26.02.2019 kl 13:13 4646

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SFL – Fourth Quarter 2018 Results
Ship Finance International Limited (NYSE: SFL) – Earnings Release

Reports preliminary Q4 2018 results and quarterly cash dividend of $0.35 per share

Hamilton, Bermuda, February 26, 2019. Ship Finance International Limited (“SFL” or the “Company”) today announced its preliminary financial results for the quarter ended December 31, 2018.


60th consecutive quarterly dividend declared, $0.35 per share
Total charter hire of $160m in the quarter from our 100% owned vessels and rigs, of which approximately 65% was derived from time charters and approximately 35% from bareboat charters
Delivery of the third 10,600 TEU container vessel on long term charter to Maersk Line
Acquisition of two 19,400 TEU container vessels on long term charters to MSC
Concluded more than $840m lease financings in Asia for eight container vessels at attractive terms
Received net proceeds of approximately $130m from sale of jack-up drilling rig and disposal of financial investments in a drillship

Selected key data – Three months ended December 31, 2018

Company 100% Owned Associates
ex. 100% owned associates

Long term charter hire $109 million $34 million
Short term charter hire $17 million –
Total charter hire $126 million $34 million
Adjusted EBIDTA $92 million $34 million
Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment: “The strength of SFL’s business model has been repeatedly proven over 60 consecutive quarters of profitability and dividends. This has been achieved over multiple shipping cycles, and we have been able to accomplish this by taking a very active approach to structuring our investments and managing our balance sheet.

In the process, we have continuously renewed and grown our portfolio and diversified our charter revenue backlog across multiple segments and counterparties. SFL has transformed from a pure vessel leasing company, serving one related party, to a multi-faceted organization with $3.8 billion in contracted future revenues, the majority of which is from unrelated counterparties. In addition, SFL has built a strong technical and commercial vessel operating platform, giving us the ability to offer a wide range of services to our customers, from structured financing to full service time charters.”

Dividends and Results for the Quarter ended December 31, 2018

The Board of Directors has declared a quarterly cash dividend of $0.35 per share. The dividend will be paid on or around March 29, to shareholders on record as of March 12, and the ex-dividend date on the New York Stock Exchange will be March 11, 2019.

February 26, 2019

The Board of Directors
Ship Finance International Limited
Hamilton, Bermuda

The full report can be found in the link below and at the Company’s website

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