Preliminary Q2 2025 results and quarterly cash dividend of $0.20 per share
Hamilton, Bermuda, August 19, 2025, SFL Corporation Ltd. (“SFL” or the “Company”) today announced its preliminary financial results for the quarter ended June 30, 2025.
Highlights
- 86th consecutive quarterly dividend declared, $0.20 per share
- Net income of $1.5 million, or $0.01 per share in the second quarter
- Received charter hire1 of $194 million in the quarter, of which approx. 87% of charter hire from shipping and 13% from energy
- Adjusted EBITDA2 of $104 million from consolidated subsidiaries, of which $97 million from shipping and $7 million from energy. In addition, $8 million adjusted EBITDA2 from associated vessel owning companies
- Five year time charter extension for three 9,500 teu container vessels with Maersk adding approximately $225 million to our backlog from 2026 through 2031
- Continuous fleet renewal during the second quarter and subsequent to quarter end with the sale and redelivery of older dry bulk and container vessels for an aggregate amount of more than $200 million
Ole B. Hjertaker, CEO of SFL Management AS, said in a comment:
«We have taken decisive steps in recent quarters to strengthen our charter backlog by securing agreements with strong counterparties and deploying high-quality assets. This includes investments in cargo-handling and fuel-efficiency upgrades across our existing fleet, while divesting of older, less efficient vessels. As a result, our fleet’s operational and fuel consumption efficiency has improved materially, delivering benefits to both SFL and our customers.
The market for our legacy drilling rig Hercules remains challenging, with the recent market uncertainty and oil price volatility delaying new employment opportunities for the rig. This is impacting our near-term financial results as we keep the rig warm stacked. We remain optimistic about finding new employment for the rig and continue to explore strategic opportunities in parallel. At the same time, we have also sold and redelivered several vessels recently pursuant to pre-agreed purchase options. While this is increasing our available capital for new investments significantly, it is also reducing the near-term cash flow generation. The board has therefore decided to adjust the dividend to 20 cents per share for the second quarter.
Since our inception in 2004, SFL has distributed $2.9 billion to shareholders through 86 consecutive quarterly cash dividends. Over this period, we have consistently demonstrated our ability to renew …