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Avance Gas (AGAS) investor relations material
Avance Gas Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary25 Apr, 2025
Executive summary
Net profit of $42.6 million and EPS of $0.56 for Q1 2025, down from $210.2 million and $2.74 in Q4 2024, reflecting asset sales and wind-down activities.
Completed sale of four MGC newbuilding contracts to Exmar for $282.4 million, booking a $34.2 million gain in Q1 2025.
Distributed $435.6 million to shareholders in Q1 2025, including return of capital, extraordinary dividends, and BW LPG share distribution.
Announced final extraordinary distribution of $0.74 per share in April 2025; company proceeding with delisting and voluntary liquidation.
Financial highlights
Operating revenue was $114 thousand in Q1 2025, down from $44.8 million in Q4 2024, due to sale of VLGC fleet.
EBITDA was $94 thousand in Q1 2025, compared to $26.1 million in Q4 2024.
Gain on sale of assets was $34.2 million in Q1 2025, related to MGC newbuilding sale.
Change in fair value of BW LPG shares was a $11.4 million gain in Q1 2025, versus a $96.7 million loss in Q4 2024.
Adjusted net profit (excluding gains and fair value changes) was a loss of $3 million in Q1 2025.
Outlook and guidance
No new investments planned; company in wind-up process with all assets sold and capital returned to shareholders.
Special General Meeting scheduled for May 16, 2025, to approve delisting and voluntary liquidation; delisting expected by June/July 2025.
Why did operating revenue decrease in Q1 2025?
What is the purpose of the May 16 SGM?
What were the terms of the MGC sale to Exmar?
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Frequently asked questions
Avance Gas Holding Ltd offers marine transportation services for LPG; and owns, operates, and manages LPG ocean-going vessels primarily in the spot and term market. As of March 10, 2020, it had a fleet of nine vessels comprised of five fully refrigerated LPG carriers and four pressurized LPG carriers. The company was formerly known as Norgas Carriers Ltd. and changed its name to Avance Gas Holding Ltd in June 2019. Avance Gas Holding Ltd was founded in 2007 and is headquartered in Hamilton, Bermuda.
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