Awilco LNG (ALNG) Q3 2025 earnings summary

Executive summary

• Net loss narrowed to USD 0.3 million in Q3 2025 from USD 3.1 million in Q2 2025, with loss per share at USD 0.00 versus USD 0.02 previously.

• EBITDA rose to USD 6.4 million from USD 3.9 million quarter-over-quarter, reflecting improved vessel utilization and market conditions.

• Net freight income increased to USD 10.6 million, up from USD 7.8 million in Q2 2025.

• Vessel utilization reached 96% in Q3 2025, up from 65% in Q2 2025.

Financial highlights

• Freight income was USD 12.4 million, up from USD 9.1 million in Q2 2025 and USD 12.0 million in Q3 2024.

• Voyage related expenses rose to USD 1.7 million from USD 1.3 million sequentially.

• Operating expenses were USD 3.4 million, up from USD 3.0 million in Q2 2025; administration expenses remained flat at USD 0.8 million.

• Depreciation charges were USD 3.8 million, slightly down from USD 3.9 million in Q2 2025.

• Net financial expenses decreased to USD 2.9 million from USD 3.1 million quarter-over-quarter.

Outlook and guidance

• Market has recently strengthened due to a seasonal winter uptick, but the outlook for next year remains challenging due to new vessel deliveries outpacing the phase-out of older steam vessels.

• Long-term optimism is maintained, supported by increasing LNG production and strong demand for LNG shipping.