Belgium · Delayed Price · Currency is EUR Cmb.Tech NV Earnings Call Transcripts
Fiscal Year 2025
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Q4 saw strong profits, robust liquidity, and accelerated deleveraging, with significant capital gains from vessel sales and a positive outlook for dry bulk and tanker markets. Dividend payments increased, and all CapEx is fully financed.
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Q3 saw $17M net profit and $238M EBITDA, with strong liquidity and a fully funded CapEx program. Dry bulk and tanker segments outperformed, while container and chemical markets remain challenging. Dividend policy remains flexible, with ongoing debt reduction and asset sales.
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Q2 saw a $7.6M loss due to merger-related one-offs, but EBITDA reached $224M and liquidity is strong. The merger with Golden Ocean Group created the largest listed diversified maritime group, with a positive outlook for tankers and dry bulk, and a $0.05 dividend declared.
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Q1 2025 saw a $40M profit, strong contract wins, and a major merger plan with Golden Ocean. Liquidity remains robust, CapEx steady, and the outlook is positive for tankers and dry bulk, while container and chemical segments are more cautious.
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A stock-for-stock merger will create a diversified maritime group with over 250 ships, a $11 billion fleet value, and a strong focus on decarbonization and market diversification. The combined entity targets increased liquidity, robust financials, and growth in dry bulk and tanker segments.
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A stock-for-stock merger will create a diversified maritime group with over 250 vessels, focusing on decarbonization and resilience across shipping cycles. The combined entity targets strong financials, a modern fleet, and leadership in low-carbon shipping, with regulatory changes expected to enhance its competitive edge.
Fiscal Year 2024
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Q4 profit reached $93 million, with full-year profit at $871 million and strong liquidity. Tanker and dry bulk markets remain positive, while containers are more cautious; capital gains from vessel sales totaled $116 million. Contract backlog stands at $2.05 billion.
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Q3 2024 saw strong profitability, robust liquidity, and a growing, modern fleet. Positive outlooks persist for tankers, dry bulk, chemical tankers, and offshore wind, while caution is maintained on containers due to supply growth. Leverage and CapEx are well managed.
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Q2 2024 delivered strong profits, robust dividends, and major fleet expansion, with all divisions performing well. Market outlook remains highly positive, supported by low order books and new decarbonization initiatives.