Thalassa (THAL) H1 2026 earnings summary

Executive summary

• Reported a loss after tax of £0.36m for H1 2026, compared to a profit of £0.01m in H1 2025.

• Earnings per share fell to (£0.02) from £0.00 year-over-year.

• Book value per share declined to £0.51 from £0.60 year-over-year.

• Net assets decreased to £8.5m from £10.1m at the end of H1 2025.

Financial highlights

• Total income from operations dropped to £0.2m from £0.6m year-over-year.

• Gross profit was £0.1m, down from £0.6m in H1 2025.

• Operating loss was £0.3m, compared to a profit of £0.1m in H1 2025.

• Loss before tax was £0.4m, versus a profit of £0.01m in H1 2025.

• Net cash at period end was £0.1m, down from £0.3m a year earlier.

Outlook and guidance

• Management anticipates further market volatility in H2 2026 due to inflation, high oil prices, and geopolitical risks.

• Warns of potential global economic slowdown if trade wars and inflation persist.