Ocean Yield (OCY) Q2 2025 earnings summary

Executive summary

• Reported strong Q2 2025 financial performance with adjusted EBITDA of USD 101.1 million and net profit of USD 22.9 million, supported by high earnings visibility and robust liquidity of USD 98.7 million.

• Expanded portfolio to 65 vessels, including new Suezmax, Newcastlemax, and gas carriers, all on long-term charters.

• Increased ownership in France LNG Shipping and acquired/announced stake in CapeOmega, adding exposure to 10 LNG carriers.

• Amended and extended leases/charters for several vessels, enhancing fleet utilization and EBITDA backlog.

• EBITDA charter backlog reached USD 4.3 billion with an average contract duration of 9.9 years.

Financial highlights

• Q2 2025 revenues were USD 62.7 million, up from USD 56.6 million in Q1 2025.

• Adjusted EBITDA rose to USD 101.1 million from USD 91.6 million in Q1 2025.

• Net profit increased to USD 22.9 million from USD 18.3 million in Q1 2025.

• Operating profit was USD 51.7 million, up from USD 45.6 million in Q1 2025.

• No dividend declared for Q2 2025 as cash is allocated to new investments.

Outlook and guidance

• Optimism for continued portfolio growth and diversification through M&A, partnerships, and sale-leaseback transactions.

• Strong access to capital at attractive cost, supporting future expansion and competitive positioning.

• KKR to inject USD 30 million equity to support further expansion.