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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.
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.
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