BW LPG Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,582	3,564	2,947	1,558	1,241
Revenue Growth (YoY)	0.52%	20.91%	89.16%	25.52%	52.93%
Cost of Revenue	2,951	2,880	2,190	1,120	903.39
Gross Profit	630.79	683.32	757.69	438.19	337.97
Selling, General & Admin	76.5	71.13	56.77	31.92	32.58
Amortization of Goodwill & Intangibles	0.37	0.84	0.76	0.61	0.55
Other Operating Expenses	6.46	-1.33	0.99	-0.82	-3.3
Operating Expenses	338.89	271.98	275.65	190.53	183.49
Operating Income	291.91	411.34	482.04	247.67	154.48
Interest Expense	-53.05	-19.85	-27.3	-29.77	-38.55
Interest & Investment Income	10.2	16.25	10.4	2.53	4.46
Earnings From Equity Investments	-	-	-	-	2.03
Currency Exchange Gain (Loss)	1.57	-1.65	-0.35	-0.81	-0.79
Other Non Operating Income (Expenses)	-1.97	-2.84	-2.24	-2.54	-2.74
EBT Excluding Unusual Items	248.66	403.25	462.55	217.07	118.89
Merger & Restructuring Charges	-	-	-	-	-1.15
Gain (Loss) on Sale of Investments	-1.17	1.33	-	-	11.83
Gain (Loss) on Sale of Assets	56.71	20.39	42.37	21.11	25.47
Asset Writedown	-0.29	-	-0.96	1.47	31.9
Pretax Income	303.91	424.96	503.96	239.65	186.94
Income Tax Expense	14.2	30.1	10.97	1.07	0.52
Earnings From Continuing Operations	289.71	394.87	493	238.58	186.42
Minority Interest in Earnings	-47.4	-40.57	-23.04	-11.18	-1.6
Net Income	242.31	354.3	469.96	227.4	184.82
Net Income to Common	242.31	354.3	469.96	227.4	184.82
Net Income Growth	-31.61%	-24.61%	106.67%	23.04%	-24.21%
Shares Outstanding (Basic)	151	134	132	135	139
Shares Outstanding (Diluted)	152	134	133	135	139
Shares Change (YoY)	13.20%	0.87%	-1.76%	-2.54%	0.52%
EPS (Basic)	1.60	2.65	3.57	1.69	1.33
EPS (Diluted)	1.60	2.64	3.53	1.68	1.33
EPS Growth	-39.39%	-25.21%	110.12%	26.30%	-24.60%
Free Cash Flow	387.81	147.13	397.32	459.11	119.97
Free Cash Flow Per Share	2.55	1.10	2.99	3.39	0.86
Dividend Per Share	1.470	2.420	3.460	1.280	0.560
Dividend Growth	-39.26%	-30.06%	170.31%	128.57%	-33.33%
Gross Margin	17.61%	19.17%	25.71%	28.12%	27.23%
Operating Margin	8.15%	11.54%	16.36%	15.90%	12.45%
Profit Margin	6.76%	9.94%	15.95%	14.59%	14.89%
Free Cash Flow Margin	10.83%	4.13%	13.48%	29.47%	9.66%
EBITDA	547.47	503.38	570.89	406.48	258.58
EBITDA Margin	15.28%	14.12%	19.37%	26.09%	20.83%
D&A For EBITDA	255.56	92.04	88.85	158.82	104.1
EBIT	291.91	411.34	482.04	247.67	154.48
EBIT Margin	8.15%	11.54%	16.36%	15.90%	12.45%
Effective Tax Rate	4.67%	7.08%	2.18%	0.45%	0.28%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.