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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.
Executive summary
Q2 2025 net profit was USD 75.3 million, with H1 2025 net profit at USD 138.5 million, reflecting market normalization and scheduled vessel drydocking.
80% of Q2 net profit (USD 60.3 million, USD 0.1210/share) was paid as dividends, continuing a 14-quarter payout streak.
The company operates a young, modern fleet of over 200 product tankers, with an average age of 9.4 years, focusing on the spot market and joint ventures.
Recent refinancing and delivery of two new IMO II MR vessels via joint venture enhance operational and financial flexibility.
75% of Q3 2025 earning days are covered at USD 25,395/day, supporting a positive outlook.
Financial highlights
Q2 2025 net profit: USD 75.3 million; H1 2025: USD 138.5 million.
Q2 2025 TCE income: USD 231.2 million; H1 2025: USD 449.9 million.
Adjusted EBITDA for Q2 2025: USD 134.2 million; H1 2025: USD 259.3 million.
Net loan-to-value ratio stable at 24.1%.
NAV at end Q2: USD 3.3 billion, NAV per share: USD 6.55.
Outlook and guidance
75% of Q3 2025 earning days covered at USD 25,395/day, with positive momentum expected to continue.
Product tanker fundamentals remain robust, with minimal net supply growth due to scrapping and sanctions.
OPEC+ production increases and low refinery maintenance support demand.
Limited newbuild activity and ongoing scrapping expected to keep supply tight.
No significant negative impact expected from geopolitical changes in Red Sea or Suez Canal routes.
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