Okeanis Eco Tankers Corp. reported its unaudited condensed financial results for the fourth quarter and twelve-month period of 2025, which are attached to this press release.
Financial performance of the Fourth Quarter Ended December 31, 2025
- Revenues of $126.9 million in Q4 2025, compared to $85.2 million in Q4 2024.
- Profit of $59.5 million in Q4 2025, compared to $13.2 million in Q4 2024.
- Vessel operating expenses of $11.5 million in Q4 2025, compared to $9.6 million in Q4 2024.
- Earnings per share of $1.76 in Q4 2025 (based on a weighted average number of shares of 33,708,192 for the period), compared to $0.41 in Q4 2024.
- Cash (including restricted cash) of $122.5 million as of December 31, 2025, compared to $54.3 million as of December 31, 2024.
Financial performance of the Twelve Months Ended December 31, 2025
- Revenues of $391.5 million in 12M 2025, compared to $393.2 million in 12M 2024.
- Profit of $123.0 million in 12M 2025, compared to $108.9 million in 12M 2024.
- Vessel operating expenses of $45.2 million in 12M 2025, compared to $42.4 million in 12M 2024.
- Earnings per share of $3.77 in 12M 2025 (based on a weighted average number of shares of 32,575,740 for the period), compared to $3.38 in 12M 2024.
Alternative performance metrics and market development
- Time charter equivalent* (“TCE”, a non-IFRS measure*) revenue of $92.9 million in Q4 2025.
- EBITDA* and Adjusted EBITDA* (each, a non-IFRS measure*) of $79.3 million and $79.0 million, respectively, in Q4 2025.
- Adjusted profit* and Adjusted earnings per share* (each, a non-IFRS measure*) of $59.9 million or $1.78 per basic and diluted share in Q4 2025.
- Fleetwide daily TCE rate* of $76,700 per operating day in Q4 2025; VLCC and Suezmax TCE rates of $92,000 and $53,100 per operating day, respectively, in Q4 2025.
- Daily vessel operating expenses* (“Daily Opex”, a non-IFRS measure*) of $9,794 per calendar day, including management fees, in Q4 2025.
- In Q1 2026 to date, 67% of the available VLCC spot days have been booked at an average TCE rate of $104,200 per day and 64% of the available Suezmax spot days have been booked at an average TCE rate of $84,600 per day.
Declaration of Q4 2025 dividend
The Company’s board of directors declared a dividend of $1.55 per common share to shareholders. Dividends payable to common shares registered in the Euronext VPS will be distributed in NOK. The cash payment will be paid on March 10, 2026, to shareholders of record as of March 3, 2026. The common shares will be traded ex-dividend on the NYSE as from and including March 3, 2026, and the common shares will be traded ex-dividend on the Oslo Stock Exchange as from and including March 2, 2026. Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, dividends payable on common shares registered with Euronext VPS are expected to be distributed to Euronext VPS shareholders on or about March 13, 2026.