Seacon Shipping (2409) investor relations material

Executive summary

• H1 2026 revenue rose 50.9% YoY to US$207.4m; net profit increased 27.9% to US$29.5m, supported by growth in shipping and integrated maritime services.

• Vessel disposals generated US$14.8m in gains and fleet renewal supported capacity growth; higher finance costs moderated profit growth.

• Fleet capacity reached 1.83m dwt, up 23.6% YoY, while average vessel age fell to 3.8 years from 5.0 years.

Financial highlights

• Revenue was US$207.4m, up 50.9% YoY; gross profit rose 61.6% to US$44.5m and gross margin increased to 21.5% from 20.0%.

• Operating profit was US$41.0m versus US$31.4m; profit before tax was US$29.8m versus US$23.3m, and net profit was US$29.5m versus US$23.0m.

• Profit attributable to shareholders rose 44.7% to US$28.4m; basic and diluted EPS were US$0.057 versus US$0.039.

• EBITDA was US$70.0m, up 54.9% YoY; EBIT was US$48.4m versus US$31.2m.

• Other gains included US$14.8m in net vessel-disposal gains; share of associates and JV profits was US$7.2m versus a US$0.7m loss in H1 2025.

Outlook and guidance

• H2 freight rates may face downward pressure as capacity supply growth outpaces demand; geopolitical risks and trade policies remain key market variables.

• Seven vessels are expected to enter service in H2 2026, adding ~141,500 dwt: five chemical tankers, one oil tanker and one electric container vessel.

• Priorities include balancing controlled and chartered capacity, renewing older vessels, and expanding green-vessel operations and specialized ship-management services, digital tools and high-value services.

• No interim dividend was recommended for H1 2026.