FLEX LNG .(FLNG) - 2022 Q4 - Earnings Call Presentation

Financial Performance and Guidance - FLEX LNG reported Q4-22 revenues of $98 million, aligning with the guidance of $95-98 million[5][39] - The company achieved a net income of $41 million and an adjusted net income of $55 million for Q4-22[5][39] - Earnings per share (EPS) were $0.78, with an adjusted EPS of $1.02 for the fourth quarter[5][39] - Management projects 2023 revenues of approximately $370 million, supported by an expected Time Charter Equivalent (TCE) of about $80,000/day[5][16][63] - Adjusted EBITDA for 2023 is forecasted to be in the range of $290-295 million[5][63] Capital Allocation and Balance Sheet - The company declared a total dividend of $1.00 per share for Q4-22, consisting of an ordinary dividend of $0.75 and a special dividend of $0.25[5][45] - Full-year 2022 dividends totaled $3.75 per share, implying an annualized yield of approximately 11%[5][45] - FLEX LNG successfully secured refinancing for its final three vessels with gross proceeds of $470 million, contributing to a total net cash release of $387 million through balance sheet optimization[5][45][126] Operational and Market Outlook - The company extended contracts for three ships with Cheniere, securing a minimum of 14 years of additional backlog[5][45] - Global LNG volumes grew by 5% in 2022, with Europe emerging as a primary demand driver by ramping up import capacity to offset reduced Russian gas flows[41][68][70]