D'amico International Shipping S.a. · MIL:DIS
D'amico International Shipping — Q1 2025 Earnings Presentation
70 slides from D'amico International Shipping's earnings presentation, May 9, 2025
Slide 1: Q1 2025 Presentation
Q1 2025 Presentation d’Amico International Shipping May 8th, 2025
Slide 2: Disclaimer
DISCLAIMER. There shall be no offering or sale of any securities of d’Amico International Shipping S.A. in the United States of America, Switzerland, Canada, Australia, Japan, the United Kingdom or any jurisdiction in which such offer, solicitation or sale would be unlawful prior to its registration
Slide 3: Agenda
AGENDA. ▪ Executive summary ▪ DIS’ overview and key financials ▪ Strategic priorities and market overview ▪ Why invest in DIS ▪ DIS’ ESG ▪ Appendix
Slide 4: Executive summary
Executive summary. • Net profit – In Q1’25, d’Amico International Shipping SA (“DIS” or “the Company”) recorded a Net profit of US$ 18.9m vs. a Net profit of US$ 56.3m in Q1’24. Although not as strong as in the previous year, the positive results for the current period reflect the still robust produ
Slide 5: Executive summary
Executive summary. • Generous dividends and growing payout ratio – ✓ ‘23 Annual Dividend – In April’24, DIS’ Annual General Shareholders meeting approved a gross dividend of US$ 0.2487 (US$ 0.2114 net, after deducting the maximum applicable withholding tax of 15%) per issued and outstanding share. T
Slide 6: DIS' overview and key financials
DIS’ overview and key financials
Slide 7: A modern, high-quality and versatile fleet
A modern, high-quality and versatile fleet. March 31st, 2025 DIS Fleet 1 LR1 MR Handy Total % Owned 5.0 17.0 6.0 28.0 87.5% Bareboat chartered 1.0 2.0 0.0 3.0 9.4% Time chartered-in short-term 0.0 1.0 0.0 1.0 3.1% TOTAL 6.0 20.0 6.0 32.0 100.0% • DIS controls a modern fleet of 32.0 product tankers.
Slide 8: Lighter bank debt repayments and low refinancing risk
Lighter bank debt repayments and low refinancing risk. Forecasted bank debt financing cash-flow Daily bank loan repayment on owned vessels (Excluding overdraft facilities)1,2,3 (Excluding overdraft facilities)1,2,3 US$/mm US$/mm US$/mm US$/day 70 60 7,000 60.9 150 6,147 60 66.2 50 50 6,000 100 - 40
Slide 9: Q2'25 estimated TCE earnings
Q2’25 estimated TCE earnings1. Q2’25 fixed days Q2’25 potential blended TCE TCE US$/day % of ‘fixed days’ TCE US$/day 24,000 90% 23,400 78% 23,800 80% 23,200 70% 23,000 23,600 60% 22,800 23,400 51% 50% 22,600 23,200 40% 22,400 23,000 27% 30% 22,200 22,800 20% 22,000 22,600 10% 22,321 22,754 23,188 2
Slide 10: Strong earnings outlook
Strong earnings outlook. Estimated fleet evolution (avg. n. of vessels)1 Potential upside to earnings2 N. of ships (based on ‘available days’) US$/mm 35 32.2 32.0 32.8 40 2.7 2.0 2.0 30 35 0.5 30 25 25 20 20 15 30.0 30.8 28.9 32.9 15 26.9 10 10 5 5 10.1 9.0 11.0 3.4 0 0 FY 2025 FY 2026 FY 2027 FY 20
Slide 11: Temporary cost pressure
Temporary cost pressure. Daily operating costs – owned and General & administrative costs – total fleet bareboat vessels1 US$/day US$/m 9,000 7.0 8,000 6.0 7,000 5.0 6,000 5,000 4.0 4,000 8,462 7,465 7,697 7,841 3.0 6.0 7,172 6,949 7,224 6,973 5.2 3,000 2.0 4.0 4.2 2,000 3.4 3.3 3.3 3.4 1.0 1,000 0
Slide 12: Financial results. Q1'25 Net financial position
Financial results. Q1’25 Net financial position (US$ million) Dec. 31st, 2024 Mar. 31st, 2025 Gross debt (285.5) (277.2) IFRS 16 – additional liabilities (3.4) (2.3) Cash and cash equivalents 164.9 163.1 Other current financial assets1 3.0 2.4 Net financial position (NFP) (121.0) (114.0) Net financi
Slide 13: Financial results. Q1'25 Results
Financial results. Q1’25 Results (US$ million) Q1’24 Q1’25 Non-recurring items: TCE Earnings 104.1 62.9 (US$ million) Q1’24 Q1’25 Total net revenue 105.3 64.1 Result on disposal of vessels (0.3) (0.3) Result on disposal of vessels (0.3) (0.3) Non-recurring financial items (0.1) (0.1) EBITDA 76.1 34.
Slide 14: Financial results. Q1'25 Key operating measures
Financial results. Q1’25 Key operating measures Key Operating Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Measures Avg. n. of vessels 35.5 33.5 33.0 33.0 33.7 32.7 Fleet contact 41.3% 42.5% 43.5% 38.7% 41.5% 39.6% coverage Daily TCE Spot 38,201 44,949 29,679 23,547 33,871 21,154 (US$/d) Daily TC
Slide 15: Strategic priorities and market overview
Strategic priorities and market overview
Slide 16: DIS' CAPEX commitments
DIS’ CAPEX1 commitments. Investment plan US$/mm 250.0 194.6 200.0 3.9 181.0 164.4 7.0 151.1 12.8 0.7 150.0 101.2 115.6 85.3 83.7 79.0 1.0 9.0 100.0 190.7 8.1 2.5 1.4 65.2 63.3 174.0 151.6 150.3 5.2 5.5 41.5 41.8 50.0 100.2 106.6 37.5 27.5 77.1 81.2 77.7 27.4 7.9 60.0 12.0 11.7 3.1 6.8 10.8 30.4 29.8
Slide 17: DIS' purchase options on leased vessels
DIS’ purchase options on leased vessels. Exercised purchase options: Unexercised purchase options: Build Purch. Option Build Purch. Option Purch. First Ex. Option (In/Out Vessel Name Vessel Name Date Delivery Date Date First Ex. Date Obligation Date of the money)7 High Priority 1 Mar-05 Feb-21 High
Slide 18: DIS' purchase options on time-chartered-in vessels
DIS’ purchase options on time-chartered-in vessels. • DIS has also exercised six purchase options on its time-chartered-in vessels, which were all well in the money relative to their current market value. Exercised purchase options (US$ mm)1,2,3: Purch. Est. Market Est Market • Two of these options,
Slide 19: Contracts and modern fleet to drive future results
Contracts and modern fleet to drive future results. Average TC and TC equivalent covered rates1 % of ‘employment days’ US$/day 60% 35,000 • For FY’25, DIS has covered ~49% of its available vessel days 28,936 at an average TC equivalent rate of ~US$ 23.9 thousand. 27,940 • 30,000 50% 24,866 24,010 25
Slide 20: Strong freight rates and resilient asset values
Strong freight rates and resilient asset values. Historical MR TC and spot rates1 Historical MR asset values1 US$/day US$/m 50,000 1 YR TC is currently ~37% below the last cycle 45,000 peak, whilst spot rates reached an all-time 60 NB, 5yr old and 10yr old vessels are 40,000 high in Dec’22 and they
Slide 21: Trade disruptions. Russian refined product exports
Trade disruptions. Russian refined product exports1 Russia’s refined product exports by destination Russia’s refined product exports Million barrels per day Million barrels per day 3.5 3.5 3.0 3.0 2.5 2.5 2.0 2.0 1.5 1.5 1.0 1.0 0.5 0.5 0.0 0.0 Nov-22 Dec-24 Nov-21 Dec-21 Dec-22 Nov-23 Dec-23 Nov-24
Slide 22: Trade disruptions. Red Sea attacks
Trade disruptions. Red Sea attacks Voyage duration increase on key trades (sea-days)2 Voyage duration increase on key trades (%)2 60 50 Ventspils - Singapore +32.4% 50 45 43 42 40 41 Singapore - Amsterdam +35.5% 38 40 34 30 30 31 30 28 Sikka - New York +37.3% 24 23 20 Ventspils - Jubail +53.6% 10 Si
Slide 23: Trade disruptions. CPP Cannibalization
Trade disruptions. CPP Cannibalization Uncoated share of long haul CPP trade1 Gasoil around the Cape of Good Hope2 Million tonnes Uncoated share Thousand of tonnes 7,000 80 14% 6,000 70 12% 5,000 60 10% 50 4,000 8% 40 3,000 6% 30 4% 2,000 20 10 2% 1,000 - 0% - Q1-07 Q1-10 Q1-13 Q1-16 Q4-04 Q3-05 Q2-
Slide 24: Trade disruptions. Sanctions
Trade disruptions. Sanctions US sanctioned tankers1 Total sanctioned tankers1 Number of vessels Number of vessels % on total tankers (dwt) 350 400 364369 12% 306 312 348 290 323 300 278 350 10% 300 250 248257 8% 186 250 209 200 155 164 200 179 6% 134 150 110 114 121 121 126 129129 127131137 147 9.6%
Slide 25: Trade disruptions. US Port fees on Chinese built vessels
Trade disruptions. US Port fees on Chinese built vessels Tankers on water1 Tankers on order1 100% 100% 90% 90% 23% 18% 19% 29% 80% 80% 38% 50% 70% 61% 70% 69% 74% 73% 72% 60% 78% 60% 50% 50% 40% 40% 77% 82% 81% 71% 30% 30% 62% 50% 20% 39% 20% 31% 26% 27% 28% 10% 22% 10% 0% 0% VLCC Suez/LR3 Afra/LR2
Slide 26: Oil demand and refining throughputs rising tepidly
Oil demand and refining throughputs rising tepidly. Global oil demand1 Global refinery throughputs1 Million barrels per day Million barrels per day 105.0 104.5 85.0 104.0 83.8 84.0 104.0 103.7 84.0 103.2 83.3 83.2 83.3 83.3 83.1 82.9 83.3 103.0 102.4 103.5 83.0 82.4 82.5 83.6 83.4 102.7 103.1 81.8 8
Slide 27: Abundant oil supply growth
Abundant oil supply growth. World oil production1 ‘25 average changes Million barrels per day 106.0 105.0 0.3 104.3 104.0 0.2 0.2 0.1 0.5 103.0 0.1 103.0 102.3 -0.1 102.0 101.0 100.0 99.0 98.0 97.0 96.0 95.0 FY'23 avg FY'24 avg Russia OPEC+ USA Canada Brazil Guyana Others FY'25 avg excl Russia • In
Slide 28: Low inventories and emerging contango
Low inventories and emerging contango. Crude oil price (Brent, US$ bbl), forward curve1 CPP vs DPP and crude oil floating storage2 Million barrels 65 350 64.1 325 300 64 63.7 63.8 275 63.7 250 63.5 63.5 225 63.3 63.3 63.3 63.4 63.2 63.2 200 175 150 63 125 100 75 50 25 62 0 DPP CPP OECD industry refi
Slide 29: Rising refining margins
Rising refining margins. Refining cracks, Rotterdam CIF or Barge FOB vs US Gulf Coast refining margins1 Brent1 $/barrel $/barrel 50 35 30 40 25 30 20 20 15 10 10 5 0 Jan-24 Jun-24 Jul-24 Jan-25 Mar-24 Mar-25 Feb-24 Aug-24 Nov-24 Dec-24 Feb-25 Sep-24 Apr-24 May-24 Oct-24 Apr-25 May-25 0 Nov-24 Dec-24
Slide 30: Naphta to lead oil demand growth in '25
Naphta to lead oil demand growth in ‘25. % Change in number of commercial Jet fuel & Kerosene demand 2021-2025 Global demand growth by product flights vs. 20191 (kbpd)2 2025 (kbpd)2 Thousand barrels/day Y-O-Y growth Thousand barrels 30% 8,000 25% 20.1% Naphtha +224 15% 7,000 20% 6,000 16.2% Motor Ga
Slide 31: Growing Chinese Naphta imports
Growing Chinese Naphta imports. Chinese Naphta imports1 Thousand barrels/day 450 400 350 300 250 200 150 100 50 0 Jan-22 Jan-17 Jan-18 Jan-19 Jan-20 Apr-20 Jan-21 Jan-23 Jan-24 Jan-25 Jul-17 Jul-18 Jul-19 Jul-20 Jul-21 Jul-22 Jul-23 Jul-24 Apr-17 Apr-18 Apr-19 Apr-21 Apr-22 Apr-23 Apr-24 Apr-25 Oct-
Slide 32: Support expected also from crude tanker market
Support expected also from crude tanker market1. Coated LR2 fleet: clean vs. dirty trading1 Crude tankers’ orderbook % Fleet (dwt)2 100% 1% 1% 1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 50.0% 90% 45.0% 80% 37% 40% 38% 39% 36% 40% 37% 39% 40% 46% 44% 43% 40.0% 70% 35.0% 60% 50% 30.0% 40% 25.0% 30% 63% 60% 62% 61%
Slide 33: Longer-term demand. Changes in the refinery landscape
Longer-term demand. Changes in the refinery landscape Net refinery capacity additions by year ‘23-’271 % of net refinery capacity Thousand barrels/day 1,500 additions ‘25-’271 60.0% 1,300 50.0% 1,100 900 40.0% 700 30.0% 57.4% 500 20.0% 300 31.6% 10.0% 19.4% 100 4.1% 3.2% 3.5% 0.0% 2023 2024 2025 202
Slide 34: Growing pool of demolition candidates
Growing pool of demolition candidates. Fleet composition by age (MRs and LR1s)1 Fleet composition by age (All tankers)1 47.3% 60% 54.4% 55.9% 50% 44.9% 50.2% 51.3% 45% 40.3% 41.6% 50% 42.2% 40% 34.0% 40% 35% 34.6% 29.7% 30% 25.7% 27.0% 28.4% 22.9% 30% 25.0% 25% 19.8% 18.8% 19.5% 20.8% 18.2% 18.3% 18
Slide 35: Low deliveries in H1'25 and recent uptick in demolitions
Low deliveries in H1’25 and recent uptick in demolitions. All tankers deliveries, 2024-20251 90 80 70 35 N. Of vessels 60 50 40 23 17 18 30 48 20 24 25 26 10 0 Q1'25 Q2'25 Q3'25 Q4'25 Estimated deliveries MR and LR1 Estimated deliveries all other tankers All tankers demolitions, 2018-20241 60 50 N.
Slide 36: Sharp drop in newbuild orders in '25 to date
Sharp drop in newbuild orders in ‘25 to date. MR newbuilding parity curve vs MR & LR1 orders2 second-hand values1 Period end US$ Million N. of vessels orderbook/fleet ratio 55.0 50.0 250 70% 50.0 61% 45.0 60% 40.9 200 40.0 47% 41.0 50% 35.0 31.9 30.0 150 31.0 40% 31% 25.0 22.8 30% 20.0 100 21.0 21%
Slide 37: Accelerating but manageable fleet growth
Accelerating but manageable fleet growth. MR & LR1 deliveries and scrapping (m dwt) (lhs), and net MR & LR1 fleet age profile1 fleet growth (%)1 (rhs) Million Dwt Million Dwt and % of current fleet 12 14% 80 12.7% 51.3% 10 11.9% 12.0% 12% 70 8 10.0% 9.7% 10% 9.2% 60 8% 6 50 6% 4 4.8% 4.5% 4.1% 4.5%
Slide 38: Why invest in DIS
Why invest in DIS
Slide 39: Historical NAV evolution
Historical NAV evolution. DIS’ Historical NAV evolution1,2,3 US$/m US$/share 1400 14.00 20 1200 1150 12.00 39 5 30 1026 9.81 9.76 993 1000 9.65 10.00 8.92 8.62 8.23 7.84 767 800 7.55 8.00 6.94 6.27 6.24 600 5.58 5.54 6.00 4.21 4.44 406 3.98 4.19 400 348 3.51 3.56 340 3.63 4.00 327 3.12 309 286 2.75
Slide 40: Potential use of funds
Potential use of funds (excluding cash returned to shareholders). Potential use of funds for investments and lease reimbursements US$/mm 500.0 450.0 62.0 424.8 400.0 44.7 350.0 174.0 318.2 300.0 250.0 200.0 150.0 59.2 127.5 16.7 144.2 100.0 33.9 50.0 34.3 - Q1'25 ROY'25 ROY'25 FY'25 FY'26 FY'25-'26
Slide 41: Increasing shareholder returns
Increasing shareholder returns. Cash returned to shareholders Financial Leverage (NFP to FMV) US$/mm % 200.0 70.0% 60.4% 60.0% 150.0 50.0% 100.0 192.2 188.5 40% 40.0% 36.0% 30% 134.9 50.0 16% 30.0% 65.1 50.0 18.0% 22.0 7.1 10.3 18.9 20.0% - 9.7% 10.0% -37.3 FY'21 FY'22 FY'23 FY'24 Q1'25 10.0% -50.0
Slide 42: DIS' fleet. Focus on enhanced technical efficiency
DIS’ fleet. Focus on enhanced technical efficiency. Propeller Rudder Wake OPS (Onshore Speed/ Prop. Propeller Low Preswirl Eco EPL (Engine • Ships boss cap Duct Fins with Bulb Equal. Led power power silicon ultrasonic friction DIS aims to increase the vane nozzles Power Limit) fins and fins Duct sup
Slide 43: DIS' fleet. Operational efficiency improvements
DIS’ fleet. Operational efficiency improvements. Tekomar Cutting of CBM (Condition Biofouling Hull full blasting Ships Health check Prop. cleaning Users based maintenance) Risk management age above 10Y Glenda Melody for C02 reduction • On the operational side, DIS' Fleet Glenda Meryl has adopted mea
Slide 44: Why invest in DIS today
Why invest in DIS today. • Young-fleet, most of which acquired at historically attractive prices and at top-tier yards. Furthermore, vessels are mostly eco-design (84% of owned and bareboat ships) and IMO classed (81% of owned and bareboat ships). • First-class in-house technical management provides
Slide 45: DIS' ESG
BA INTERNATIONAL SHI Wa 73
Slide 46: DIS' Purpose and Values
DIS’ PURPOSE and VALUES. Long-term vision, Family tradition and Business Ethics Innovation Our sustainable business model pursues the goal of Inspired by the values of our family, we build our creating value and generating a positive impact on the business with a long-term view, focusing on innovati
Slide 47: DIS' ESG. Key figures
DIS’ ESG. Key figures ENVIRONMENTAL VALUE 2024 1 EEXI Compliant ships (as at year-end) 100.0% CII 6.31 IMO classed fleet % (as at year-end)2 81.8% Fleet age (years) 9.2 Fleet certified for the use of Biofuel blends up to B30 (%) (as at year-end) 100% Fleet with installed water ballast treatment syst
Slide 48: DIS' ESG. Environment and Safety
DIS’ ESG. Environment and Safety DIS seeks to be an industry leader on environmental and safety issues: • Among the first fleets worldwide compliant with Monitoring Reporting and Verification criteria for CO2 emissions. • Since 2011 DIS has a fleet performance monitoring department to optimize vesse
Slide 49: DIS' ESG. Environmental KPIs
DIS’ ESG. Environmental KPIs EEDI compliance (owned and bareboat) – at year-end Pre-EEDI Phase 1 Phase 2 Phase 3 EEDI compliant ships (%) 16.7% 0.0% 66.7% 16.7% EEXI compliance (owned and bareboat) - at year-end 2024 EEXI compliant ships (%) 100.0% Fleet certified for the use of Biofuel blends up to
Slide 50: DIS' ESG. Corporate Governance
DIS’ ESG. Corporate Governance DIS is listed on the most demanding segment of the Milan stock exchange (the Star), and has therefore adopted a first-class corporate governance framework: • Incorporated in Luxembourg, it is organized and governed in compliance with Luxembourg laws • Listed on the STA
Slide 51: DIS' ESG. Social responsibility
DIS’ ESG. Social responsibility DIS seeks a diverse and inclusive work environment, where teamwork is highly valued. The high levels of employee satisfaction result in high retention rates. • 26 onshore personnel as at 31 December 2024; • 657 seagoing personnel as at 31 December 2024; • 100% retenti
Slide 52: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable DIS’ Sustainable DIS’ Sustainable Sustainability Development Sustainability Development Sustainability Development Topics Goals Topics Goals Topics Goals Vessel energy Integrated Ship recycling efficiency management system for ongoing improvement
Slide 53: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable Activity performed by DIS Sustainability Topics Development Goals Vessel energy efficiency • Renewal of the fleet with “Eco” vessels, in line with IMO directives, thanks to the implementation of innovative technologies. Innovation: • Projects aime
Slide 54: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable Activity performed by DIS Sustainability Topics Development Goals Integrated management • Transparent statement of policies governing operations on board managed ships - in system for ongoing order to ensure safety and efficiency - and of the meth
Slide 55: UN's Sustainable Development Goals
UN’s SUSTAINABLE DEVELOPMENT GOALS. DIS’ Sustainable Activity performed by DIS Sustainability Topics Development Goals Ship recycling • Preparation of hazardous material inventories on all new buildings and on the existing fleet. Stakeholder engagement • Stakeholder mapping and detection of needs an
Slide 56: Appendix
Appendix
Slide 57: DIS' Shareholdings Structure
DIS’ Shareholdings Structure. Key Information on DIS’ shares 3 1. d'Amico International SA 60.66% 2. Others 35.13% 2 3. d'Amico International Shipping SA 4.21% 100.00% 1 Listing market Borsa Italiana, STAR No. of shares issued 124,106,556 Market capitalisation1 €388.7 million Shares repurchased / %
Slide 58: d'Amico Group Structure
d’Amico Group Structure. 100% d’Amico Società di Navigazione Spa d’Amico International S.A. 100% 100% d’Amico Ship Ishima Pte Ltd Management S.r.l. 85% 76.9% Rudder S.A.M. Sirius Ship Management S.r.l. 100% d’Amico Dry d.a.c. 60.66% d’Amico International Shipping S.A. 100% d’Amico Tankers d.a.c. 100
Slide 59: IMO (MEPC 76): CII and EEXI
IMO (MEPC 76): CII and EEXI In June 2021, IMO's Marine Environment Protection Committee (MEPC 76) adopted amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI that will require ships to reduce their greenhouse gas emissions. These amendments combine
Slide 60: IMO (MEPC 80): Net zero by 2050
IMO (MEPC 80): Net zero by 2050 In July 2023, IMO's Marine Environment Protection Committee (MEPC 80) has set more ambitious targets compared with the Initial IMO Strategy on Reduction of GHG Emissions from Ships. The new targets consider the Well-to-Wake (WtW) GHG emissions of marine fuels, as addr
Slide 61: IMO (MEPC 83): Approval of Net-Zero Framework
IMO (MEPC 83): Approval of Net-Zero Framework The 83rd session of the International Maritime Organization’s Marine Environment Protection Committee (MEPC 83), held from 7 to 11 April 2025, marked a pivotal advancement in maritime environmental regulation. Key decisions were made to align internation
Slide 62: EU Emission Trading System (ETS) and Fuel EU
EU Emission Trading System (ETS) and Fuel EU. The European Commission has recently published a set of legislative proposals to enable the EU to attain its 2030 target of reducing its greenhouse gas emissions by at least 55% by 2030 compared with 1990 levels. In particular, the EU Commission included
Slide 63: DIS' estimated sensitivity to interest rates
DIS’ estimated sensitivity to interest rates1. (US$ million) FY’25 FY’26 FY’27 Estimated average bank debt (205.4) (178.8) (195.9) Estimated average hedged bank debt 59.6 24.1 - Estimated average unhedged bank debt (145.9) (154.7) (195.9) Assumed average cash & equivalents 100.0 100.0 100.0 Estimate
Slide 64: Financial results. Consolidated Income Statement
Financial results. Consolidated Income Statement US$ Thousand Q1 2025 Q1 2024 Revenue 88,575 132,161 Voyage costs (25,688) (28,096) Time charter equivalent earnings 62,887 104,065 Bareboat charter revenue 1,202 1,215 Total net revenue 64,089 105,280 Time charter hire costs - - Other direct operating
Slide 65: Financial results. Consolidated Balance Sheet
Financial results. Consolidated Balance Sheet As at As at As at As at US$ Thousand US$ Thousand 31 March 2025 31 December 2024 31 March 2025 31 December 2024 ASSETS SHAREHOLDERS' EQUITY AND LIABILITIES Property, plant and equipment and Right-of-use Share capital 62,053 62,053 827,037 801,767 assets
Slide 66: Financial results. Consolidated Cash Flow Statement
Financial results. Consolidated Cash Flow Statement US$ Thousand Q1 2025 Q1 2024 US$ Thousand Q1 2025 Q1 2024 Profit for the period 18,866 56,340 Acquisition of Property, plant and equipment (37,476) (4,873) Depreciation 12,675 15,662 Net cash flow from investing activities (37,476) (4,873) Income t
Slide 67: DIS' Current Fleet Overview. LR1 & MR Fleet
DIS’CURRENT FLEET OVERVIEW. LR1 & MR Fleet Owned - LR1 Tonnage (dwt) Year Built Builder, Country Interest1 IMO Classified 2 Bright Future 75,000 2019 Hyundai MIPO, South Korea (Vinashin) 100% - Cielo di Cagliari 75,000 2018 Hyundai MIPO, South Korea (Vinashin) 100% - Cielo Rosso 75,000 2018 Hyundai
Slide 68: DIS' Current Fleet Overview. Handy Fleet
DIS’CURRENT FLEET OVERVIEW. Handy Fleet Owned Tonnage (dwt) Year Built Builder, Country Interest1 IMO Classified Cielo di Salerno 39,043 2016 Hyundai MIPO, South Korea (Vinashin) 100% IMO II/IMO III Cielo di Hanoi 39,043 2016 Hyundai MIPO, South Korea (Vinashin) 100% IMO II/IMO III Cielo di Capri 39
Slide 69: DIS' New Building Program
DIS’NEW BUILDING PROGRAM. Owned Estimated tonnage (dwt) Estimated delivery date Builder, Country Interest1 MR/Handysize/LR1 YZJ2024-1642 – Tbn 75,000 Q3-2027 Jiangsu New Yangzi Shipbuilding, China 100% LR1 YZJ2024-1643 – Tbn 75,000 Q4-2027 Jiangsu New Yangzi Shipbuilding, China 100% LR1 YZJ2024-1644
Slide 70: Thank you!
Thank you!
d'Amico International Shipping — Q1 2025 Earnings Presentation on 6ix