Avance Gas Holding Ltd
OSE:AGAS

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Avance Gas Holding Ltd
OSE:AGAS
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Price: 0.24 NOK 77.78% Market Closed
Market Cap: 10.4m NOK

Avance Gas Holding Ltd
Investor Relations

Avance Gas Holding Ltd. engages in the operation and transportation of liquefied petroleum gas. The firm is an owner and operator of very large gas carriers (VLGCs). Avance Gas provides LPG transportation services to destinations in Europe, South America, India and Asia, mainly loading the Middle East Gulf and the United States Gulf/United States East Coast. The company provides customers with transportation services through a combination of contract and spot market voyages. The firm's fleet consists of approximately 13 VLGCs and four dual fuel new buildings. The firm's fleet of vessels includes Iris Glory, Venus Glory, Promise, Mistral (scrubber), Monsoon, Breeze, Passat, Sirocco, Levant, Chinook and Pampero.

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Last Earnings Call
Fiscal Period
Q4 2024
Call Date
Feb 12, 2025
AI Summary
Q4 2024

Record Profit: Avance Gas posted a net profit of $210 million in Q4 and $443 million for the full year 2024, the best annual result in company history, driven by significant vessel sales.

Large Asset Sales: The company sold 16 ships during the year, including 12 VLGCs to BW in a $1 billion transaction, generating substantial gains and cash proceeds.

Major Shareholder Payouts: Avance Gas is distributing $5.25 per share for Q4, including $2 cash, $3.25 in BW shares, and an additional extraordinary dividend of $0.75 expected soon.

Company Wind-Down: The company is in the process of liquidating, with plans to distribute all remaining capital to shareholders and delist after final payments in April/May.

Market Outlook: Management remains constructive on VLGC market fundamentals for 2025–2026, citing U.S. export growth, capacity expansions, and an aging fleet as supportive factors.

Key Financials
Net Profit (Q4)
$210 million
Net Profit (FY 2024)
$443 million
Earnings Per Share (Q4)
$2.74
Earnings Per Share (FY 2024)
$5.78
Adjusted Net Profit (FY 2024)
$125 million
TCE (Reported, Q4)
$35,000 per day
Gain on Sale of Vessels (Q4)
$287 million
Book Gain on Vessel Sales (FY 2024)
$408 million
Cash Position (Year-End 2024)
$176 million
Free Cash Flow (FY 2024)
$630 million
Dividends Paid (FY 2024)
$586 million
Ordinary Cash Dividend (Q4 2024)
$2 per share
Dividend in Kind (BW Shares, Q4 2024)
$3.25 per share (BW shares)
Extraordinary Dividend (Pending, Q4 2024)
$0.75 per share
Pro Forma Net Profit (H1 2025, Estimate)
$63 million
Earnings Call Recording
Other Earnings Calls

Management

Ms. Randi Navdal Bekkelund
Chief Financial Officer
No Bio Available
Captain Kenneth Aasvang
Head of Operations
No Bio Available
Ms. Jannicke Eilertsen
Legal Counsel & Compliance Officer
No Bio Available
Mr. Halfdan Marius Foss
Chief Commercial Officer
No Bio Available
Mr. James Ayers
Secretary
No Bio Available

Contacts

Address
Hamilton
PO Box HM 1593, Par-la-Ville Place, 14 Par-la-Ville Road
Contacts
+14412959671.0
www.avancegas.com