BlueYield (SHIP) Q2 2026 earnings summary

Executive summary

• Net asset value (NAV) as of June 30, 2026, was SEK 326.2 million, up 11.6% year-over-year and 19.6% adjusted for currency and dividends.

• Operating profit for Q2 2026 reached SEK 17.8 million, with profit for the period at SEK 17.5 million (SEK 5.50 per share).

• Significant portfolio rotation with SEK 30.8 million invested in vessels and SEK 32.3 million from vessel sales in Q2.

• Dividend of SEK 30.4 million distributed; Board intends to propose an extraordinary dividend of at least SEK 5.50 per share.

• Portfolio comprises 36 vessels across 25 project companies, diversified by segment and geography.

Financial highlights

• H1 2026 operating profit was SEK 37.6 million, with profit for the period at SEK 38.7 million (SEK 12.10 per share).

• Q2 2026 profit mainly driven by SEK 10.8 million in positive fair value adjustments and SEK 7.5 million in dividends received.

• Portfolio fair value (including cash) increased by 8.4% since year-end 2025, or 10.1% adjusted for currency and dividends.

• Cash and cash equivalents at period end were SEK 37.8 million.

Outlook and guidance

• Board plans to propose an extraordinary dividend before year-end, reflecting strong liquidity and performance.

• Continued flexibility to pursue new investment opportunities due to solid liquidity.