Global Ship Lease (GSL) has announced its financial results for the fourth quarter and full year 2024, highlighting significant revenue growth and strategic business developments.
Key Highlights:
- Full-year 2024 operating revenue reached $711.1 million, up 5.4% from 2023.
- Net income available to common shareholders rose 16.6% to $344.1 million, with Earnings Per Share (EPS) of $9.74.
- Adjusted EBITDA increased 7.1% to $494.7 million.
- GSL acquired four high-specification containerships for $274 million, expanding its fleet and revenue backlog.
- The company sold three older ships for $54.5 million, as part of its fleet renewal strategy.
- GSL declared a quarterly dividend of $0.45 per Class A common share and announced a 16.7% increase in total annualized dividends per share to $2.10.
Business Update:
GSL's Executive Chairman, George Youroukos, expressed confidence in the company's position, citing strong demand for its fuel-efficient vessels. The company has secured extended charter coverage, adding $885 million to its revenue backlog. With a focus on operational excellence, capital allocation discipline, and opportunistic acquisitions, GSL aims to sustain its track record of creating shareholder value.
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