Frontline plc Files 6-K with H1 2024 Financials

TL;DR

Frontline plc dropped its Q2 2024 financials, showing key capital and surplus figures.

AI Summary

Frontline plc filed a 6-K report for the period ending June 30, 2024. The filing includes financial data for the first half of 2024 and comparative periods. Key financial statement items like Issued Capital, Additional Paid-in Capital, and Revaluation Surplus are detailed as of June 30, 2024, and prior periods.

Why It Matters

This filing provides investors with updated financial performance and position details for Frontline plc, crucial for assessing the company's health and future prospects in the shipping industry.

Risk Assessment

Risk Level: low — This is a routine financial filing (6-K) that provides updated financial information and does not introduce new or significant risks.

Key Numbers

• H1 2024 — Financial Period (The filing covers the first half of 2024.)
• June 30, 2024 — As of Date (Key financial figures are reported as of this date.)

Key Players & Entities

• Frontline plc (company) — Filer of the report
• 0000913290-24-000004.txt (document) — Accession number for the filing
• 20240630 (date) — Reporting period end date

FAQ

Key Financial Figures

• $2,350.0 million — ars, for an aggregate purchase price of $2,350.0 million from Euronav (the "Acquisition"). All
• $1,112.2 million — 11 of the vessels for consideration of $1,112.2 million. In the first quarter of 2024, the Comp
• $1,237.8 million — remaining vessels for consideration of $1,237.8 million. In January 2024, the Company announc
• $290.0 million — 10, for an aggregate net sales price of $290.0 million. The vessels were delivered to the new
• $208.0 m — ated net cash proceeds of approximately $208.0 million, and the Company recorded a gain
• $68.6 million — ion, and the Company recorded a gain of $68.6 million in the six months ended June 30, 2024.
• $45.0 million — built in 2010, for a net sale price of $45.0 million. The vessel was delivered to the new ow
• $32.0 m — ated net cash proceeds of approximately $32.0 million, and the Company recorded a gain
• $11.8 million — ion, and the Company recorded a gain of $11.8 million in the six months ended June 30, 2024.
• $46.9 million — nkers, built in 2010, for a net sale of $46.9 million. The vessel was delivered to the new ow
• $34.0 m — ated net cash proceeds of approximately $34.0 million, and the Company recorded a gain
• $13.8 million — ion, and the Company recorded a gain of $13.8 million in the six months ended June 30, 2024.
• $48.5 million — built in 2010, for a net sale price of $48.5 million. The vessel is expected to be delivered
• $36.5 m — rate net cash proceeds of approximately $36.5 million, and the Company expects to recor
• $18.0 million — pects to record a gain of approximately $18.0 million in the fourth quarter of 2024. In Mar

Filing Documents

• fro-20240630.htm (6-K) — 796KB
• 0000913290-24-000004.txt ( ) — 4513KB
• fro-20240630.xsd (EX-101.SCH) — 47KB
• fro-20240630_cal.xml (EX-101.CAL) — 50KB
• fro-20240630_def.xml (EX-101.DEF) — 184KB
• fro-20240630_lab.xml (EX-101.LAB) — 379KB
• fro-20240630_pre.xml (EX-101.PRE) — 290KB
• fro-20240630_htm.xml (XML) — 728KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. FRONTLINE PLC (registrant) Dated: September 27, 2024 By: /s/ Inger M. Klemp Name: Inger M. Klemp Title: Principal Financial Officer EXHIBIT 1 FRONTLINE PLC Throughout this interim report, the "Company," "we," "us" and "our" all refer to Frontline plc and its subsidiaries. Unless otherwise indicated, all references to "USD," "US$" and "$" in this interim report are U.S. dollars. This management's discussion and analysis of financial condition and results of operations should be read together with the discussion included in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2023. Management's Discussion and Analysis of Financial Condition and Results of Operations for the Six Months Ended June 30, 2024. General As of June 30, 2024, the Company's fleet consisted of 82 vessels owned by the Company (41 VLCCs, 23 Suezmax tankers, 18 LR2/Aframax tankers), with an aggregate capacity of approximately 17.9 million DWT. On October 9, 2023, Frontline entered into a Framework Agreement (the "Framework Agreement") with Euronav NV ("Euronav"). Pursuant to the Framework Agreement, the Company agreed to purchase 24 VLCCs with an average age of 5.3 years, for an aggregate purchase price of $2,350.0 million from Euronav (the "Acquisition"). All of the agreements relating to the Acquisition came into effect in November 2023. In December 2023, the Company took delivery of 11 of the vessels for consideration of $1,112.2 million. In the first quarter of 2024, the Company took delivery of the 13 remaining vessels for consideration of $1,237.8 million. In January 2024, the Company announced that it had entered into an agreement to sell its five oldest VLCCs, built in 2009 and 2010, for an aggregate net sales price of $290.0 million. The vesse

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View this 6-K filing on SEC EDGAR