Pelagic Credit (PLGC) Q4 2025 earnings summary

Executive summary

• Yield-oriented maritime credit platform focused on stable, contracted cash flows via long-term bareboat charters with reputable counterparties.

• Listed on Euronext Growth Oslo in March 2026, raising $75m gross proceeds to expand its portfolio.

• Built an initial portfolio of four vessels across two uncorrelated market segments, emphasizing risk-adjusted returns and downside protection.

Financial highlights

• For the period 6 August to 31 December 2025, reported interest income of $800,291 and net profit of $354,383.

• Total equity at year-end was $17.6m, with total assets of $43.3m.

• Senior secured loan facility of $25.5m partially financed vessel acquisitions.

• No dividend recommended for the period; profits retained.

Outlook and guidance

• Plans to deploy remaining capital in line with disciplined investment criteria.

• Expects to initiate regular quarterly dividends after Q2 2026 as portfolio cash flows stabilize.

• Focus remains on long-term contract coverage to mitigate market volatility.