Tortola, British Virgin Islands--(Newsfile Corp. - December 10, 2025) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQB: SROYF) (the "Company" or "Sailfish") is pleased to announce that its Board of Directors has declared the Company's fourth quarterly cash dividend for 2025 in the amount of US$0.0125 per common share that will be payable on July 15, 2026, to Sailfish shareholders of record as of the close of business on December 31, 2025. The declaration, timing, amount, and payment of future dividends will be ...

Financial Data and Key Metrics Changes - In Q3, the company reported a TCE income of $247 million, with an adjusted EBITDA of $150.5 million, leading to a net profit of $91.5 million or $18 per share [15][16] - The company has a dividend payout ratio of 80% of net profit, resulting in a distribution of $73.2 million or $14.7 per share for this quarter [16][24] - The company sold four older MR vessels, with three recognized in Q4 and one in the current quarter [21] Business Line Data and Key Metrics Changes - The company operates a fleet of 126 vessels, including 117 owned and nine long-term time chartered vessels, with a focus on product and chemical tankers [6][7] - The company has eight commercial pools managing over 200 ships globally, enhancing operational scale and efficiency [7] Market Data and Key Metrics Changes - The company has booked 71% of its bookings for Q4 as of mid-November, indicating an improvement in rates, with current bookings around $26,040-$25,600 [29] - The company experienced 230 extra dry docking days in Q3 due to a significant number of ships requiring maintenance, which is expected to taper off in the current quarter [30] Company Strategy and Development Direction - The company is focused on strategic growth through acquisitions, joint ventures, and fleet modernization, including a recent agreement to purchase 14.1 million shares of TORM [10][22] - The company aims to maintain a low-cost operation with a strong focus on shareholder distributions, linking its balance sheet strength to its dividend policy [8][9] Management's Comments on Operating Environment and Future Outlook - Management noted that Q3 is typically a weaker quarter for product tankers, but this year saw a strong market due to increased ton miles and tighter supply from sanctioned vessels [15] - The management expressed optimism about the winter market, citing a tight tonnage situation and refinery closures in Europe leading to increased demand for their services [49][50] Other Important Information - The company is actively monitoring geopolitical developments, including the situation in the Red Sea and the impact of Russian oil transportation dynamics on the market [39][43] - The company is cautious about the potential return of Venezuelan oil exports and its implications for the market [45] Q&A Session Summary Question: What is the status of the TORM share purchase? - The company is awaiting the appointment of a new independent board chair at TORM to finalize the transaction [22][28] Question: How does the company view the impact of the Red Sea reopening? - Management believes the reopening may not significantly impact the market, as the dynamics of traffic and supply have already adjusted [40][41] Question: Why has the order book fallen in Q3? - The decline in the order book is attributed to a shift of vessels into dirty trades rather than an increase in scrapping [51] Question: What is the company's strategy regarding fleet renewal? - The company is focusing on extending the life of existing vessels rather than ordering new builds at high prices, while remaining open to opportunities for fleet purchases or M&A [54][55]

Financial Data and Key Metrics Changes - In Q3, the company reported a TCE income of $247 million, with an adjusted EBITDA of $150.5 million, leading to a net profit of $91.5 million or $18 per share [16][17] - The company has a dividend payout ratio of 80% of net profit, resulting in a distribution of $73.2 million or $14.7 per share [17][18] - The company has paid dividends consistently over the last 15 quarters, with a projected dividend of $1.16 per share for 2024 [9][17] Business Line Data and Key Metrics Changes - The company operates a fleet of 126 vessels, including 117 owned and nine long-term time chartered vessels, with a focus on product and chemical tankers [6][7] - The company has seen a strong market in Q3, contrary to typical seasonal trends, due to increased ton miles and tighter supply from sanctioned vessels [16] Market Data and Key Metrics Changes - As of mid-November, the company had booked 71% of its bookings for Q4, indicating an improvement in rates, with current bookings around $26,040-$25,600 [30][31] - The company experienced 230 extra dry docking days in Q3, impacting operations, but this is expected to taper off in the current quarter [31] Company Strategy and Development Direction - The company is focused on strategic growth through acquisitions, joint ventures, and fleet modernization, including a recent acquisition of 14.1 million shares in TORM [11][23] - The company aims to maintain a low-cost operation while ensuring strong shareholder distributions, with a clear dividend policy linked to the loan-to-value ratio [9][25] Management's Comments on Operating Environment and Future Outlook - Management noted that the geopolitical environment, including the reopening of the Red Sea, could impact market dynamics, but the overall sentiment may not significantly affect trading volumes [37][40] - The company anticipates a strong winter market, driven by refinery closures in Europe and increased demand from the US, leading to a tight tonnage situation [50][51] Other Important Information - The company has a strong focus on innovation and has established a joint venture in the bunkering space with Cargill [8] - The company is actively managing its fleet, with a strategy to extend the life of vessels rather than ordering new builds in a high-price environment [55][56] Q&A Session Summary Question: Why has the order book fallen in Q3? Is scrapping increasing? - Management indicated that the order book has fallen due to a shift in vessels going into dirty trades, rather than an increase in scrapping [52][54] Question: Can you share thoughts on fleet renewal schemes? - The company is focusing on life extension of existing vessels and is open to various opportunities, including resales and M&A, rather than committing to new builds at high prices [55][56]

Core Viewpoint - Sainsbury's share price has broken free from its previous ceiling, showing potential for further growth following positive interim results [2] Financial Performance - Sainsbury's revenue increased by 2.8% to £17.58 billion, with retail sales (excluding fuel) up 4.8% [3] - Grocery revenue grew by 5.3% to £12.79 billion, contributing to the highest market share in five years [3] - General Merchandise & Clothing (GMC) sales rose by 3.3% to £804 million, driven by favorable weather and strong performance from the Tu clothing line [4] - Financial services revenue surged by 14.0% to £65 million, while Argos sales increased by 2.3% to £1.98 billion [5] Profitability - Underlying operating profit rose by 6.8% to £506 million, with the operating profit margin increasing by 11 basis points to 2.88% [6] - Underlying diluted earnings per share (EPS) jumped 12.1% to 10.2p, supported by share buybacks [6] Future Outlook - Management has upgraded its outlook, expecting retail underlying operating profit to exceed £1.00 billion [7] - A special dividend of 11.0p per share was declared, alongside a 5.1% increase in the interim dividend to 4.1p [8] - The company plans to utilize £150 million from bank sale disposals for share buybacks, with an additional £300 million buyback expected next year [9][8] Market Position - Sainsbury's has managed to grow both volume and value market shares despite raising grocery prices, indicating successful customer engagement [10] - The company is focusing on retrofitting stores and reallocating space towards higher-profitability food areas, which is expected to enhance future performance [11]

Core Insights - ADNOC Gas reported a record net income of $1.34 billion for Q3 2025, marking an 8% increase year-over-year, with year-to-date net income reaching $3.99 billion, a 10% increase compared to the previous year [1][5][6] Financial Performance - Revenues for Q3 2025 were $5.9 billion, a 6% decrease from $6.2 billion in Q3 2024, while year-to-date revenue was $17.9 billion, down 2% from $18.3 billion in the same period last year [2] - The domestic gas business achieved EBITDA of $914 million for Q3 2025, reflecting a 26% increase compared to the same quarter last year [2] Sales and Economic Context - Domestic gas sales volumes grew by 4% in the first nine months of 2025, driven by the robust UAE economy and improved margins from contract renegotiations [3] - The IMF forecasts UAE economic growth of 4.8% in 2025 and 5% in 2026, supporting the positive sales trend [3] Cash Flow and Dividends - ADNOC Gas maintains substantial operating cash flow, allowing for funding of capital projects and increased dividend payments without additional debt [4] - The company will initiate quarterly dividend distributions starting in Q3 2025, with an inaugural interim dividend of $896 million to be paid by December 12, 2025 [4] Dividend Policy - The Board of Directors approved a 5% annual increase in dividend payouts, extending this policy through to 2030 [5] - The CEO emphasized the company's resilience and adaptability, highlighting profitability growth despite lower oil prices [5][6]

Financial Data and Key Metrics Changes - The third quarter net revenue was $475.6 million, up 1.6% from the prior year's third quarter, with adjusted EBITDA of $190.9 million, up 4.5% [10] - The adjusted EBITDA margin was 40.1%, an increase of 110 basis points from the prior year [10] - The company generated $128.5 million in operating free cash flow, translating to $1.21 per share, bringing year-to-date cumulative free cash flow to $335.3 million, or $3.17 per share [10][11] Business Line Data and Key Metrics Changes - Las Vegas operations achieved a record third-quarter net revenue of $468.6 million, up almost 1% year-over-year, with adjusted EBITDA of $209.4 million, up 3.4% [9] - The hotel segment performed exceptionally well, generating near-record results despite renovations, with occupancy increasing across the portfolio [12] - The food and beverage segment achieved record revenue and near-record profitability, supported by higher cover counts [12] Market Data and Key Metrics Changes - The company reported continued strength in carded slot play across its database, including regional and national segments, with robust visitation and net theoretical win [11] - The local market is expected to add more than 6,000 new households within a three-mile radius of the Durango property over the next few years [9] Company Strategy and Development Direction - The company is focused on executing its development pipeline, including significant investments in Durango Casino Resort, Sunset Station, and Green Valley Ranch [11][17] - The next phase of the Durango Master Plan will expand the property significantly, adding new amenities to enhance guest experience and drive repeat visitation [8][9] - The company aims to maintain operating discipline and enhance shareholder returns through a balanced capital allocation strategy [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength and resilience of the business, despite ongoing construction disruptions [13][22] - The Las Vegas locals' market is viewed as fundamentally different from the Strip, with a loyal customer base driving consistent revenue [42] - The company anticipates continued stability in its core slot and table games business, with a return to normal hold in sports betting [12][32] Other Important Information - The company approved an increase in regular cash quarterly dividends to $0.26 per Class A share, reflecting confidence in long-term earnings power [20] - The total project cost for the Durango expansion is estimated at approximately $385 million, with construction expected to begin in January [8][9] Q&A Session Summary Question: Can you talk about the rationale for the Durango expansion? - Management highlighted the strong performance of Durango and the lack of competition in the area, expecting similar returns on the expansion as the initial build [27][28] Question: What was the impact of sports betting hold this quarter? - Management noted a return to normal hold after an unfavorable hold last year, estimating a disruption impact of about $2.5 to $3 million for the quarter [32] Question: How did the hotel segment perform compared to the Strip? - The hotel segment showed resilience, with occupancy up and RevPAR only slightly down, outperforming the Strip by about 25% on an ADR basis [38] Question: What is the expected disruption from ongoing construction projects? - Management expects disruption to extend beyond 2025 into 2026, with estimated impacts of around $8 million for Q4 [32][94] Question: How is the tavern business performing? - The company has eight taverns under contract, with two operational and positive early performance indicators, attracting a younger customer base [96][97]

Core Insights - AS Tallink Grupp reported a 3.0% increase in passenger numbers in Q3 2025 compared to Q3 2024, carrying 1,766,335 passengers, while cargo units transported decreased by 9.8% to 60,306 [2][3] - The Group's unaudited consolidated revenue for Q3 2025 was EUR 233.1 million, slightly up from EUR 231.9 million in Q3 2024, with an EBITDA of EUR 68.9 million and a net profit of EUR 40.8 million [3][10] Revenue and Operational Performance - Revenue from route operations, the Group's core business, increased by EUR 1.3 million to EUR 194.9 million compared to Q3 2024, although the segment result decreased to EUR 46.5 million from EUR 48.1 million [4] - The Estonia-Finland route saw a 10.1% increase in passenger numbers, with revenue rising by EUR 8.6 million to EUR 95.4 million, while the segment result decreased by EUR 1.2 million to EUR 30.2 million [5] - The Finland-Sweden routes experienced a 1.4% decrease in passenger numbers, with revenue increasing by EUR 0.4 million to EUR 73.0 million, but the segment result fell by EUR 1.0 million to EUR 12.2 million [6] - The Estonia-Sweden routes saw a significant 23.5% decrease in passenger numbers, with revenue dropping by EUR 7.7 million to EUR 26.5 million, although the segment result increased by EUR 0.6 million to EUR 4.1 million [7] Financial Metrics - The Group's gross profit remained stable at EUR 67.2 million, with a slight increase in EBITDA to EUR 68.9 million compared to EUR 68.4 million in Q3 2024 [8] - Amortization and depreciation expenses decreased by EUR 1.3 million to EUR 23.0 million, influenced by the sale of two vessels [9] - Net finance costs declined by EUR 2.2 million year-on-year to EUR 4.9 million due to a reduced loan balance and lower interest rates [9] Investments and Financial Position - The Group's investments in Q3 2025 amounted to EUR 5.5 million, with a focus on vessel maintenance and IT system improvements [11][13] - As of the end of Q3 2025, net debt was EUR 432.7 million, down from EUR 459.7 million at the end of Q2 2025, resulting in a net debt to EBITDA ratio of 3.4 [14] - Cash and cash equivalents at the end of Q3 2025 were EUR 31.9 million, with a total liquidity buffer of EUR 131.9 million [15] Dividends - The Group's dividend policy allows for a minimum payment of EUR 0.05 per share, with a total dividend of EUR 0.06 per share approved for 2025, to be paid in two installments [17][18]

Core Thesis - LyondellBasell Industries N.V. (LYB) is currently facing a nuanced risk/reward scenario due to its debt covenants, which may force the company to suspend its historically reliable dividend if Net Debt/EBITDA exceeds 4.25x [2][4] Financial Metrics - As of October 15th, LYB's share price was $46.76, with trailing and forward P/E ratios of 104.96 and 12.99 respectively [1] - Current guidance suggests Q3 2025 EBITDA could reach approximately $800 million and Q4 2025 around $1 billion, which would increase Net Debt/EBITDA from 2.82x to roughly 3.7x by year-end [3] Dividend and Capital Management - Management is addressing covenant issues by cutting capital expenditures, but further softness in the chemicals market could pressure financial results [2] - If LYB's shares decline to around $30 or below, it could present a compelling long-term investment opportunity, potentially offering threefold returns if the chemicals cycle recovers [4] Market Sentiment and Monitoring - The market's near-term reaction will likely depend on upcoming EBITDA results and the company's ability to manage leverage proactively, making close monitoring essential [5] - Given the uncertainty surrounding chemical earnings, LYB may be more suited for watchlist monitoring rather than immediate purchase [3]

Core Viewpoint - Evolution Petroleum Corporation reported significant financial growth in fiscal Q4 2025, with net income increasing by 176% to $3.4 million and adjusted EBITDA rising by 7% to $8.6 million, despite a slight decline in revenues [1][12]. Financial & Operational Highlights - Average production for Q4 2025 was 7,198 barrels of oil equivalent per day (BOEPD), a year-over-year decrease of 0.15% [2][13]. - Total revenues for Q4 2025 were $21.1 million, down 1% from $21.2 million in Q4 2024, primarily due to lower realized oil and natural gas liquids prices [7][12]. - The company declared a cash dividend of $0.12 per share for Q1 fiscal 2026, marking its 48th consecutive quarterly dividend payment [1][22]. Subsequent Events - In August 2025, the company completed its largest minerals-only acquisition in the SCOOP/STACK area for approximately $17 million, adding around 5,500 net royalty acres and 420 net BOE per day [3]. Management Comments - The CEO highlighted fiscal 2025 as a defining year, with record production levels and a commitment to returning $16.3 million to shareholders [4]. - The company aims to continue acquiring cash-generating, low-decline assets while maintaining a focus on shareholder returns [5]. Production & Pricing - The average realized price for crude oil in Q4 2025 was $60.82 per barrel, down 20% from $76.49 in Q4 2024, while natural gas prices increased by 66% to $2.76 per MCF [13][14]. - Total production for Q4 2025 included approximately 2,319 BOPD of crude oil, 3,747 BOEPD of natural gas, and 1,132 BOEPD of natural gas liquids [13]. Balance Sheet, Liquidity, and Capital Spending - As of June 30, 2025, the company had cash and cash equivalents of $2.5 million and total liquidity of $30 million [19][20]. - The company invested $4.7 million in capital expenditures during Q4 2025 and paid $4.1 million in dividends [19]. Proved Reserves - As of June 30, 2025, total proved reserves were estimated at 27.1 million BOE, with significant contributions from various fields including TexMex and SCOOP/STACK [31].

Core Points - KBC Ancora reported a profit of EUR 315.4 million for the financial year 2024/2025, down from EUR 368.3 million in the previous year, translating to EUR 4.10 per share [2][5] - The company distributed a gross interim dividend of EUR 3.51 per share on June 5, 2025, and will not pay a final dividend [2][5] - The net asset value of KBC Ancora shares is 1.0066 times the price of KBC Group shares, with a net debt position of EUR 0.93 per share as of June 30, 2025 [6][7] Financial Results - Total income for the financial year was EUR 322.9 million, primarily from dividends received from KBC Group (EUR 321.7 million) and interest income (EUR 1.2 million) [5] - Total expenses amounted to EUR 7.5 million, consisting of operating costs (EUR 3.2 million) and financial expenses (EUR 4.3 million) [5] - In the second half of the financial year, KBC Ancora recorded a profit of EUR 241.5 million, or EUR 3.14 per share, compared to EUR 295.4 million in the same period the previous year [11] Balance Sheet and Assets - As of June 30, 2025, total assets stood at EUR 3.63 billion, an increase of EUR 29.3 million from the previous year [16] - The number of KBC Group shares held by KBC Ancora remained unchanged at 77,516,380, with a book value of EUR 46.44 per share [17] - The company’s debt decreased by EUR 15.8 million compared to the previous financial year, primarily due to repayments of a credit facility [18] Future Outlook - KBC Ancora anticipates costs within the cost-sharing agreement with Cera to be approximately EUR 2.5 million for the financial year 2025/2026 [19] - Total interest charges for the upcoming financial year are estimated at around EUR 4.1 million, with other operating costs likely to be about EUR 1.0 million [19] - The company plans to distribute an interim dividend of EUR 1.00 per share in November 2025, in line with its dividend policy [21]