Hafnia Limited (HAFN) financial statements
Hafnia Limited reported revenue of $2.9B in fiscal 2024, up 22.0% a year over 2 years.
Net income was $774M and the operating margin 28.1%, against 42.7% in 2022.
Free cash flow was $981M, and the company returned $700M in dividends and $26M in net buybacks.
The diluted share count rose 5% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Hafnia Limited's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | $1.9B | $2.7B | $2.9B |
| Gross profit | $1.3B | $1.4B | $1.4B |
| Operating income | $823M | $858M | $806M |
| Interest expense | $91M | $77M | $52M |
| Pre-tax income | $758M | $800M | $778M |
| Income tax | $7M | $6M | $4M |
| Net income | $752M | $793M | $774M |
| EPS (diluted) | $1.54 | $1.56 | $1.50 |
| Diluted shares | 489M | 509M | 515M |
| Gross margin | 69.9% | 51.2% | 48.5% |
| Operating margin | 42.7% | 32.1% | 28.1% |
| Net margin | 39.0% | 29.7% | 27.0% |
Balance sheet
Fiscal years, from Hafnia Limited's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 |
|---|---|---|---|
| Cash and short-term investments | $280M | $223M | $284M |
| Receivables | — | $590M | $504M |
| Inventory | — | $108M | $94M |
| Total current assets | — | $933M | $900M |
| Property, plant and equipment | — | $2.8B | $2.6B |
| Total assets | — | $3.9B | $3.7B |
| Total current liabilities | — | $661M | $654M |
| Long-term debt | — | $1.0B | $786M |
| Total liabilities | — | $1.7B | $1.4B |
| Shareholders' equity | $2.0B | $2.2B | $2.3B |
| Net debt | -$280M | $1.1B | $839M |
Cash flow
Fiscal years, from Hafnia Limited's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 |
|---|---|---|---|
| Operating cash flow | $771M | $1.1B | $1.0B |
| Capital spending | $447M | $184M | $50M |
| Free cash flow | $324M | $876M | $981M |
| Stock-based compensation | $2M | $3M | $3M |
| Dividends paid | $244M | $544M | $700M |
| Share buybacks (net) | $0 | -$23M | -$26M |
| Net borrowing | $24M | -$62M | $864,000 |
| Free cash flow margin | 16.8% | 32.8% | 34.2% |
| Dividends per share | $0.50 | $1.07 | $1.36 |
Questions
What was Hafnia Limited's revenue in 2024?
$2.9B in fiscal 2024, from its 10-K filing.
How much free cash flow does Hafnia Limited generate?
$981M in fiscal 2024 (operating cash flow minus capital spending).
From Hafnia Limited's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.