Cmb.Tech NV (CMBT) Q4 2024 Earnings Call Transcript

2025-02-27 13:42:01 ET

Cmb.Tech NV (CMBT)

Q4 2024 Earnings Conference Call

February 27, 2024 08:00 AM ET

Company Participants

Alexander Saverys - CEO

Ludovic Saverys - CFO

Enya Derkinderen - Communications Coordinator

Conference Call Participants

Presentation

Alexander Saverys

Okay. Good afternoon, everyone, and thank you for joining the CMB.TECH Earnings Call for the Fourth Quarter of 2024. My name is Alexander Saverys. I'm the CEO of the company, and I'm joined by my colleagues, Ludovic Saverys, Enya Derkinderen, and Joris Daman.

We will talk about the financials and the highlights of the group, and then we will have a deep dive into every Marine division and the market outlook per division, ending, as always, with some concluding remarks and time to answer some of your questions.

I would like to hand it over now to our CFO, Ludovic.

Ludovic Saverys

Yes. Thanks Alex and hello everyone. Zooming in on the fourth quarter financials. We had strong results this quarter with a profit for the period of $93 million. This brings the full year profit within CMB.TECH over $870 million. This is the second consecutive year that we are around these figures, which is, in our view, quite strong.

Zooming in on the rest of the metrics we have, our liquidity still stands at $281 million. Our contract backlog, which we'll dive in later, is still at $2.05 billion. The CapEx, we've taken a lot of deliveries of newbuilding ships is going down, but yet still is a $2.1 billion outstanding CapEx and our financial covenants are all in order with a book equity on total assets of 30.5%.

Again, highlighting some of the events in our quarter, the profits I've mentioned, we took delivery of seven newbuild vessels in Q4 and an additional two vessels in Q1, which obviously is straight on our diversification and decarbonization strategy....

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