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Golar LNG (GLNG) - 2025 Q1 - Earnings Call Presentation
2025-05-27 12:06
Financial Performance & Backlog - Golar reported total operating revenues of $63 million in Q1 2025[68] - Adjusted EBITDA for Q1 2025 was $41 million[68] - Golar's Adjusted EBITDA backlog is approximately $17 billion, before commodity upside and inflationary adjustments[70, 88, 89] - Golar's share of contractual debt is $1495 million and Total Golar Cash is $678 million, resulting in Adjusted Net Debt of $817 million[68] FLNG Operations & Projects - FLNG Hilli has produced over 92 million tons of LNG since commercial operation date (COD)[10] - FLNG Gimi's COD is expected in Q2 2025, activating $151 million of annual Adjusted EBITDA to Golar[20] - Total spend to date on MKII FLNG is approximately $07 billion, fully equity funded, with project delivery scheduled for Q4 2027[25] Argentina & SESA Contracts - Golar has secured approximately $14 billion+ in Adjusted EBITDA backlog from Argentina contracts[32] - Golar's 10% shareholding in Southern Energy S A (SESA) adds approximately $28 million in annual Adjusted EBITDA commodity exposure per $1/MMBtu change in LNG FOB prices[38] - Commodity upside in Adjusted EBITDA of $70 million per year for every $1/MMBtu achieved FOB prices are above $8/MMBtu[35]