summary Question: What drives the shift to a loss despite impressive revenue growth in 2024? - The net loss was influenced by reduced gross margin, higher operating costs, ESG-related expenses, and increased interest expenses [46][47] Question: Can you discuss the significant increase in operational expenses in 2024? - The increase was primarily due to business expansion, biofuel operations, and enhanced ESG expenses [45][48] Question: How does the company assess its service network expansion and customer mix? - The service network expanded from 36 ports to over 60, diversifying the customer base to include bulk carriers and tankers [54][56] Question: How do you expect biofuels to develop in 2025? - Biofuel sales surged over 600% in 2024, and the company sees sustainable fuel as a focus point moving forward [60] Question: How does CBL's marketing emphasize its unique value proposition? - CBL's competitive advantage lies in its extensive global supply network, providing one-stop refueling solutions and ensuring service quality [62][63] Question: How does the company view ESG market development? - The rising demand for green fuels is seen as an opportunity, with the company expanding its biofuel supply network and exploring other sustainable fuels [66][67] Question: What are your sales volume and gross profit margin targets for 2025? - The company aims to increase sales volume and recover gross profit margins through network strengthening and sustainable fuel adoption [78][79] Question: What are the uses of proceeds from recent capital market transactions? - Proceeds will support network expansion, biofuel business development, and repayment of indebtedness [82][85] Question: How do you plan to allocate funds to sustain growth momentum? - The company will prioritize network expansion, biofuel development, and operational automation to enhance liquidity and support growth [88][91]

Financial Data and Key Metrics Changes - Total sales volume grew by 38.1%, while revenue increased by 35.9% to USD 592.5 million, driven by higher demand and operational expansion [18][19] - Cash balance rose by 8.3% to USD 8 million, and operational cash flow surged by 80.6%, reflecting improved efficiency and cash management [18] - Net income fell from USD 1.13 million in 2023 to a loss of USD 3.87 million in 2024, primarily due to reduced gross profit and increased expenses [21][22] Business Line Data and Key Metrics Changes - Gross profit declined by 25.5% from USD 7.21 million to USD 5.37 million, influenced by strategic pricing adjustments and increased operational costs [20] - Operating expenses increased significantly by 56.8% from USD 5.55 million to USD 8.7 million, attributed to business expansion and ESG-related expenses [21] - Non-container liner customers increased to 45% of the customer base, while container liner customers decreased to 55% [29] Market Data and Key Metrics Changes - China accounted for 56.3% of total revenue, followed by Hong Kong at 30.3% and Malaysia at 9.8% [22] - Revenue growth was highest in emerging markets, with Europe, Japan, Vietnam, and Thailand seeing a 291% increase [22] - The global green marine fuel market is projected to grow at a CAGR of 50.4%, presenting significant opportunities for the company [40][60] Company Strategy and Development Direction - The company aims to expand its service network, strengthen its presence in Asian and European markets, and explore emerging markets [40] - Focus on biofuel adoption and exploring other sustainable fuels like LNG and methanol to meet evolving sustainability regulations [32][41] - The company is committed to enhancing its ESG initiatives, embedding these principles into its core business strategy [33][36] Management's Comments on Operating Environment and Future Outlook - Despite geopolitical tensions and disruptions in maritime trade, the company demonstrated resilience with total volumes increasing by 2% [15] - Management expects to optimize unit costs and improve gross margins over time as market conditions stabilize [50] - The company plans to enhance operational efficiency through automation and IT systems to streamline operations [42] Other Important Information - CBL expanded its global service network, achieving over 70% growth in port coverage from 36 ports to more than 60 ports across 14 countries [26] - The company achieved significant progress in its biofuel supply initiatives, with biofuel sales volume surging over 600% year-over-year [31][60] - CBL's cash position and financial flexibility are strong, enabling sustainable growth and supporting business expansions [23][24] Q&A Session Summary Question: What drives the shift to a loss despite revenue growth? - The net loss was influenced by reduced gross margin, higher operating costs, ESG-related expenses, and increased interest expenses [46][47] Question: What factors caused the significant increase in operational expenses? - The increase was primarily due to business expansion, biofuel operations, and enhanced ESG expenses [45][48] Question: Can you discuss service network expansion and customer mix? - The service network expanded from 36 ports to over 60 ports, diversifying the customer base to include bulk carriers and tankers [54][56] Question: How do you expect biofuels to develop in 2025? - Biofuel sales surged over 600% in 2024, and the company sees sustainable fuel as a focus point moving forward [59][60] Question: How does CBL's marketing emphasize its unique value proposition? - CBL's competitive advantage lies in its extensive global supply network, providing one-stop refueling solutions and ensuring service quality [62][63] Question: How do you view the ESG market development? - The rising demand for green fuels presents opportunities, and the company is expanding its biofuel supply network while exploring other sustainable fuels [65][66] Question: What are your sales volume and gross profit margin targets for 2025? - The company aims to increase sales volume and recover gross profit margins through network strengthening and sustainable fuel adoption [78][79] Question: What are the uses of proceeds from recent capital market transactions? - Proceeds will support network expansion, biofuel business development, and repayment of indebtedness [82][85] Question: How do you plan to allocate funds to sustain growth momentum? - The company will prioritize network expansion, biofuel development, and operational automation to enhance liquidity and support growth [88][91]

Core Viewpoint - CBL International Limited reported significant revenue growth in 2024 despite facing a net loss, driven by a volume-driven growth strategy and operational expansion in a challenging market environment [2][3][12]. Financial Performance Overview - Consolidated revenue for 2024 was $592.52 million, a 35.9% increase from $435.90 million in 2023, primarily due to a 38.1% rise in sales volume [2]. - The company experienced a net loss of $3.87 million in 2024, down from a net income of $1.13 million in 2023, attributed to a 25.5% decrease in gross profit and a 56.8% increase in operating expenses [3][4]. - Earnings per share (EPS) decreased to $(0.136) in 2024 from $0.045 in 2023, while cash and cash equivalents increased by 8.3% to $8.02 million [5]. Business Expansion - CBL expanded its service network from 36 ports at IPO in March 2023 to over 60 ports by the end of 2024, covering regions including Asia Pacific, Europe, Africa, and Central America [6]. - New ports added included Mauritius, Panama, and India, enhancing global reach and servicing nine of the world's top 12 container shipping lines [7]. - Customer diversification was prioritized, with a decrease in sales concentration among the top five customers in fiscal year 2024 [8]. Sustainability Initiatives - Biofuel sales surged by 628.8% and volume by 603.0%, with the introduction of B24 biofuel reducing greenhouse gas emissions by 20% [9]. - The company secured ISCC EU and ISCC Plus certifications, aligning with global trends towards greener shipping solutions [9]. Strategic Enhancements - CBL improved IT systems for efficiency, strengthened credit risk management, and expanded funding sources through capital markets [10][11]. - The management remains optimistic about future growth, focusing on expanding market presence, particularly in biofuels, and enhancing the global supply network [12][14].

Financial Performance - CBL International Limited reported consolidated revenue of $592.52 million for the year ended December 31, 2024, a 35.9% increase from $435.90 million in 2023[3] - The company experienced a net loss of $3.87 million in 2024, compared to a net income of $1.13 million in 2023, primarily due to a 25.5% decrease in gross profit[4] - Operating expenses rose by 56.8% to $8.70 million in 2024 from $5.55 million in 2023, contributing to the net loss[4] Cash Position - Cash and cash equivalents increased by 8.3% to $8.02 million as of December 31, 2024, up from $7.40 million in 2023[7] Business Expansion - CBL expanded its service network from 36 ports at the time of its IPO to over 60 ports by year-end 2024, enhancing its global reach[8] - Biofuel sales surged by 628.8% and volume increased by 603.0%, aligning with global trends towards greener shipping solutions[11] Operational Improvements - The company strengthened its IT systems for improved efficiency and expanded funding sources through capital markets[12] Future Outlook - CBL's management remains optimistic about future growth, focusing on expanding market presence and enhancing its global supply network[15] - CBL aims to secure long-term partnerships and strengthen its market position as global trade stabilizes and profitability improves[14] Revenue Composition - The share of non-container liners in total revenue increased, while sales concentration among the top five customers declined in fiscal year 2024[10]

Corporate Governance - The audit committee held a total of 5 meetings in 2024, with all independent directors attending all meetings[262][263]. - The compensation committee conducted 4 meetings in 2024, with full attendance from all independent directors[266][267]. - The nominating and corporate governance committee also held 4 meetings in 2024, with all independent directors present[270][271]. - The company is classified as a "foreign private issuer" and may rely on home country governance practices instead of Nasdaq corporate governance standards[272][274]. - The Company adopted a Clawback Policy on November 6, 2023, to recoup executive compensation in case of accounting restatements due to noncompliance with financial reporting requirements[284]. Employee and Shareholder Information - As of December 31, 2024, the company had 39 employees across various countries, including Hong Kong, Malaysia, Singapore, South Korea, China, and Ireland[279]. - The company has a total of 27,500,000 ordinary shares issued and outstanding, with beneficial ownership determined according to SEC rules[281]. - CBL (Asia) Limited holds a significant ownership interest of 47.9% in the Company, allowing it to exercise approximately 47.9% of the total voting power[283]. - Straits Energy Resources Berhad owns 29.4% of the Company, indicating a strong shareholder base[283]. Financial Risks - The Company is not exposed to significant foreign currency risk as the majority of operations are denominated in U.S. dollars[354]. - Interest rate risk is present due to a receivable purchase facility from a bank, with interest costs fixed upon drawdown for short-term advances[355]. - The Company mitigates market price risk through contractual agreements that incorporate a pass-through mechanism for price fluctuations[356]. - Inflation does not materially affect the Company's business or operational results[357]. - Seasonality does not materially impact the Company's business or operational results[358]. Compensation Practices - The company has not adopted any equity compensation plans and had no outstanding equity awards as of December 31, 2024[277][278].

Group 1 - CBL International Limited (NASDAQ: BANL), a subsidiary of Banle Group, will submit its 2024 Form 20-F annual report on April 16, 2025, and hold a live webcast on April 17, 2025, to discuss performance, strategic initiatives, and market developments [1][2] - Banle Group is a leading marine fuel logistics supplier in the Asia-Pacific region, operating in over 60 ports globally, including major hubs in Europe, Asia, and the Americas [2] - The group holds ISCC EU and ISCC Plus certifications for sustainable fuels, indicating its commitment to sustainability in operations [2]

Company Overview - CBL International Limited is the listing vehicle of Banle Group, a reputable marine fuel logistic company established in 2015, based in the Asia-Pacific region [3] - The company provides a one-stop solution for vessel refueling, known as bunkering, and operates in over 60 major ports across various countries including Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, the Philippines, Singapore, Taiwan, Thailand, Turkey, and Vietnam as of September 12, 2024 [3] - CBL actively promotes the use of sustainable fuels and has received ISCC EU and ISCC Plus certifications [3] Upcoming Events - CBL will file its Annual Report on Form 20-F for the year ended December 31, 2024, on April 16, 2025 [1] - A webcast will be hosted on April 17, 2025, at 10:00 am HKT, where company management will discuss business strategies and recent developments [2] - Key management attending the webcast includes Dr. Teck Lim Chia (Chairman & CEO), Mr. Nicholas Fung (Assistant CFO), and Ms. Venus Zhao (Investor Relations & Public Relations Director) [2]

Group 1 - CBL International Limited (NASDAQ: BANL) will submit its full-year performance report for 2024 on April 16, 2025, and hold an online performance seminar on April 17, 2025, at 10 AM HKT (10 PM EDT on April 16) [1] - The management team will interpret the business strategy and latest developments during the seminar [1] - Key attendees include Dr. William Hsieh, Chairman and CEO, Mr. Feng Zhijun, Assistant Chief Financial Officer, and Ms. Zhao Hui, Director of Investor Relations and Public Relations [2] Group 2 - CBL International Limited is a leading marine fuel supplier in the Asia-Pacific region, covering over 60 ports globally [2] - The company actively promotes sustainable fuels and has obtained ISCC EU and ISCC Plus certifications [2]

Company Overview - CBL International Limited is the listing vehicle of Banle Group, a reputable marine fuel logistic company established in 2015, based in the Asia-Pacific region [3] - The company provides a one-stop solution for vessel refueling, known as bunkering, and operates in over 60 major ports across various countries including Belgium, China, India, Japan, and Singapore [3] Upcoming Events - CBL will file its Annual Report on Form 20-F for the year ended December 31, 2024, on April 16, 2025 [1] - A webcast will be hosted on April 17, 2025, where company management will discuss business strategies and recent developments [2] Sustainability Initiatives - The Group actively promotes the use of sustainable fuels and has received ISCC EU and ISCC Plus certifications [3]