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Odfjell (ODF) investor relations material
Odfjell Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Delivered resilient financial results in 2Q25, outperforming the previous quarter despite declining spot rates, market uncertainty from U.S. trade tariffs, and geopolitical turmoil.
Achieved strong safety performance with no significant incidents in the fleet.
Time charter earnings rose to USD 174 million, with TCE/day at USD 30,306, up from USD 29,556 in 1Q25.
Net result was USD 40 million, adjusted to USD 42 million for one-off items, compared to USD 33 million in 1Q25.
Board approved a dividend of USD 0.48 per share, in line with policy to distribute 50% of adjusted net result semi-annually.
Financial highlights
EBIT increased to USD 59 million from USD 54 million in 1Q25; EBITDA was USD 98.4 million, up from USD 93.1 million.
Operating cash flow reached USD 109 million, the second-best quarter historically, up by USD 49 million from 1Q25.
Free cash flow for 2Q25 was USD 12 million; twelve-month rolling free cash flow at USD 60 million.
Cash and cash equivalents at quarter-end were USD 131 million, with total available liquidity of USD 305 million including undrawn facilities.
Earnings per share for the quarter were USD 0.51.
Outlook and guidance
3Q25 financial results expected to be in line with or slightly below 2Q25 due to seasonal factors.
Market outlook remains cautious due to unresolved tariffs and geopolitical tensions, but increased OPEC+ production and Chinese exports may support tanker markets.
Odfjell Terminals anticipates stable underlying results in 3Q25 due to strong contract coverage.
IMF global growth forecast revised slightly upward to 3% for 2025.
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