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Cmb.Tech (CMBT) investor relations material
Cmb.Tech Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary28 Aug, 2025
Executive summary
Completed merger with Golden Ocean, creating the largest listed diversified maritime group with a modern fleet of 206–250 vessels and 44 newbuilds on order, significantly expanding the dry bulk division.
Q2 2025 ended with a net loss of $7.6 million, impacted by one-off merger costs and unrealized losses, compared to a net gain in Q2 2024.
Declared an interim dividend of $0.05 per share for Q2, payable in October 2025, with future dividends to be decided quarterly.
Significant fleet expansion and rejuvenation, including delivery of 8 newbuildings and sale of older vessels, with capital gains from vessel disposals.
Secured a $2 billion facilities agreement for refinancing existing debt, supporting ongoing growth.
Financial highlights
Q2 2025 revenue was $252.0 million, with EBITDA at $224.1 million and a net loss of $7.6 million.
Liquidity at quarter-end exceeded $388 million, including cash and undrawn credit facilities.
Contract backlog stands at $2.93 billion, supported by long-term charters.
Outstanding CapEx commitments total $1.9 billion.
Gains on vessel disposals in Q2 2025 reached $94.99 million.
Outlook and guidance
Positive outlook for tankers and dry bulk, with significant spot exposure and long-term contracts for future-proof tonnage and decarbonization initiatives.
Ongoing newbuilding program, including the first dual fuel NH3 Newcastlemax to be delivered by Q1 2026.
Offshore wind division remains robust, with healthy demand and continued fleet expansion.
Market volatility expected due to geopolitical tensions and evolving global trade patterns.
Fleet expected to grow to 218 vessels by end of Q4 2025, with 23 more ships to be added next year.
What is CMB.TECH/Golden Ocean ownership split?
How many vessels are ammonia/hydrogen-ready?
How many shares are in Golden Ocean appraisal claims?
Capital allocation for unfunded CapEx?
Shadow fleet's long-term market impact?
Ammonia fuel availability for new vessels?
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