Philly Shipyard (PHLY) Q2 2025 earnings summary

Executive summary

• Paid dividends of USD 6.08 per share in February and USD 0.86 per share in June 2025.

• Approved delisting from Euronext Expand, with last trading day set for 9 September 2025.

• Ceased trading after sale of main asset, Philly Shipyard, Inc. (PSI), in December 2024.

Financial highlights

• Year-to-date operating revenues for June 2025 and June 2024 were USD 0.

• EBITDA for June 2025 was negative USD 1.2 million, compared to negative USD 0.3 million in June 2024.

• Net loss after tax for June 2025 was USD 0.6 million, versus USD 17.0 million loss in June 2024 (which included a USD 16.7 million loss from discontinued operations).

• Total assets dropped to USD 12.0 million at 30 June 2025 from USD 98.1 million at 31 December 2024, mainly due to dividend payments.

• Cash and cash equivalents fell to USD 1.9 million at 30 June 2025 from USD 88.0 million at year-end 2024.

Outlook and guidance

• Will convert to a private limited liability company (AS) after delisting.

• Will exist until the earlier of the end of a four-year escrow period or disbursement of escrow funds related to the PSI sale.