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Hafnia (HAFNI) investor relations material
Hafnia Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary27 Aug, 2025
Executive summary
Achieved Q2 2025 net profit of $75.3M ($0.15/share) and adjusted EBITDA of $134.2M, with H1 2025 net profit at $138.5M, supported by robust demand and improved refinery margins.
Maintained an 80% dividend payout ratio for Q2 2025, distributing $60.3M and continuing a 14-quarter streak of payouts.
Expanded fleet with delivery of two new dual-fuel methanol MR vessels via joint ventures; total fleet at 126 vessels, average age 9.4 years.
Secured a $715M revolving credit facility, lowering funding costs and enhancing liquidity.
75% of Q3 2025 earning days covered at $25,395/day, supporting positive outlook.
Financial highlights
Q2 2025 adjusted EBITDA: $134.2M; net profit: $75.3M; H1 2025 net profit: $138.5M.
TCE income: $231.2M in Q2; $449.9M in H1 2025.
Return on equity (annualized): 13.2% for Q2 2025.
Net asset value: $3.3B ($6.55/share) at Q2 end.
Net loan-to-value ratio stable at 24.1%.
Cash at bank and on hand: $194M at Q2 2025.
Outlook and guidance
75% of Q3 earning days secured at $25,395/day; 48% of remaining 2025 days covered at $23,623–$25,158/day.
Full-year 2025 net profit projected at $305M–$310M.
Market fundamentals remain robust with limited fleet supply, improved spot rates, and positive analyst consensus.
Expect fewer dry dockings and repairs in Q3, reducing off-hire days.
OPEC+ production increases and low refinery maintenance support product tanker demand.
Future fleet ownership strategy post-refinancing
Mitigating off-hire days amid market shifts
JV strategy: Seascale, Ecomar growth outlook
Quantify cash breakeven post-refinancing
Sanctions' impact on realistic scrapping scenario
Why are MR earnings catching up to LRs?
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Next Hafnia earnings date
Q3 20251 Dec, 2025
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Frequently asked questions
Hafnia Limited is a global shipping company specializing in the transportation of oil and oil products. The company operates a modern fleet of tankers designed to carry refined oil products, crude oil, and other liquid cargoes. Hafnia provides safe, reliable, and efficient shipping solutions to customers in the energy and commodity sectors. Its services include spot charters, time charters, and pool management. The company is headquartered in Singapore, and its shares are listed on the Oslo Stock Exchange.
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