Vantage (VNTG) Investor presentation summary

Market overview and growth strategy

• Operates as a key intermediary in the marine sector, facilitating transactions between shipowners and charterers, with a focus on oil tankers, petrochemicals, biofuels, and vegetable oils.

• Global shipbroking market valued at $1.56 billion, with oil tankers representing 27% ($422M); Asia Pacific accounts for ~24.8% of the market, and Singapore leads the region.

• Expansion strategy includes acquisitions in China and Singapore, new offices in Dubai, and planned growth in Houston and Europe.

• Targeted acquisitions and talent recruitment aim to mitigate geopolitical risks and capture growth in high-potential markets.

• Diversified customer base of 260 entities, with no single customer accounting for more than 10% of revenue.

Service offerings and technology

• Provides comprehensive shipbroking services: brokerage, contract management, consultancy, and market analysis.

• Revenue model is commission-based, with income recognized upon contract fulfillment; covers period charters, voyage charters, contracts of affreightment, and vessel sales.

• IT subsidiary Hadō Pte Ltd developed Opswiz, a cloud-based operational control platform, enhancing workflow efficiency and real-time data access.

• Strategic use of data analytics and consultancy services to provide actionable market insights and adapt to industry trends.

• Focus on integrating IT and research across all offices to optimize resources and decision-making.

Financial performance and outlook

• For the first half of fiscal 2026, commission revenue reached $8.5M, with a gross margin of 57.8% and net income of $1.5M.

• Adjusted EBITDA for the six months ended September 30, 2025, was $2.2M, compared to $5.7M in the prior year period.

• Forward book order stands at $1.2M, and cash and equivalents total $11.7M as of September 30, 2025.

• Recent acquisitions in China added approximately $3.5M in annual revenue with a net profit margin of 22.3%.

• Strategic focus on growing forward order book, prioritizing term contracts for sustainable revenue.