Golar LNG Partners LP preliminary fourth quarter and financial year 2020 results
Golar LNG Partners LP generated operating income of $32.2 million for the fourth quarter of 2020, exclusive of its interest in FLNG Hilli Episeyo.
The Partnership reported net income attributable to unit holders of $20.7 million for the fourth quarter after accounting for $0.4 million of non-cash mark-to-market interest rate swap gains.
The Partnership generated distributable cash flow1 of $31.6 million for the fourth quarter resulting in a distribution coverage ratio1 of 22.09. Golar Partners entered into an agreement and plan of merger (“the merger”, “the merger agreement”, or “the transaction”) with New Fortress Energy Inc. and certain of its subsidiaries (“NFE”) whereby NFE will acquire all of the Partnership’s common units for $3.55 per unit.
Golar LNG Ltd (GLNG) Q4 2020 Earnings Call Transcript msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
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Golar LNG Limited preliminary fourth quarter and financial year 2020 results
Golar LNGFebruary 25, 2021 GMT
Delivering on our commitment to shareholders with two transformative transactions
Iain Ross, CEO, Golar LNG, said:
“Golar is pleased to report Q4 total operating revenues of $118.7 million, adjusted EBITDA1 of $78.0 million and net income of $9.5 million, driven by another quarter of uninterrupted commercial uptime in FLNG and a Q4 Adjusted TCE1 for the shipping fleet at $51,800 per day.
Previously announced sales of Hygo Energy Transition Ltd. (“Hygo”) and Golar LNG Partners LP (“Golar Partners” or “the Partnership”) to New Fortress Energy Inc. (“NFE”), in transactions with a combined enterprise value of approximately $5 billion, deliver on Golar’s commitment to simplify its corporate structure and crystallize value to Golar shareholders. The combination of
Golar LNG Partners L.P.: Golar LNG Partners LP preliminary fourth quarter and financial year 2020 results
436
20,716
4,600
81,414 Indirect administrative expenses are allocated to the FSRU and LNG carrier segments based on the number of vessels. Relates to effective share of revenues and expenses attributable to our investment in Golar Hilli LLC ( Hilli LLC ) had we consolidated our 50% ownership of the Hilli LLC common units.
In order to incorporate the economic performance of the FSRU
Golar Freeze into total partnership performance, management has determined that it will measure the performance of the Golar Freeze sales-type lease based on Adjusted EBITDA
1 (EBITDA as adjusted for the amount invoiced under sales-type lease in the period).
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