FLEX LNG reported FY 2025 vessel operating revenues of USD 347.6 million (down 2.4%) and time charter equivalent (TCE) income of USD 335.3 million, with a TCE rate of USD 71,728 per day (down 4.3%). Voyage expenses rose to USD 12.4 million (up 267.2%), including USD 7.8 million related to EU Emissions Trading System (EU ETS) allowances, while vessel operating expenses increased to USD 74.9 million (up 7.1%). Administrative expenses were USD 8.0 million (down 18.6%) and depreciation was USD 76.6 million (up 1.5%). Interest expense fell to USD 92.6 million (down 12.3%) and interest income was USD 4.1 million (down 8.5%); the company also recorded USD 4.1 million of long-term debt extinguishment costs (6.4x). FLEX LNG posted a loss on derivatives of USD 7.4 million, compared with a gain in the prior year. For liquidity, FLEX LNG ended FY 2025 with cash, cash equivalents and restricted cash of USD 447.7 million (up 2.4%) and positive working capital of USD 337.4 million (up 6.9%). Net cash provided by operating activities was USD 140.7 million (down 23.0%), reflecting USD 24.6 million of drydocking expenditure and working capital movements, while dividend payments totaled USD 162.3 million. Management attributed the revenue decline mainly to Flex Constellation and Flex Artemis trading in the spot market at lower rates after redelivery from long-term contracts, alongside four vessel drydockings in 2025; EU ETS-related revenue increased to USD 7.8 million. The company said it remained in compliance with all financing covenants as of December 31, 2025 and highlighted refinancing actions including new facilities and sale-and-leaseback transactions during 2025, as well as interest rate swaps fixing rates on a USD 775.0 million notional amount at a weighted average fixed rate of 2.46%.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. FLEX LNG Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-26-012574), on February 27, 2026, and is solely responsible for the information contained therein.
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