Awilco LNG (ALNG) Q4 2025 earnings summary

Executive summary

• Reported a net loss of USD 4.4 million and loss per share of USD 0.03 in Q4 2025, compared to a net loss of USD 0.3 million in Q3 2025; full-year 2025 net loss was USD 11.2 million.

• Net freight income dropped to USD 6.9 million in Q4 2025 from USD 10.6 million in Q3 2025; full-year net freight income was USD 33.6 million.

• EBITDA for Q4 2025 was USD 2.3 million, down from USD 6.4 million in Q3 2025; full-year EBITDA was USD 16.5 million.

• Vessel utilization reached 100% in Q4 2025, up from 96% in Q3 2025; full-year utilization was 83%.

• Both vessels operated in the spot market after redelivery from time charter in November 2025.

Financial highlights

• Freight income for Q4 2025 was USD 9.9 million, down from USD 12.4 million in Q3 2025; full-year freight income was USD 41.6 million, down from USD 67.6 million in 2024.

• Voyage related expenses increased to USD 3.0 million in Q4 2025 from USD 1.7 million in Q3 2025; full-year voyage expenses were USD 8.0 million.

• Operating expenses for Q4 2025 were USD 3.7 million; full-year operating expenses rose to USD 13.7 million due to a new engine maintenance agreement.

• Net financial expenses for Q4 2025 were USD 2.9 million; full-year net financial expenses decreased to USD 12.2 million from USD 19.8 million in 2024.

• Cash and cash equivalents at year-end 2025 were USD 14.8 million, down from USD 19.5 million at Q3 2025.

Outlook and guidance

• Market volatility is expected to persist into 2026 and 2027 due to vessel oversupply.

• Idle periods and lower earnings are anticipated until new LNG production starts or ton-miles increase.

• The Board continues to monitor market developments and financial position.