|
Monaco - Feb. 12, 2024 Scorpio Tankers Inc. (NYSE: STNG) ("Scorpio Tankers" or the "Company") today reported its results for the three months and year ended December 31, 2024. The Company also announced that its board of directors (the "Board of Directors") has declared a quarterly cash dividend on its common shares of $0.40 per share. Results for the three months ended December 31, 2024 and 2023 For the three months ended December 31, 2024, the Company had net income of $68.6 million, or $1.48 basic and $1.43 diluted earnings per share. For the three months ended December 31, 2024, the Company had adjusted net income (see Non-IFRS Measures section below) of $30.3 million, or $0.65 basic and $0.63 diluted earnings per share, which excludes from net income (i) a $52.6 million, or $1.13 per basic and $1.09 per diluted share, gain on sales of vessels, (ii) a $13.9 million, or $0.30 per basic and $0.29 per diluted share, fair value loss on financial assets measured at fair value, and (iii) a $0.5 million, or $0.01 per basic and diluted share, write-offs of deferred financing fees and debt extinguishment costs. For the three months ended December 31, 2023, the Company had net income of $120.9 million, or $2.43 basic and $2.34 diluted earnings per share. For the three months ended December 31, 2023, the Company had adjusted net income (see Non-IFRS Measures section below) of $142.2 million, or $2.85 basic and $2.75 diluted earnings per share, which excludes from net income (i) a $7.3 million, or $0.15 per basic and $0.14 per diluted share, write-off or acceleration of the amortization of deferred financing fees on certain lease financing obligations and related debt extinguishment costs, (ii) a $4.9 million, or $0.10 per basic and $0.09 per diluted share, gain on the sale of a vessel, (iii) an $8.4 million, or $0.17 per basic and $0.16 per diluted share, acceleration of the amortization of restricted stock awards which was triggered by the departure of the Company's former CFO in October 2023, and (iv) a $10.5 million, or $0.21 per basic and $0.20 per diluted share, write-off of previously incurred costs related to the options to purchase scrubbers on 11 MR product tankers which expired unexercised. Results for the year ended December 31, 2024 and 2023 For the year ended December 31, 2024, the Company had net income of $668.8 million, or $13.78 basic and $13.15 diluted earnings per share. For the year ended December 31, 2024, the Company had adjusted net income (see Non-IFRS Measures section below) of $512.9 million, or $10.57 basic and $10.08 diluted earnings per share, which excludes from net income (i) a $176.5 million, or $3.64 per basic and $3.47 per diluted share, gain on sales of vessels, (ii) a $2.8 million, or $0.06 per basic and diluted share, gain on sale of a vessel within a joint venture, (iii) a $15.0 million, or $0.31 per basic and $0.29 per diluted share, fair value loss on financial assets measured at fair value, and (iv) a $8.5 million, or $0.18 per basic and $0.17 diluted share, write-off or acceleration of the amortization of deferred financing fees related to unscheduled debt and lease payments and debt extinguishment costs on certain lease financing obligations. For the year ended December 31, 2023, the Company had net income of $546.9 million, or $10.44 basic and $10.03 diluted earnings per share. For the year ended December 31, 2023, the Company had adjusted net income (see Non-IFRS Measures section below) of $570.3 million, or $10.89 basic and $10.46 diluted earnings per share, which excludes from net income (i) a $16.5 million, or $0.32 per basic and $0.30 per diluted share, write-off or acceleration of the amortization of deferred financing fees on certain lease financing obligations and related debt extinguishment costs, (ii) a $12.0 million, or $0.23 per basic and $0.22 per diluted share, gain on the sale of vessels, (iii) an $8.4 million, or $0.16 per basic and $0.15 per diluted share, acceleration of the amortization of restricted stock awards which was triggered by the departure of the Company's former CFO in October 2023, and (iv) a $10.5 million, or $0.20 per basic and $0.19 per diluted share, write-off of costs related to the options to purchase scrubbers on 11 MR product tankers which expired unexercised. Declaration of Dividend On February 12, 2025, the Company's Board of Directors declared a quarterly cash dividend of $0.40 per common share, with a payment date of March 21, 2025 to all shareholders of record as of March 7, 2025 (the record date). As of February 11, 2025, there were 49,920,042 common shares of the Company outstanding. Full report About Scorpio Tankers Inc. Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 100 product tankers (39 LR2 tankers, 47 MR tankers and 14 Handymax tankers) with an average age of 8.7 years. The Company has entered into an agreement to sell one of its MRs, which is expected to close in the fourth quarter of 2024. Scorpio Tankers Inc. press release 
|
