Euroholdings Ltd. · NASDAQ:EHLD
Euroholdings — Q4 2025 Earnings Presentation
19 slides from Euroholdings's earnings presentation, Feb 25, 2026
Slide 1: Earnings Presentation Quarter Ended December 31, 2025
Earnings Presentation Quarter Ended December 31, 2025 February 25, 2026 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements in this presentation may be "forward-looking statements" within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may re
Slide 3: Company Overview
Company Overview ▪ EuroHoldings Ltd was spun off Euroseas Ltd on March 17, 2025 ‒ A fleet of two debt-free vessels, M/V Aegean Express and M/V Joanna, and about $14m of cash ‒ Euroseas distributed the shares of EuroHoldings to its shareholders on a pro-rata basis on March 17, 2025 o Distribution rat
Slide 4: 2025 Q4 Financial Highlights
2025 Q4 Financial Highlights Financial Results in million USD except per share figures Q4 2025 Net Revenues 4.48 Net Income 1.27 $0.45/share(2) (1) Adj. EBITDA 1.59 Fourth Quarterly Dividend Declaration ▪ Declared a quarterly dividend of $0.14 per share for the fourth quarter of 2025, payable on or
Slide 5: Fleet Profile
Fleet Profile After the delivery of M/V Hellas Avatar, fleet is comprised of 2 containerships with a carrying capacity of 3,171 TEU and a product tanker with capacity of 49,997 dwt Fleet Profile Containerships Name Type Size (DWT) Size (TEU) Year Built Joanna Feeder 22,301 1,732 1999 Aegean Express
Slide 6: Continue Operating Containerships
Continue Operating Containerships ▪ Continue operating existing containerships ‒ The containership markets, especially for feeder vessels like ours, have remained strong ‒ Our vessels, despite their age, may be rechartered beyond their current contracts… o …contributing further earnings and value to
Slide 7: Feeders Are Likely In Short Supply!
Feeders Are Likely In Short Supply! ▪ Orderbook primarily concentrated on large containerships ‒ Capacity growth will be significant in vessel sizes employed in the main lane routes ‒ Regional distribution is done by “feeders”: the more main lane volume, the more feeders are required ▪ Feeders and I
Slide 8: Last 10 Year 6-12 Month TC Rates ($/day)
Last 10 Year 6-12 Month TC Rates ($/day) 1,700 TEU Geared 70,000 60,000 50,000 40,000 $/ day February 20, 2026 $28,000/day 30,000 20,000 17,944 10,825 10,000 0 Jan 16 Jan 25 Jan 17 Jan 18 Jan 19 Jan 20 Jan 21 Jan 22 Jan 23 Jan 24 Jan 26 1,700 TEU grd 6-12 Month Median Average Source: Clarksons Resea
Slide 9: Product Tankers Market Overview
Product Tankers Market Overview 9
Slide 10: MR Tanker TC Rates
MR Tanker TC Rates 1 Year TC Rate(1) ($/day) 3 Year TC Rate(1) ($/day) 35,000 30,000 27,500 30,000 25,000 25,000 24,413 25,000 22,500 $/day 23,750 $/day 21,238 21,000 21,000 20,000 20,000 17,500 15,000 15,000 10,000 12,500 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 2017 2018 2019 20
Slide 11: MR Tanker Newbuilding & Secondhand Values
MR Tanker Newbuilding & Secondhand Values Newbuilding Price Evolution(1) ($m) 5 Yr Old SH Price Evolution(2) ($m) 10 Yr Old SH Price Evolution(3) ($m) 55.0 45.0 55.0 40.0 50.0 50.0 49.5 47.0 45.0 35.0 35.0 45.0 31.5 45.6 41.0 45.0 40.0 30.0 29.6 39.0 35.0 25.0 40.0 30.0 20.0 35.0 25.0 15.0 30.0 20.0
Slide 12: MR Tanker Fleet Age Profile & Orderbook
MR Tanker Fleet Age Profile & Orderbook Age Profile (mDWT) MR Tanker Deliveries & Demolitions (mDWT) 14% 20% 20% 30% 17% 30.0 6.0 5.0 25.0 4.0 9.7 20.0 3.0 5.0 4.5 4.4 4.3 mDWT 2.0 15.0 3.3 4.2 1.1 3.3 3.3 2.8 2.3 2.5 1.0 1.0 1.4 3.7 0.8 10.0 0.0 (0.0) 17.0 (0.1) (0.5) (0.7) (1.1) (0.7) (0.4) (0.6)
Slide 13: Trade Demand Outlook
Trade Demand Outlook Oil Products Seaborne Trade 24.0 3,900 23.0 3,700 22.0 3,500 mb/d 3,300 btm 21.0 3,100 20.0 2,900 19.0 2,700 18.0 2,500 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 mb/d Billion Tonne-miles Global Demand Development (mb/d) Global Refi
Slide 14: Product Market Trends & Outlook Summary
Product Market Trends & Outlook Summary ▪ 2025 was a healthy year for the product tanker market, with earnings remaining stable. One-year TC rates for MR product tankers peaked at $23,750/ day in November–December, broadly in line with the 5-year median levels. In February 2026, the average one-year
Slide 15: Current Fleet Financial Results & Prospects
Current Fleet Financial Results & Prospects 15
Slide 16: Financial Highlights: Q4 & Twelve Months 2025
Financial Highlights: Q4 & Twelve Months 2025 Q4 12M (in million USD except per share amounts) 2025 2025 Net Revenues 4.48 13.23 Net Income 1.27 14.71 Earnings per Share(1) 0.45 5.25 Interest & Finance Costs, Net(2) 0.07 (0.09) Depreciation 0.25 0.30 (Gain) / Loss on Sale of Vessels - (10.23) Adjust
Slide 17: Cash Flow Break Even for the Next 12 Months
Cash Flow Break Even for the Next 12 months Cash Flow Break Even Estimate - Containerships ($/day) 9,038 9,038 9,038 1,000 1,187 8,038 - - 6,851 OPEX G&A Expenses Operating B/E Drydocking EBITDA B/E Interest Expenses Operating & Loan Repayments Total Expenses Financing B/E (excl. Balloon) ➔ Recharte
Slide 18: Balance Sheet Highlights
Balance Sheet Highlights Capital Structure December 31, 2025 ($m) Notes 45.0 Assets ▪ Cash & Other assets: $7.5m 40.0 Cash & Other ▪ Vessels book value: $35.2m Assets ▪ Total assets (at book value): $42.7m 35.0 Liabilities NBV ▪ Bank Debt (incl. Deferred Charges): $20.0m, i.e. ~46.8% of total 30.0 b
Slide 19: EuroHoldings Contacts
EuroHoldings Contacts EuroHoldings Ltd. c/o Eurobulk Ltd 4, Messogiou & Evropis Street 151 24 Maroussi, Greece www.euroholdings.gr info@euroholdings.gr Tel. +30-211-1804005 Fax.+30-211-1804097 Tasos Aslidis Nicolas Bornozis / Markella Kara Chief Strategy Officer Investor Relations EuroHoldings Ltd.