Euronav NV Earnings Recaps
Q3 2025
Nov 27, 2025
Cmb.Tech reported solid performance in Q3 2025, achieving a net profit of $17 million and an EBITDA of $238 million, bolstered by a successful merger with Golden Zhoushan and strong market dynamics in key segments.
Key takeaways
- Maintained a contract backlog of approximately $3 billion, with a recent fleet rejuvenation adding 7 newbuild vessels.
- Announced an interim dividend of $0.05 per share as a reflection of strong liquidity, which stands at over $555 million.
- Positioned to generate approximately $600 million in free cash flow annually at current market rates, demonstrating significant operational leverage.
- Positive demand outlook in the dry bulk and tanker segments, despite cautious views on containers and chemicals due to market oversupply concerns.
- Capesize rates improved from Q3’s $20,500 to $26,200 in Q4, indicating robust pricing power in the dry bulk segment.
Q2 2025
Aug 28, 2025
Cmb.Tech reported a mixed Q2 performance following the merger with Golden Ocean, showcasing a contract backlog of nearly $3 billion, despite incurring a $7.5 million loss due to integration expenses.
Key takeaways
- Completed merger with Golden Ocean, forming the largest listed diversified maritime group with a fleet of 250 vessels.
- Contract backlog remains strong at approximately $2.9 billion, supported by new long-term charters.
- Q2 EBITDA stood at $224 million, but the company recorded a $7.5 million net loss primarily from integration costs and foreign exchange impacts.
- Free cash flow projections indicate potential operational cash generation between $170 million and $380 million, depending on market conditions.
- Dividend declaration of $0.05 per share anticipated for Q2, payable in October.