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Golar LNG (GLNG) - 2021 Q3 - Earnings Call Presentation
2021-11-09 15:34
Financial Performance - Golar LNG's Q3 2021 total operating revenues increased by 13% year-over-year to $107 million[6,8] - Adjusted EBITDA increased by 30% year-over-year to $74 million[6,8] - Shipping TCE increased by 26% year-over-year to $49500[5,8] FLNG Hilli - FLNG Hilli achieved 100% uptime[5] - Meaningful earnings upside tied to Brent of around $13 million in Q4 21[13] - Agreed to increase 2022 production by 200000 tons[13] FLNG Gimi - FLNG Gimi construction is 75% technically complete[5,19] - FLNG Gimi annual Adjusted EBITDA is projected at $215 million (100% basis)[19] - FLNG Gimi Adjusted EBITDA backlog is $43 billion[19] Shipping - A 12-month charter was agreed at $100000 per day, increasing revenue backlog to $267 million[5] - Q4 2021 TCE is expected to be approximately $53500 per day based on current rates[29] Financing and Debt - Secured up to $682 million of new financing and refinancing facilities[6] - Total Golar cash balance in Q3 2021 was $203 million[6] - Golar's contractual debt decreased by 11% year-over-year[8]
Golar LNG (GLNG) - 2021 Q2 - Earnings Call Transcript
2021-08-09 19:10
Golar LNG Limited (NASDAQ:GLNG) Q2 2021 Earnings Conference Call August 9, 2021 10:00 AM ET Company Participants Karl Staubo - CEO Eduardo Maranhao - CFO Conference Call Participants Ben Nolan - Stifel Mike Webber - Webber Research James Yoon - Citi Randy Giveans - Jefferies Sean Morgan - Evercore Ken Hoexter - Bank of America Merrill Lynch Liam Burke - B. Riley FBR Operator Good day, and thank you for standing by. Welcome to the Golar LNG Limited Q2, 2021 Results Presentation Conference Call. Currently, al ...
Golar LNG (GLNG) - 2021 Q2 - Earnings Call Presentation
2021-08-09 16:22
Financial Highlights - Golar LNG reported a gain of $575 million from the closing of Hygo and GMLP transactions, leading to an increase in liquid assets by approximately $700 million[3] - The company's Q2 cash balance stood at $287 million[3] - Net income for Q2 2021 was $471 million, primarily driven by net income from discontinued operations and unrealized gain on Brent oil derivative[3, 6] - Adjusted EBITDA for Q2 2021 was $67 million[3] FLNG Operations - Hilli Episeyo achieved 100% uptime and offloaded its 59th cargo[3] - Increased capacity utilization for Hilli agreed for 2022, with an option for a sustained increase from 2023, potentially adding $113 million in adjusted EBITDA backlog at TTF forward curve or $373 million on current TTF price[3, 41] - Gimi construction is 72% technically complete, targeting sail-away in Q1 2023 and contract start-up in Q4 2023, with an adjusted annual EBITDA of $215 million (on 100% basis) and an adjusted EBITDA backlog of $4.3 billion[3, 23] Shipping Operations - Q2 TCE was $46700, including loss of hire proceeds[3] - A 5-year vessel charter was agreed, increasing shipping revenue backlog to $259 million[3] - The company anticipates Q3 2021 TFDE TCE to be around $47000 per day, with utilization expected to be around 98%[29]
Golar LNG (GLNG) - 2021 Q1 - Earnings Call Presentation
2021-05-20 18:43
Golar LNG MAY 20, 2021 FIRST QUARTER 2021 RESULTS © Golar LNG Limited Forward Looking Statements | --- | --- | --- | --- | --- | |------------------------------------------------------------|-------------------------------------------------------|-----------------|----------------------------------------------------------------|------------------------------------------------------------------| | | | | | | | This press release contains forward-looking | statements are: our inability and that of | our | oper ...
Golar LNG (GLNG) - 2021 Q1 - Earnings Call Transcript
2021-05-20 18:13
Golar LNG Limited (NASDAQ:GLNG) Q1 2021 Results Conference Call May 20, 2021 10:00 AM ET Company Participants | --- | |-------------------------------------------------| | | | | | Karl Staubo - CEO Eduardo Maranhão - CFO | | Conference Call Participants | | Randy Giveans - Jefferies | | James Yoon - Citi Mike Webber - Webber Research | | Omar Nokta - Clarksons | | | | Sean Morgan - Evercore | | Ben Nolan - Stifel | | Greg Lewis - BTIG Liam Burke - B. Riley | Operator Good day and thank you for standing by. ...
Golar LNG (GLNG) - 2020 Q4 - Annual Report
2021-04-22 10:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...
Golar LNG (GLNG) - 2020 Q3 - Earnings Call Transcript
2020-11-30 18:54
Golar LNG Limited (NASDAQ:GLNG) Q3 2020 Earnings Conference Call November 20, 2020 10:00 AM ET Company Participants Iain Ross - CEO Karl Fredrik Staubo - CFO Eduardo Maranhão - CFO, Hygo Tor Olav Trøim - Chairman of Golar LNG and Hygo Stuart Buchanan - Head, IR Conference Call Participants Ben Nolan - Stifel Nicolaus Mike Webber - Webber Research Sean Morgan - Evercore ISI Randy Giveans - Jefferies Craig Shere - Tuohy Brothers Ken Hoexter - Bank of America Merrill Lynch Greg Lewis - BTIG Operator Ladies and ...
Golar LNG (GLNG) - 2020 Q3 - Earnings Call Presentation
2020-11-30 14:23
Golar LNG © Golar LNG Limited Third Quarter 2020 Results November 30, 2020 Solid Results, Fundamentals Continue to Improve Forward Looking Statements This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management's current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occu ...
Golar LNG (GLNG) - 2020 Q2 - Earnings Call Transcript
2020-08-13 22:07
Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA of $67 million on revenue of $102 million for Q2 2020, driven by solid FLNG performance and better seasonal results in shipping [3][5] - Time charter earnings increased to $45,000 per day, representing an 88% rise over the same period last year [5] - The company experienced a net loss of $156 million, primarily due to a $135.9 million impairment on shares in Golar Partners [11][12] Business Line Data and Key Metrics Changes - FLNG operations maintained 100% commercial uptime with a stable EBITDA generation of $41 million [12] - Shipping revenues were $48 million, down due to typical seasonality but improved compared to Q2 2019 [12] - Golar Power received full capacity payments equating to $19 million in revenue, less operating costs [5] Market Data and Key Metrics Changes - The second quarter saw a decline in TFDE spot rates to around $30,000 per day, attributed to seasonal LNG demand decline and lower global economic activity due to COVID-19 [23] - The company expects Q3 TCE to be $35,000 per day, with lower LNG prices stimulating demand as a cleaner fuel alternative [26] Company Strategy and Development Direction - The company is focusing on derisking shipping and building backlog while progressing discussions for potential expansion and extension of FLNG operations [43] - Golar Power is advancing small-scale distribution projects in Brazil, with a significant MOU signed with Norsk Hydro to deliver gas to the Alunorte Alumina refinery [33][34] - The company aims to simplify its structure into four stand-alone legs: FSRU, FLNG, shipping, and Golar Power [56] Management's Comments on Operating Environment and Future Outlook - Management noted that the pace of conversations regarding FLNG projects remains steady despite market turmoil, with ongoing dialogues with potential customers [68] - The company anticipates that lower LNG prices will lead to increased demand for liquefaction and shipping in the future [27] - Management expressed confidence in achieving sufficient liquidity and cash flow for the remainder of 2020 through refinancing and operational cash generation [21] Other Important Information - The company has committed to refinancing a $150 million bilateral loan due in November 2020 and a $30 million outstanding margin loan due in August/September 2020 [18] - The company is exploring international opportunities for replicating its Brazilian model, particularly in Southeast Asia and West Africa [59] Q&A Session Summary Question: What are the strategic options for the company? - Management indicated that the Board has approved the examination of a range of strategic options, with a focus on simplifying the group into four stand-alone legs [54][56] Question: How does the company plan to replicate its success in Brazil in other regions? - Management highlighted the importance of partnering with experienced local players and identified Southeast Asia and West Africa as potential areas for development [59] Question: What are the CapEx requirements and cash flow generation potential for Golar Power? - Management stated that detailed CapEx figures will be announced upon taking FID on certain projects, but emphasized that merchant power generation will not require additional CapEx [64][65] Question: What is the status of FLNG projects and discussions with potential customers? - Management described the pace of conversations as steady, with ongoing dialogues despite low LNG prices, and expressed confidence in the competitiveness of their liquefaction projects [68][70] Question: What are the hurdles for converting MOUs into contracts? - Management noted that the final investment decision for Barcarena is contingent on obtaining necessary permits and regulatory approvals, while small-scale contracts are progressing with various customers [80]
Golar LNG (GLNG) - 2020 Q2 - Earnings Call Presentation
2020-08-13 17:40
Golar LNG © Golar LNG Limited Second Quarter 2020 Results August 13, 2020 Delivering on our commitments Forward Looking Statements This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management's current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are ...