Ramlösa Shipping (RAMSH) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were 12,246 tkr, down from 20,392 tkr year-over-year, mainly due to the divestment of Bee Shipping and its vessel London Star in February 2024.

• Operating profit for the quarter was 4,129 tkr, compared to 21,184 tkr in Q1 2024.

• Net income attributable to parent company shareholders was 1,313 tkr, down from 6,573 tkr year-over-year.

• EPS attributable to parent company shareholders was 0.4 kr, compared to 4.1 kr in Q1 2024.

• Equity per share attributable to parent company shareholders was 29.0 kr at period end, up slightly from 28.9 kr.

Financial highlights

• EBITDA for Q1 2025 was 5,802 tkr, down from 22,434 tkr in Q1 2024.

• Total equity at period end was 115,945 tkr, up from 50,880 tkr year-over-year.

• Cash and cash equivalents at period end were 12,594 tkr, down from 50,910 tkr at the end of Q1 2024.

• Operating cash flow for the quarter was 6,352 tkr, compared to 27,171 tkr in Q1 2024.

• The company reported a negative currency effect of approximately 2.4 million SEK due to USD/SEK fluctuations.

Outlook and guidance

• The vessel Hansa Africa returned to service under a long-term contract with Maersk, expected to positively impact future cash flow.

• The 40% stake in Capito Capital Management A/S is seen as the most promising near-term growth driver.

• Management is exploring both organic and credit market-driven growth, with ongoing discussions with banks.

• A dividend of 0.20 kr per share and a share buyback program of up to 4% of outstanding shares are proposed.