Avance Gas Holding Earnings Call Transcripts
Fiscal Year 2024
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Q4 and full-year 2024 were highly profitable, driven by major vessel sales and asset divestments, resulting in record net profit and substantial shareholder distributions. The company is winding up, with all assets being liquidated and proceeds returned to shareholders.
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Announced full wind-down after selling all ships, with $3.50/share Q3 dividend and further distributions planned. Q3 net profit was $25.8M, year-to-date profit $233M, and company will distribute BW shares to shareholders before final liquidation in 2025.
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Record H1 2024 net profit of $207M and $268M in dividends were achieved, driven by strong vessel sales and the $1.05B VLGC fleet sale to BW LPG. All debt will be repaid, with further high dividends expected as cash and BW shares are distributed to shareholders.