Axel's questions to BW LPG Ltd (BWLP) leadership • Q1 2025
Question
Axel requested an explanation for the year-over-year increase in Selling, General & Administrative (SG&A) expenses.
Answer
CFO Samantha Xu attributed the SG&A increase primarily to accrued bonus-related expenses within the Product Services segment. She explained that these accruals are tied to realized trading results, which have shown year-on-year improvement and were strong in Q1 2025.