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Stock impact report

Golar LNG Limited: Interim results for the period ended 31 March 2020

Golar LNG Limited - Common Shares (GLNG) 
US:NASDAQ Investor Relations: golarlng.com/investors
Company Research Source: GlobeNewswire
Operations and cash-flow generation remain Covid-19 resilient Iain Ross, CEO, Golar LNG, said: "Golar is pleased to report Q1 operating revenues of $122.6 million and adjusted EBITDA1 of $76.2 million, that were driven by a solid performance in FLNG, with 100% commercial uptime on Hilli Episeyo, and strong seasonal results in Shipping, which delivered a Q1 TCE1 of $62k/day, a 57% increase on the $39,300 achieved in Q1 2019.  In Golar Power, the 1.5GW Sergipe power plant in Brazil reached its COD acceptance milestone which triggered commencement of earnings under the 25-year PPA contract and associated FSRU Golar Nanook charter. The first three small-scale customers have also now been formally signed up and LNG distribution operations are expected to start in 2021. This short time to cash flow and the very strong project return confirms the attractiveness of our small-scale business. To date, a further 200 potential customers have signed letters of intent to pursue various small-s Show less Read more
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