S.D. Standard ETC (SDSD) Q2 2025 earnings summary

Executive summary

• Achieved Q2 2025 operating profit of USD 4.95 million, reversing a USD 5.6 million loss in Q2 2024; six-month operating loss narrowed to USD 1.5 million from USD 11.6 million year-over-year.

• Results driven by fair value gains on financial assets, trading profits, and net foreign currency gains, despite losses from the sale of Dolphin Drilling AS and related loans.

• Maintained strong liquidity with USD 86.1 million in cash and no debt as of 30 June 2025.

• Strategic focus remains on energy, transport, and commodities, with flexibility to pursue attractive opportunities.

Financial highlights

• Q2 2025 operating profit: USD 4.95 million (Q2 2024: USD -5.6 million); profit per share: USD 0.01.

• Six-month operating loss: USD 1.5 million (2024: USD -11.6 million); loss per share: USD 0.00.

• Q2 2025 fair value gain on Standardcoin AS: USD 1.3 million; trading assets gain: USD 1.1 million.

• Dividend income for six months: USD 746 thousand (2024: USD 26.5 million); interest income: USD 2 million.

• Net foreign currency gain for six months: USD 1.4 million (2024: USD -664 thousand).

Outlook and guidance

• Aims for significant medium to long-term capital growth, focusing on energy, transport, and commodities.

• Board believes the company is well positioned to capitalize on market opportunities with a solid financial base and no debt.