Euroholdings Ltd. · NASDAQ:EHLD
Euroholdings — Q3 2025 Earnings Presentation
20 slides from Euroholdings's earnings presentation, Nov 17, 2025
Slide 1: Earnings Presentation Quarter Ended September 30, 2025
Earnings Presentation Quarter Ended September 30, 2025 November 17, 2025 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 from the sale of M/V Diamantis P ‒ Euroseas distributed the shares of EuroHoldings to its shareholders on a pro-rata basis on
Slide 4: 2025 Q3 Financial Highlights
2025 Q3 Financial Highlights Financial Results in million USD except per share figures Q3 2025 Net Revenues 2.96 Net Income 1.54 $0.55/share(2) Adj. EBITDA(1) 1.44 Third Quarterly Dividend Declaration ▪ Declared third quarterly dividend of $0.14 per share for the third quarter of 2025, payable on or
Slide 5: EuroHoldings Acquires its First MR Product Tanker
EuroHoldings Acquires its First MR Product Tanker ▪ On Nov 5, 2025, the Company announced the signing of a Memorandum of Agreement (MoA) to acquire its first MR product tanker from LATSCO, an affiliated party ‒ The vessel has a carrying capacity of 49,997 dwt and was built in 2015 in South Korea ‒ T
Slide 6: Fleet Profile
Fleet Profile After the delivery of M/V Hellas Avatar, fleet is comprised of 2 containerships with a carrying capacity of 3,171 TEU… …and a product tanker with capacity of 49,997 dwt Fleet Profile Containerships Name Type Size (DWT) Size (TEU) Year Built Joanna Feeder 22,301 1,732 1999 Aegean Expres
Slide 7: Continue Operating Containerships
Continue Operating Containerships ▪ Continue operating existing containerships ‒ The containership markets, especially for feeder vessels like ours, have remained strong ‒ Our vessels, despite their age, may be rechartered beyond their current contracts… o …contributing further earnings and value to
Slide 8: Feeders Are Likely In Short Supply!
Feeders Are Likely In Short Supply! ▪ Orderbook primarily concentrated on large containerships ‒ Capacity growth will be significant in vessel sizes employed in the main lane routes ‒ Regional distribution is done by “feeders”: the more main lane volume, the more feeders are required ▪ Feeders and I
Slide 9: Last 10 Year 6-12 Month TC Rates ($/day)
Last 10 Year 6-12 Month TC Rates ($/day) 1,700 TEU Geared 70,000 60,000 50,000 40,000 $/ day November 14, 2025 $28,750/day 30,000 20,000 16,870 10,100 10,000 0 Jan 16 Jan 19 Jan 21 Jan 22 Jan 24 Jan 15 Jan 17 Jan 18 Jan 20 Jan 23 Jan 25 1,700 TEU grd 6-12 Month Median Average Source: Clarksons Resea
Slide 10: Product Tankers Market Overview
Product Tankers Market Overview 10
Slide 11: MR Tanker TC Rates
MR Tanker TC Rates 1 Year TC Rate(1) ($/day) 3 Year TC Rate(1) ($/day) 35,000 30,000 27,500 30,000 25,000 25,000 23,870 22,500 23,750 $/day $/day 23,500 20,910 21,000 20,000 20,750 20,000 17,500 15,000 15,000 10,000 12,500 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2015 2016 2017 2018 20
Slide 12: MR Tanker Newbuilding & Secondhand Values
MR Tanker Newbuilding & Secondhand Values Newbuilding Price Evolution(1) ($m) 5 Yr Old SH Price Evolution(2) ($m) 10 Yr Old SH Price Evolution(3) ($m) 55.0 55.0 45.0 50.0 40.0 50.0 48.5 45.0 35.0 46.3 43.0 33.0 41.0 31.0 45.0 40.0 30.0 44.9 28.7 38.1 35.0 25.0 40.0 30.0 20.0 35.0 25.0 15.0 30.0 20.0
Slide 13: MR Tanker Fleet Age Profile & Orderbook
MR Tanker Fleet Age Profile & Orderbook Age Profile (mDWT) MR Tanker Deliveries & Demolitions (mDWT) 13% 20% 20% 30% 16% 6.0 30.0 5.0 25.0 4.0 9.8 3.0 20.0 5.0 4.5 4.4 mDWT 3.3 2.0 15.0 4.4 3.3 3.4 3.5 0.8 2.8 2.3 2.5 1.0 1.4 1.0 10.0 3.4 0.0 16.7 (0.1) (0.5) (0.7) (0.7) (0.4) (0.6) (0.2) (0.0) (0.4
Slide 14: 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 mb/d Billion Tonne-miles Global Demand Development (mb/d) Global Refinery
Slide 15: Product Market Trends & Outlook Summary
Product Market Trends & Outlook Summary ▪ The product tanker market has remained strong in recent weeks, with rates about 10% higher than average levels seen in 2025. One- year TC rates reached a year-to-date high of $23,750/ day in early November, matching the average levels observed over the 2020–
Slide 16: Current Fleet Financial Results & Prospects
Current Fleet Financial Results & Prospects 16
Slide 17: Financial Highlights: Q3 & Nine Months 2025
Financial Highlights: Q3 & Nine Months 2025 Q3 9M (in million USD except per share amounts) 2025 2025 Net Revenues 2.96 8.75 Net Income 1.54 13.44 Earnings per Share(1) 0.55 4.81 Interest & Finance Costs, Net(2) (0.12) (0.16) Depreciation 0.02 0.05 (Gain) / Loss on Sale of Vessels - (10.23) Adjusted
Slide 18: Cash Flow Break Even for the Next 12 Months
Cash Flow Break Even for the Next 12 months Cash Flow Break Even Estimate - Containerships ($/day) (1) ➔ Rechartering the vessels in excess of about $10,000/day (gross) contributes positive cash flow Cash Flow Break Even Estimate – Product Tanker ($/day) ➔ Rechartering the vessels in excess of about
Slide 19: Balance Sheet Highlights
Balance Sheet Highlights Capital Structure September 30, 2025 ($m) Notes Assets ▪ Cash & Other assets: $17.5m 20.0 ▪ Vessels book value: $3.6m ▪ Total assets (at book value): $21.1m Liabilities ▪ Trade Accounts Payable: ~$0.4m, i.e.~1.7% of total book value of 15.0 assets ▪ Other liabilities: ~$1.5m
Slide 20: 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.