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Globus Maritime (GLBS) investor relations material
Globus Maritime Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported a net loss of $1.9 million in Q2 2025 and $3.35 million for H1 2025, compared to net income in the prior year periods.
Revenue was $9.5 million in Q2 2025 and $18.2 million in H1 2025, with a 5% year-over-year increase for H1 due to a larger fleet.
Adjusted EBITDA reached $3.2 million in Q2 2025 and $5.2 million in H1 2025, both down from the previous year.
Fleet expanded to nine vessels, with a weighted average age of 7.8 years as of September 2025.
Financial highlights
Q2 2025 revenue was flat year-over-year at $9.5 million; H1 2025 revenue rose 5% to $18.2 million.
Net loss of $1.9 million in Q2 2025 versus net income of $3.3 million in Q2 2024; H1 2025 net loss of $3.35 million versus net income of $3 million in H1 2024.
Adjusted EBITDA declined to $3.2 million in Q2 2025 from $4.0 million in Q2 2024; H1 2025 Adjusted EBITDA was $5.2 million, down from $6.0 million.
Daily TCE rate dropped 22% year-over-year in both Q2 and H1 2025, reflecting weaker market conditions.
Operating expenses and depreciation increased due to a larger fleet.
Outlook and guidance
Management expects continued benefit from healthy cargo flows, supportive ton-mile developments, and a modest newbuilding orderbook.
Short- to medium-term outlook is constructive, with the fleet positioned to capture upside from current market rates.
Two additional fuel-efficient Ultramax vessels are scheduled for delivery in about a year.
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