BW LPG Limited (NYSE:BWLP) Q1 2025 Earnings Conference Call May 20, 2025 8:00 AM ET
Company Participants
Aline Anliker – Head of Corporate Communications
Kristian Sorensen – Chief Executive Officer
Samantha Xu – Chief Financial Officer
Aline Anliker
Hello, everyone. Good morning, good afternoon, good evening. A warm welcome to BW LPG’s Q1 2025 Earnings Presentation. My name is Aline Anliker, and I’m the Head of Corporate Communications at BW LPG. Today’s presentation will be given by our CEO, Kristian Sorensen; and our CFO, Samantha Xu. After the presentation, we will have a Q&A session. [Operator Instructions]
Before we begin, I would like to highlight the legal disclaimers displayed on the current slide. Please also note that today’s call is being recorded. And without further ado, I would now like to hand over to our CEO, Kristian.
Kristian Sorensen
Thank you, Aline and hello, everyone. Thank you for taking the time to be with us today as we review our first quarter 2025 financial results and recent developments. Let’s turn to Slide 4, please. For Q1, we reported a TCE income of $39,800 per available day and $38,800 per calendar day. This is above our guidance of $36,000 per day, thanks to the performance of our time charter portfolio. After minority interest, the Q1 profit was $46 million, equivalent to $0.30 per share. And the Board of Directors has declared dividends of $0.28 per share, which is equivalent to 75% of our shipping NPAT and translates to an annualized dividend yield of 10%.
We’ve been quite busy on the financing side and have concluded a Japanese JOLCO lease for 1 vessel, the BW Kyoto, while we are at the final stages of refinancing a $380 million bank loan where we have received very strong interest from the banking group. As per our trading update
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