S.D. Standard ETC (SDSD) Q3 2024 earnings summary

Executive summary

• Q3 2024 net loss was USD 0.2m, mainly due to unrealized losses on investments and portfolio volatility.

• For the nine months ended 30 September 2024, operating loss was USD 11.8m, with unrealized net loss of USD 21.7m on Standard Supply AS and Dolphin Drilling AS.

• Dividend of NOK 0.20 per share declared for the quarter.

• Received USD 35.8m in dividends from Standard Supply AS during the nine months.

• Maintains a strong financial position with no debt and cash of USD 58.1m as of 30 September 2024.

Financial highlights

• Total comprehensive loss for Q3 2024 was USD 0.2m, compared to a profit of USD 18.4m in Q3 2023.

• Q3 2024 included an unrealized loss of USD 12.1m, fair value gain of USD 1.6m, dividend income of USD 9.7m, and interest income of USD 1.1m.

• Asset Portfolio valued at USD 37m and ETC Portfolio at USD 94m at quarter end.

• Market value of investments in Standard Supply AS and Dolphin Drilling AS: USD 28m.

• Total assets stood at USD 130.7m as of September 30, 2024.

Outlook and guidance

• Focus remains on generating medium to long-term capital growth in oil-service, energy, transport, and commodities sectors.

• Board believes the company is well positioned to capitalize on market opportunities due to its strong financial position and no debt.

• Forward-looking statements highlight exposure to market, regulatory, and operational risks, with no guarantees of future performance.