BlueYield (SHIP) Q4 2025 earnings summary

Executive summary

• Net asset value (NAV) at year-end was SEK 300.9 million, or SEK 94.02 per share, with a market capitalization of SEK 320 million.

• Operating profit for the full year was SEK 9.1 million; profit for the period was SEK 7.0 million, or SEK 2.18 per share.

• The company executed strategic investments and divestments, ending with a diversified fleet of 37 vessels across multiple shipping segments.

• Board proposes a dividend of SEK 9.50 per share, totaling SEK 30.4 million, with record date April 16, 2026.

Financial highlights

• Q4 operating profit was SEK 16.9 million; profit for the period SEK 16.0 million, or SEK 4.99 per share.

• Full year operating profit was SEK 9.1 million; profit for the period SEK 7.0 million.

• Portfolio fair value, including cash, increased by 4.4% in Q4 and 6.2% adjusted for currency effects.

• Dividend income from holdings totaled SEK 15.7 million for the year.

Outlook and guidance

• Anticipates continued market volatility in 2026, with profitable opportunities expected from tighter vessel supply in tanker and dry bulk segments.

• Strategy focuses on disciplined capital allocation and targeting segments trading at a discount to NAV.