CH Offshore (C13) investor relations material

Executive summary

• 1H2026 net loss after tax was US$1.58m, versus net profit of US$1.04m in 1H2025; lower gross profit was the main driver.

• Revenue fell 15.9% YoY to US$9.10m, reflecting lower utilisation of owned vessels, partly offset by higher revenue from third-party chartered vessels.

Financial highlights

• Gross profit after direct depreciation declined 75.4% to US$0.895m; cost of sales rose to US$5.71m on higher repair, maintenance and bunker costs.

• Direct depreciation decreased 6.8% to US$2.50m; administrative expenses rose 23.8% to US$2.13m, mainly due to higher salaries from increased headcount.

• Net loss attributable to equity holders was US$1.228m; basic and diluted EPS was a loss of 0.06 US cents, versus earnings of 0.03 US cents in 1H2025.

• Operating cash flow was US$0.365m, versus US$2.744m in 1H2025; cash and cash equivalents were US$19.053m at 30 June 2026.

Outlook and guidance

• 1H2026 results were broadly in line with the profit guidance announced on 15 July 2026.

• Operations will be managed conservatively amid evolving geopolitical and trade conditions.