StandardCoin (SCOIN) Q4 2024 earnings summary

Executive summary

• Reported Q4 2024 EBITDA of USD -0.1m and net profit of USD -0.2m, reflecting the sale of the last vessel in April 2024.

• Operating revenues for Q4 2024 were USD 0m, down from USD 36.5m in Q4 2023, due to the absence of vessels.

• Distributed NOK 1.1 per share (NOK 206m total) before a 100:1 reverse share split.

• Share capital increased to facilitate share consolidation; management agreement with Ferncliff TIH AS terminated.

Financial highlights

• Q4 2024 adjusted operating income was USD 6.7m, up from USD 1.5m in Q4 2023, mainly from vessel sale gains.

• Full-year 2024 net profit was USD 11.6m, down from USD 41.6m in 2023; adjusted for vessel sales, operating income was USD 6.7m in Q4.

• Operating revenues for 2024 were USD 14.3m (USD 73.3m in 2023), with USD 12.8m from the sale of Standard Supplier.

• Ship operating expenses for 2024 were USD 1.2m, sharply lower due to fleet reduction.

• Net cash provided by operating activities was USD -0.2m for 2024, down from USD 20.3m in 2023.

Outlook and guidance

• As of December 31, 2024, the group owns no vessels, following the sale of Standard Supplier.

• The group remains listed on Euronext Growth in Oslo and continues as a going concern.