Northern Ocean 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
Operating Revenue	271.92	252.62	215.26	20.44	56.65
Other Revenue	0.12	0.33	1.76	1.22	1.45
Revenue	272.04	252.95	217.02	21.66	58.09
Revenue Growth (YoY)	7.55%	16.55%	901.85%	-62.71%	-33.59%
Cost of Revenue	241.23	206.32	191.12	37.43	51.98
Gross Profit	30.81	46.63	25.9	-15.77	6.12
Selling, General & Admin	7.88	7.01	7.53	7.62	10.15
Other Operating Expenses	0.53	-0.1	-0.94	-	-2.12
Operating Expenses	63.54	56.84	49.49	48.19	56.13
Operating Income	-32.73	-10.21	-23.59	-63.96	-50.01
Interest Expense	-56.3	-56.3	-45.99	-27.86	-21.64
Interest & Investment Income	1.61	2.68	1.84	0.36	0.01
Currency Exchange Gain (Loss)	0.04	0.61	-0.39	-1.04	-0.09
Other Non Operating Income (Expenses)	-0.03	-0.04	-0.01	-0.01	0.07
EBT Excluding Unusual Items	-87.41	-63.26	-68.14	-92.5	-71.67
Asset Writedown	-13.13	-	-	-	-
Other Unusual Items	-	-	-	-	57.57
Pretax Income	-100.54	-63.26	-68.14	-92.5	-14.09
Income Tax Expense	2.13	2.4	2.76	0.39	-3.07
Net Income	-102.67	-65.66	-70.9	-92.89	-11.03
Net Income to Common	-102.67	-65.66	-70.9	-92.89	-11.03
Shares Outstanding (Basic)	303	283	183	115	64
Shares Outstanding (Diluted)	303	283	183	115	64
Shares Change (YoY)	7.12%	55.11%	58.02%	81.02%	0.02%
EPS (Basic)	-0.34	-0.23	-0.39	-0.80	-0.17
EPS (Diluted)	-0.34	-0.23	-0.39	-0.80	-0.17
Free Cash Flow	-53.37	-74.84	-79.56	-57.49	-22.02
Free Cash Flow Per Share	-0.18	-0.26	-0.44	-0.50	-0.34
Gross Margin	11.33%	18.44%	11.94%	-72.81%	10.53%
Operating Margin	-12.03%	-4.03%	-10.87%	-295.26%	-86.09%
Profit Margin	-37.74%	-25.96%	-32.67%	-428.81%	-18.98%
Free Cash Flow Margin	-19.62%	-29.59%	-36.66%	-265.41%	-37.90%
EBITDA	22.41	39.72	19.3	-23.75	-7.35
EBITDA Margin	8.24%	15.70%	8.89%	-109.64%	-12.66%
D&A For EBITDA	55.13	49.93	42.89	40.21	42.66
EBIT	-32.73	-10.21	-23.59	-63.96	-50.01
EBIT Margin	-12.03%	-4.03%	-10.87%	-295.26%	-86.09%
Revenue as Reported	279.42	263.86	236.92	21.66	67.78

Source: S&P Global Market Intelligence. Standard template. Financial Sources.