Did Hafnia beat or miss consensus estimates last quarter?

What does Hafnia do and what are its main business segments?

What were the key takeaways from Hafnia’s earnings call?

What is the market's earnings forecast for Hafnia next quarter?

What is Hafnia's latest dividend and current dividend yield?

What were the key takeaways from Hafnia's earnings call?

What guidance did Hafnia's management provide for the next earnings period?

What is the revenue and EPS growth rate for Hafnia year over year?

- **创纪录业绩**：Q3 EBITDA 1.505亿美元，净利润9150万美元，均创2025年新高。
- **战略举措**：14.45% TORM股权收购待审批，1亿美元回购船舶优化资本结构。
- **市场优势**：2025年产品油轮供应净增长仅0.5%，2026年若72.5%新船转入原油则增长11%。
- **财务稳健**：净贷价值比降至20.5%，2026年运营现金流盈亏平衡点低于13,000美元/天。
- **前景向好**：2026年已锁定71%四季度运力（日均25,610美元），全年净利润预计3-3.5亿美元。

**【CEO总结部分】**
- 第三季度实现调整后EBITDA 1.505亿美元，净利润9150万美元，创2025年新高。
- 通过出售四艘老旧船舶（2010-2012年建造）优化船队结构，净资产价值达34亿美元（每股6.76美元）。
- 宣布收购TORM 14.45%股份，待独立董事会主席任命后完成交易。

**【首席财务官财务评论】**
- 第三季度TCE收入2.47亿美元，日均TCE 26,040美元。
- 干坞天数超预期230天（总计740天），影响利用率但2026年将改善至440天/季度。
- 净贷款价值比从24.1%降至20.5%，使用1亿美元回购四艘售后回租船舶。
- 2026年运营现金流盈亏平衡点低于13,000美元/天，全年净利润预计3-3.5亿美元。

**【商业副总裁市场展望】**
- 2025年前三季度LR2新造船中88%转入原油运输，支撑产品油轮市场紧平衡。
- 2025年产品油轮供应净增长仅0.5%，2026年预计11%（若72.5%新船转入原油）。
- 地缘政治因素导致俄罗斯产品油出口下降，美国和欧洲出口填补缺口，支撑吨英里需求。

**【问答环节要点】**
- 已为2026年四艘LR2船锁定三年期租约，日均租金3万美元。
- 红海复航对产品油运输影响有限（净减少6艘MR等效运力）。
- TORM股权收购将按市场价与成本价孰低计入净贷价值比计算。
- 2026年已锁定71%四季度运力（日均25,610美元），15%明年运力（24,506美元/天）。

Hafnia Limited (HAFN) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

HAFN

HAFN fundamentals

You can ask Aime