Northern Ocean Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	223.36	252.62	215.26	20.44	56.65	86.85
Other Revenue	0.11	0.33	1.76	1.22	1.45	0.62
Revenue	223.47	252.95	217.02	21.66	58.09	87.47
Revenue Growth (YoY)	-16.27%	16.55%	901.85%	-62.71%	-33.59%	632.58%
Cost of Revenue	164.41	206.32	191.12	37.43	51.98	77.22
Gross Profit	59.06	46.63	25.9	-15.77	6.12	10.25
Selling, General & Admin	8.32	7.01	7.53	7.62	10.15	4.5
Other Operating Expenses	0.14	-0.1	-0.94	-	-2.12	-0.15
Operating Expenses	65.45	56.84	49.49	48.19	56.13	33.93
Operating Income	-6.39	-10.21	-23.59	-63.96	-50.01	-23.69
Interest Expense	-61.55	-56.3	-45.99	-27.86	-21.64	-18.17
Interest & Investment Income	1.88	2.68	1.84	0.36	0.01	0.17
Currency Exchange Gain (Loss)	2.46	0.61	-0.39	-1.04	-0.09	3.35
Other Non Operating Income (Expenses)	-0.02	-0.04	-0.01	-0.01	0.07	-0.03
EBT Excluding Unusual Items	-63.63	-63.26	-68.14	-92.5	-71.67	-38.36
Other Unusual Items	-	-	-	-	57.57	-
Pretax Income	-63.63	-63.26	-68.14	-92.5	-14.09	-38.36
Income Tax Expense	2.39	2.4	2.76	0.39	-3.07	-1.85
Net Income	-66.02	-65.66	-70.9	-92.89	-11.03	-36.51
Net Income to Common	-66.02	-65.66	-70.9	-92.89	-11.03	-36.51
Shares Outstanding (Basic)	348	283	183	115	64	64
Shares Outstanding (Diluted)	348	283	183	115	64	64
Shares Change (YoY)	67.32%	55.11%	58.02%	81.02%	0.02%	1247.22%
EPS (Basic)	-0.19	-0.23	-0.39	-0.80	-0.17	-0.57
EPS (Diluted)	-0.19	-0.23	-0.39	-0.80	-0.17	-0.57
Free Cash Flow	-53.68	-74.84	-79.56	-57.49	-22.02	-26.8
Free Cash Flow Per Share	-0.15	-0.26	-0.44	-0.50	-0.34	-0.42
Gross Margin	26.43%	18.44%	11.94%	-72.81%	10.53%	11.71%
Operating Margin	-2.86%	-4.03%	-10.87%	-295.26%	-86.09%	-27.08%
Profit Margin	-29.54%	-25.96%	-32.67%	-428.81%	-18.98%	-41.74%
Free Cash Flow Margin	-24.02%	-29.59%	-36.66%	-265.41%	-37.90%	-30.63%
EBITDA	50.6	39.72	19.3	-23.75	-7.35	5.9
EBITDA Margin	22.64%	15.70%	8.89%	-109.64%	-12.66%	6.74%
D&A For EBITDA	56.99	49.93	42.89	40.21	42.66	29.58
EBIT	-6.39	-10.21	-23.59	-63.96	-50.01	-23.69
EBIT Margin	-2.86%	-4.03%	-10.87%	-295.26%	-86.09%	-27.08%
Revenue as Reported	233.42	263.86	236.92	21.66	67.78	94.61

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.