Euronav NV Earnings Recaps
Q3 2025
Nov 27, 2025
Cmb.Tech reported a strong third quarter of 2025, achieving $17 million in net profit and $238 million in EBITDA, bolstered by the successful merger with Golden Zhoushan and a robust fleet rejuvenation strategy.
Key takeaways
- Declared interim dividend of $0.05 per share, reinforcing commitment to shareholder returns.
- Maintained a contract backlog of approximately $3 billion, enhancing revenue visibility.
- Anticipated substantial free cash flow growth, with projections of $600 million annually at current market rates.
- Increased spot exposure in dry bulk, targeting 47,000 shipping days in 2026, strategically positioning the company for market gains.
- Positive outlook in dry bulk and tanker sectors, countered by caution in containers and chemicals due to supply-demand challenges.
Q2 2025
Aug 28, 2025
Cmb.Tech reported a challenging Q2 following its merger with Golden Ocean, posting a loss of $7.5 million, while simultaneously expanding its fleet and contract backlog.
Key takeaways
- Completed merger with Golden Ocean, creating a diversified maritime group with a fleet of 250 vessels valued near $11 billion.
- Q2 revenues increased but incurred a $7.5 million loss due to integration costs and market exposure, specifically a $50 million loss related to Golden Ocean.
- Maintained a robust contract backlog of approximately $2.9 billion, underpinned by new long-term charters.
- Projected free cash flow could range from a loss of $35 million to a gain of $380 million depending on market conditions.
- Announced a Q2 dividend of $0.05 per share, payable in October.