Okeanis Eco Tankers Corp. 鈥� Unaudited Condensed Financial Statements for the Second Quarter and Six-Month Period of 2025
Okeanis Eco Tankers (NYSE:ECO) reported its Q2 2025 financial results, showing revenues of $93.9 million, down from $112.0 million in Q2 2024. The company posted a profit of $26.9 million ($0.84 per share), compared to $39.6 million ($1.23 per share) in the previous year.
Key operational metrics include a fleetwide daily TCE rate of $50,500 per operating day in Q2 2025, with VLCC and Suezmax TCE rates at $49,800 and $51,400 respectively. For Q3 2025 to date, 77% of VLCC spot days are booked at $44,200 per day, and 61% of Suezmax spot days at $34,200 per day.
The Board declared a dividend of $0.70 per share, payable on September 5, 2025, to shareholders of record as of August 22, 2025.
Okeanis Eco Tankers (NYSE:ECO) ha reso noti i risultati finanziari del secondo trimestre 2025, con ricavi pari a $93.9 million, in calo rispetto ai $112.0 million del Q2 2024. La societ脿 ha registrato un utile di $26.9 million ($0.84 per azione), rispetto a $39.6 million ($1.23 per azione) dell'anno precedente.
Le principali metriche operative indicano un tasso TCE medio fleetwide di $50,500 per giorno operativo nel Q2 2025, con TCE per VLCC e Suezmax rispettivamente a $49,800 e $51,400. Per il Q3 2025 ad oggi, il 77% dei giorni spot VLCC 猫 coperto a $44,200 al giorno e il 61% dei giorni spot Suezmax a $34,200 al giorno.
Il Consiglio ha dichiarato un dividendo di $0.70 per azione, pagabile il 5 settembre 2025 agli azionisti registrati al 22 agosto 2025.
Okeanis Eco Tankers (NYSE:ECO) inform贸 sus resultados financieros del segundo trimestre de 2025, con ingresos de $93.9 million, inferiores a los $112.0 million del Q2 2024. La compa帽铆a registr贸 un beneficio de $26.9 million ($0.84 por acci贸n), frente a $39.6 million ($1.23 por acci贸n) del a帽o anterior.
Las m茅tricas operativas clave muestran una tasa TCE diaria media a nivel de flota de $50,500 por d铆a operativo en el Q2 2025, con tasas TCE para VLCC y Suezmax de $49,800 y $51,400, respectivamente. Para el Q3 2025 hasta la fecha, el 77% de los d铆as spot VLCC est谩n contratados a $44,200 por d铆a y el 61% de los d铆as spot Suezmax a $34,200 por d铆a.
El Consejo declar贸 un dividendo de $0.70 por acci贸n, pagadero el 5 de septiembre de 2025 a los accionistas inscritos a fecha de 22 de agosto de 2025.
Okeanis Eco Tankers (NYSE:ECO)電� 2025雲� 2攵勱赴 鞁れ爜鞚� 氚滍憸頄堨姷雼堧嫟. 毵れ稖鞚� $93.9 million鞙茧 2024雲� 2攵勱赴鞚� $112.0 million鞐愳劀 臧愳唽頄堨姷雼堧嫟. 雼轨偓電� $26.9 million鞚� 靾滌澊鞚�(欤茧嫻 $0.84)鞚� 旮半頄堨溂氅�, 鞚措姅 鞝勲厔鞚� $39.6 million(欤茧嫻 $1.23)瓿� 牍勱祼霅╇媹雼�.
欤检殧 鞓侅梾 歆�響滊電� 2025雲� 2攵勱赴 鞖挫榿鞚� 旮办 鞝勴暔雽� 韽夑窢 鞚检澕 TCE臧� $50,500鞓�鞙茧┌, VLCC鞕� Suezmax鞚� TCE電� 臧侁皝 $49,800 氚� $51,400鞚挫棃鞀惦媹雼�. 2025雲� 3攵勱赴(順勳灛 旮办)鞐愲姅 VLCC 鞀ろ専 鞚检垬鞚� 77%臧� 鞚检澕 $44,200搿� 鞓堨暯霅橃柎 鞛堦碃, Suezmax 鞀ろ専 鞚检垬鞚� 61%電� 鞚检澕 $34,200搿� 鞓堨暯霅橃柎 鞛堨姷雼堧嫟.
鞚挫偓须岆姅 欤茧嫻 $0.70鞚� 氚半嫻鞚� 靹犾柛頄堨溂氅�, 氚半嫻鞚� 2025雲� 9鞗� 5鞚检棎 歆�旮夒悩瓿�, 旮办鞚检潃 2025雲� 8鞗� 22鞚检瀰雼堧嫟.
Okeanis Eco Tankers (NYSE:ECO) a publi茅 ses r茅sultats financiers du deuxi猫me trimestre 2025, affichant des revenus de $93.9 million, en baisse par rapport 脿 $112.0 million au T2 2024. La soci茅t茅 a enregistr茅 un profit de $26.9 million (0,84 $ par action), contre $39.6 million (1,23 $ par action) l'ann茅e pr茅c茅dente.
Les principaux indicateurs op茅rationnels montrent un taux TCE journalier moyen pour l'ensemble de la flotte de $50,500 par jour exploit茅 au T2 2025, avec des TCE de $49,800 pour les VLCC et $51,400 pour les Suezmax. 脌 ce jour pour le T3 2025, 77% des jours spot VLCC sont couverts 脿 $44,200 par jour et 61% des jours spot Suezmax 脿 $34,200 par jour.
Le Conseil a d茅clar茅 un dividende de $0.70 par action, payable le 5 septembre 2025 aux actionnaires inscrits au registre au 22 ao没t 2025.
Okeanis Eco Tankers (NYSE:ECO) ver枚ffentlichte die Finanzergebnisse f眉r das 2. Quartal 2025 und wies Umsatzerl枚se von $93.9 million aus, ein R眉ckgang gegen眉ber $112.0 million im Q2 2024. Das Unternehmen erzielte einen Gewinn von $26.9 million ($0.84 je Aktie), gegen眉ber $39.6 million ($1.23 je Aktie) im Vorjahr.
Wesentliche operative Kennzahlen zeigen eine fleetweite durchschnittliche t盲gliche TCE-Rate von $50,500 pro Betriebstag im Q2 2025, wobei die TCE-Raten f眉r VLCC bzw. Suezmax bei $49,800 bzw. $51,400 lagen. F眉r das Q3 2025 sind bisher 77% der VLCC-Spottage zu $44,200 pro Tag belegt und 61% der Suezmax-Spottage zu $34,200 pro Tag.
Der Vorstand hat eine Dividende von $0.70 je Aktie beschlossen, zahlbar am 5. September 2025 an Aktion盲re, die am 22. August 2025 im Register stehen.
- Declared dividend of $0.70 per share for Q2 2025
- Strong fleet utilization with 77% of VLCC and 61% of Suezmax spot days already booked for Q3 2025
- Maintained profitability with $26.9 million quarterly profit
- Healthy cash position of $65.3 million as of June 30, 2025
- Revenue declined 16.2% YoY to $93.9 million in Q2 2025
- Net profit decreased 32.1% YoY from $39.6 million to $26.9 million
- Operating expenses increased to $11.5 million from $10.8 million YoY
- Cash position reduced from $98.1 million to $65.3 million YoY
Insights
Okeanis reports 24% profit decline in Q2 2025 versus 2024, but maintains strong $0.70 dividend despite softer tanker rates.
Okeanis Eco Tankers' Q2 2025 results reveal a 16.2% year-over-year revenue decline to
Despite the pullback, Okeanis continues demonstrating financial resilience with a substantial
The operational performance metrics indicate the market environment has cooled from 2024's exceptional rates. Fleetwide daily TCE rates averaged
Daily vessel operating expenses increased slightly to
ATHENS, Greece, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (together with its subsidiaries, unless context otherwise dictates, 鈥淥ET鈥� or the 鈥淐ompany鈥�) (NYSE: ECO, OSE: OET) today reported its unaudited condensed financial results for the second quarter and six-month period of 2025, which are聽 to this press release.
Financial performance of the Second Quarter Ended June 30, 2025
- Revenues of
$93.9 million in Q2 2025, compared to$112.0 million in Q2 2024. - Profit of
$26.9 million in Q2 2025, compared to$39.6 million in Q2 2024. - Vessel operating expenses of
$11.5 million in Q2 2025, compared to$10.8 million in Q2 2024. - Earnings per share of
$0.84 in Q2 2025, compared to$1.23 in Q2 2024. - Cash (including restricted cash) of
$65.3 million as of June 30, 2025, compared to$98.1 million as of June 30, 2024.
Financial performance of the Six Months Ended June 30, 2025
- Revenues of
$174.1 million in 6M 2025, compared to$223.1 million in 6M 2024. - Profit of
$39.4 million in 6M 2025, compared to$81.1 million in 6M 2024. - Vessel operating expenses of
$22.0 million in 6M 2025, compared to$21.4 million in 6M 2024. - Earnings per share of
$1.23 in 6M 2025, compared to$2.52 in 6M 2024.
Alternative performance metrics and market development
- Time charter equivalent (鈥淭CE鈥�, a non-IFRS measure*) revenue of
$64.0 million in Q2 2025. - EBITDA and Adjusted EBITDA (each non-IFRS measures*) of
$48.5 million and$47.3 million , respectively, in Q2 2025. - Adjusted profit* and Adjusted earnings per share* (each non-IFRS measures*) of
$26.7 million or$0.83 per basic and diluted share in Q2 2025. - Fleetwide daily TCE rate* of
$50,500 per operating day in Q2 2025; VLCC and Suezmax TCE rates of$49,800 and$51,400 per operating day, respectively, in Q2 2025. - Daily vessel operating expenses (鈥淒aily Opex鈥�, a non-IFRS measure*) of
$9,963 per calendar day, including management fees, in Q2 2025. - In Q3 2025 to date,
77% of the available VLCC spot days have been booked at an average TCE rate of$44,200 per day and61% of the available Suezmax spot days have been booked at an average TCE rate of$34,200 per day.
Declaration of Q2 2025 dividend
The Company鈥檚 board of directors declared a dividend of
*The Company uses certain financial information calculated on a basis other than in accordance with International Financial Reporting Standards (鈥淚FRS鈥�) and generally accepted accounting principles, including TCE, Daily TCE, EBITDA, Adjusted EBITDA, Adjusted profit, Adjusted earnings per share, and Daily Opex. For a reconciliation of these non-IFRS measures, please refer to the report attached to this press release.
Presentation
OET will be hosting a conference call and webcast at 14:30 CET on Wednesday August 13, 2025 to discuss the Q2 2025 and 6M 2025 results. Participants may access the conference call using the below dial-in details:
Standard International Access: +44 20 3936 2999
USA: +1 646 233 4753
Norway: +47 815 03 308
Password: 926967
The webcast will include a slide presentation and will be available on the following link:
An audio replay of the conference call will be available on our website:
Contacts
Company:
Iraklis Sbarounis, CFO
Tel: +30 210 480 4200
[email protected]
Investor Relations / Media Contact:
Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1540, New York, N.Y. 10169
Tel: +1 (212) 661-7566
[email protected]
About OET
OET is a leading international tanker company providing seaborne transportation of crude oil and refined products. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under the symbol ECO. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers.
Forward Looking Statements
This communication contains 鈥渇orward-looking statements鈥�, including as defined under U.S. federal securities laws. Forward-looking statements provide the Company鈥檚 current expectations or forecasts of future events. Forward-looking statements include statements about the Company鈥檚 expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渃ontinue,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渉ope,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥渙ngoing,鈥� 鈥減lan,鈥� 鈥減otential,鈥� 鈥減redict,鈥� 鈥減roject,鈥� 鈥渟hould,鈥� 鈥渨ill鈥� or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forwardlooking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company鈥檚 actual results could differ materially from those anticipated in forward-looking statements for many reasons, including as described in the Company鈥檚 filings with the U.S. Securities and Exchange Commission (the 鈥淪EC鈥�). Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ materially include, but are not limited to, the Company鈥檚 operating or financial results; the Company鈥檚 liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations; broader market impacts arising from war (or threatened war) or international hostilities; risks associated with pandemics, including effects on demand for oil and other products transported by tankers and the transportation thereof; and other factors listed from time to time in the Company鈥檚 filings with the SEC. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company鈥檚 expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC鈥檚 website at .
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
A PDF associated with this press release can be found here:聽
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