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Flex LNG - Second Quarter 2025 Earnings Release
Prnewswire· 2025-08-20 05:07
Core Viewpoint - Flex LNG Ltd. reported its unaudited financial results for the second quarter of 2025, highlighting stable revenues and a solid financial position despite a soft spot market for LNG shipping [1][3]. Financial Performance - Second quarter revenues were $86 million, or $84 million excluding EUAs, with a Time Charter Equivalent (TCE) of approximately $72,000 per day, nearly unchanged from $84.7 million in the same quarter last year [3][4]. - Net income for the second quarter was $17.7 million, resulting in an earnings per share (EPS) of $0.33, compared to $18.7 million and $0.35 EPS in the first quarter [4]. - Adjusted EBITDA for the second quarter was $62.6 million, down from $65.6 million in the first quarter [4]. Operational Highlights - The company completed drydocking for Flex Aurora and Flex Resolute ahead of schedule, demonstrating effective management of off-hire periods [4][5]. - Flex Courageous was sold for $175 million under a sale and leaseback agreement, with a 10-year bareboat charter back [4][6]. Financing Activities - A new $180 million term loan facility was signed for Flex Constellation, with a 15.5-year tenor and an interest rate of SOFR plus 165 basis points [4][6]. - The company has a minimum charter backlog of 56 years, potentially extending to 85 years, which provides access to attractive financing opportunities [6]. Shareholder Returns - The Board authorized a share repurchase program of up to $15 million, valid through November 27, 2025 [4][7]. - A quarterly dividend of $0.75 per share was declared, payable on or about September 18, 2025, bringing the trailing twelve-month dividend to $3.00 per share [4][8].
Technip Energies Announces Launch of Share Buy-Back Program
Globenewswire· 2025-05-12 05:00
Core Viewpoint - Technip Energies has announced a share buy-back program of up to €45 million to fulfill obligations under equity compensation plans, with a maximum of 1.5 million shares to be acquired by December 31, 2025 [1][3]. Group 1: Share Buy-back Program Details - The program was approved by the Company's Board of Directors and will comply with the Market Abuse Regulation [2]. - The authorization allows the Company to repurchase up to 10% of its issued share capital over 18 months, with share prices ranging from the nominal value to 110% of the market price [3]. - As of April 30, 2025, the Company held 1,695,974 treasury shares, representing 0.95% of its issued share capital, for equity compensation obligations [4]. Group 2: Execution and Compliance - A broker has been appointed to execute the buy-back program, making independent decisions regarding the timing and volume of repurchases [5]. - The maximum price for repurchased shares will be based on the last independent trade or the highest current independent purchase bid on Euronext Paris [6]. - The actual timing, number, and value of shares repurchased will depend on market conditions and legal requirements, with the allocated €45 million excluding ancillary costs [7]. Group 3: Reporting and Transparency - The Company will issue press releases to disclose share repurchases and will publish transactions on its website [8].
Resolutions of the General Ordinary Shareholders Meeting of INVL Baltic Real Estate
Globenewswire· 2025-04-30 05:16
Group 1: Company Overview - The General Ordinary Shareholders Meeting of INVL Baltic Real Estate was held on April 30, 2025, to present various reports and recommendations [1][2][3]. Group 2: Financial Reports - The consolidated annual management report for 2024 was presented to shareholders, along with the independent auditor's report on the financial statements [1][2]. - The consolidated and stand-alone financial statements for 2024 were approved by the shareholders [5]. Group 3: Profit Distribution - The distributable profit at the end of the financial year was reported as €7,693,000, with €716,000 allocated for dividends, resulting in a dividend of €0.09 per share [6][7]. Group 4: Capital Management - The authorized capital of INVL Baltic Real Estate will be reduced from €11,689,050.30 to €11,533,204.30 by canceling 107,480 own ordinary registered shares [7]. - The company was authorized to use reserves for the purchase of its own shares, with specific conditions outlined for the acquisition process [11][12]. Group 5: Governance and Committees - Three members were elected to the Audit Committee for a new four-year term: Dangutė Pranckėnienė, Andrius Lenickas, and Tomas Bubinas [14]. - The hourly remuneration for each member of the Audit Committee was set at €200 before taxes [16]. Group 6: Regulatory Updates - The Articles of Association were amended to include updated risk descriptions and provisions for bond issuance, with the new wording approved [8][9]. - The Regulations of the Audit Committee were updated in accordance with changes in the law [15].