Seanergy Maritime (US:SHIP)2022-08-05 05:59Financial Performance - Net revenue for Q2 2022 was $328 million, an increase of 18% year-over-year[8, 23] - Adjusted EBITDA for Q2 2022 was $173 million, a 53% increase year-over-year[8, 23] - Net income for Q2 2022 was $59 million, a 203% increase year-over-year[8, 23] - Net revenue for the first half of 2022 was $625 million, a 30% increase year-over-year[8, 23] - Adjusted EBITDA for the first half of 2022 was $341 million, a 77% increase year-over-year[8, 23] - Net income for the first half of 2022 was $96 million, a 1401% increase year-over-year[8, 23] Shareholder Returns - A total of $267 million in buybacks were completed within the period of Q4 2021-Q1 2022[8, 12] - A new buyback plan of up to $5 million was announced[8, 11] - A regular dividend of 25 cents per share was declared for Q2 2022[8, 11] Fleet and Debt - Financing and refinancing transactions of $803 million in H1 2022[8] - $28 million commitment letter to refinance the remaining 2022 balloon[8] - Debt outstanding is approximately $262 million, including convertible notes[31] - Market value of the fleet exceeds its book value by approximately $130 million[31]