CBL International Limited Announces Share Repurchase Program Repurchase Reflects the Board’s Confidence in Long-Term Growth

Rhea-AI Summary

CBL International Limited (NASDAQ: BANL) has announced a share repurchase program authorizing the buyback of up to $5 million or 5 million ordinary shares through April 15, 2028. The company reported strong financial performance with FY2024 revenue reaching $592.52 million, a 35.9% increase from $435.90 million in 2023, driven by a 38.1% growth in sales volume. The growth was attributed to new customer acquisitions, expanded port network coverage, and diversification of their customer base to include bulk carriers and oil/gas tankers. CEO Dr. Teck Lim Chia expressed confidence that the current share price doesn't reflect the company's underlying strength and potential. CBL is focusing on expanding its market presence in biofuels and enhancing its global supply network while pursuing operational efficiency and sustainable growth initiatives.

Positive

• Revenue increased 35.9% to $592.52 million in FY2024 from $435.90 million in 2023
• Sales volume grew 38.1% due to new customer acquisitions
• Successfully expanded supply network and diversified customer base to include bulk carriers and oil/gas tankers
• $5 million share repurchase program demonstrates management's confidence in company's future

Negative

• Current market price undervalues the company according to management, indicating poor stock performance
• Share repurchase program may reduce cash available for operational expansion

Insights

Financial Analyst

CBL's $5M share buyback signals management confidence amid 35.9% revenue growth, though profitability metrics remain undisclosed.

CBL International's announcement of a $5 million share repurchase program represents a strategic capital allocation decision that typically signals management's confidence in the company's intrinsic value. With the stock authorization running until April 2028, management has substantial flexibility in timing their purchases to maximize shareholder value.

The financial performance shows impressive top-line momentum with $592.52 million in FY2024 revenue, a 35.9% increase year-over-year. This growth was volume-driven at 38.1%, indicating strong operational execution in expanding both customer base and service locations. The company has successfully diversified beyond container liner operators to include bulk carriers and oil/gas tankers, reducing customer concentration risk.

However, the announcement lacks critical profitability metrics. Despite strong revenue growth, there's no mention of margins, net income, or earnings per share, which raises questions about whether this volume growth is translating to bottom-line results. The CEO's statement that shares "do not fully reflect the underlying strength" of the business implies potential undervaluation, but without profitability context, it's difficult to evaluate this claim objectively.

The buyback authorization represents a modest capital commitment relative to the overall business size. With no dividend mentioned, this appears to be the company's primary mechanism for returning capital to shareholders in the near term. While the buyback creates a potential floor for the stock price, the long authorization period (nearly 3 years) suggests a measured rather than aggressive approach to repurchases.

Kuala Lumpur, Malaysia, June 03, 2025 (GLOBE NEWSWIRE) -- CBL International Limited (NASDAQ: BANL) (the “Company” or “CBL”), the listing vehicle of Banle Group (“Banle” or “the Group”), today announced that its Board of Directors has authorized a share repurchase program of up to the lesser of $5 million of the Company’s ordinary shares (the “Ordinary Shares”) or 5 million Ordinary Shares.

Repurchases under the share repurchase program may be made in the open market, with the actual timing and amount of repurchases depending on market conditions and corporate needs. The share repurchase program will expire on April 15, 2028. The program does not obligate the Company to acquire any particular number of Ordinary Shares, and the share repurchase program may be extended, modified, suspended or discontinued at any time at the Company’s discretion.

Dr. Teck Lim Chia, Group’s Chairman and Chief Executive Officer, stated: “The Board believes that the current market price of our shares does not fully reflect the underlying strength and long-term potential of our business. This share repurchase program underscores our confidence in the Company’s future and our commitment to delivering sustained value to our stockholders. “

FY2024 Financial Performance

The Company reported consolidated revenue of $592.52 million for the year ended December 31, 2024, marking a 35.9% increase from $435.90 million in 2023. This growth was primarily driven by a 38.1% increase in sales volume, supported by the addition of new customers during the year, the expansion of our supply network to cover more ports, and a broader customer base that now includes bulk carriers and oil and gas tankers in addition to container liner operators.

Looking ahead, CBL remains focused on expanding its market presence, particularly in biofuels, and enhancing its global supply network. The Company is committed to driving operational efficiency and delivering sustainable growth.

The Company’s strategic expansion of ports, diversification of its client base, and commitment to sustainable initiatives are designed to position it for growth when market conditions improve. By investing in new ports and expanding relationships with key industry players, CBL aims to secure long-term partnerships that will strengthen its market position as global trade stabilizes and profitability improves.

About the Banle Group

CBL International Limited (Nasdaq: BANL) is the listing vehicle of Banle Group, a reputable marine fuel logistic company based in the Asia Pacific region that was established in 2015. We are committed to providing customers with one-stop solution for vessel refueling, which is referred to as bunkering facilitator in the bunkering industry. We facilitate vessel refueling mainly through local physical suppliers in over 60 major ports covering Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, the Philippines, Singapore, Taiwan, Thailand, Turkey and Vietnam, as of 16 April 2025. The Group actively promotes the use of sustainable fuels and is awarded with the ISCC EU and ISCC Plus certifications.

For more information about our company, please visit our website at: https://www.banle-intl.com.

Forward-Looking Statements

Certain statements in this announcement are not historical facts but are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” “should,” “would,” “plan,” “future,” “outlook,” “potential,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. They involve known and unknown risks and uncertainties and are based on various assumptions, whether or not identified in this press release and on current expectations of BANL’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of BANL. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, fuel prices and tariffs, market, financial, political and legal conditions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

CBL INTERNATIONAL LIMITED
(Incorporated in Cayman Islands with limited liabilities)

For more information, please contact:
CBL International Limited
Email: investors@banle-intl.com

Strategic Financial Relations Limited

Shelly Cheng	Tel: (852) 2864 4857
Iris Au Yeung	Tel: (852) 2114 4913
Email:	sprg_cbl@sprg.com.hk

FAQ

What is the size of BANL's share repurchase program announced in June 2025?

CBL International Limited announced a share repurchase program of up to $5 million or 5 million ordinary shares, whichever is lesser, expiring on April 15, 2028.

What was CBL International's (BANL) revenue growth in FY2024?

CBL International reported revenue of $592.52 million for FY2024, representing a 35.9% increase from $435.90 million in 2023.

What drove BANL's revenue growth in 2024?

The growth was primarily driven by a 38.1% increase in sales volume, new customer acquisitions, expanded port network coverage, and diversification of customer base to include bulk carriers and oil/gas tankers.

When will BANL's share repurchase program expire?

The share repurchase program will expire on April 15, 2028, unless modified, suspended, or discontinued at the company's discretion.

What is CBL International's (BANL) future business focus?

CBL is focusing on expanding its market presence in biofuels, enhancing its global supply network, driving operational efficiency, and delivering sustainable growth.