Star Bulk Carriers (SBLK) Corporate Presentation summary

Financial performance and liquidity

• Net income reached $42 million, with adjusted net income at $41 million for Q4 2024.

• Adjusted EBITDA was $104 million, and a dividend of $0.09 per share was declared.

• Proforma cash stood at approximately $452 million, with total proforma liquidity near $0.5 billion including an undrawn revolver.

• Proforma debt and lease obligations totaled $1,266 million, with thirteen debt-free vessels valued at $250 million.

• Q4 2024 cash flow ended at $440.9 million after operations, vessel sales, debt payments, and capex.

Shareholder value and capital allocation

• $2.6 billion in total shareholder value created since 2021 through dividends, share buybacks, and debt reduction.

• Cumulative dividend payments reached $1,344 million, with regular debt amortization and share buybacks contributing to value.

• Net debt per vessel reduced by 54% from Q4 2020 to Q4 2024.

Operational efficiency and cost management

• Achieved significant cost synergies of over $22 million from Eagle Bulk integration, with a Q4 2024 run-rate of $50 million annualized.

• Q4 2024 daily OPEX per vessel was $5,056, and net cash G&A expenses per vessel were $1,264.

• Maintained one of the lowest average daily OPEX among peers and consistently ranked in the top 3 for Rightship safety ratings.