Mpc Container Ships Asa · OSL:MPCC
Mpc Container Ships Asa — Q2 2025 Earnings Presentation
33 slides from Mpc Container Ships Asa's earnings presentation, Aug 27, 2025
Slide 1: Q2 2025 Earnings Call
August 26, 2025 Q2 2025 EARNINGS CALL Constantin Baack, CEO Moritz Fuhrmann, Co-CEO and CFO
Slide 2: Agenda
AGENDA 01 HIGHLIGHTS 02 MARKET UPDATE 03 COMPANY OUTLOOK MPC Container Ships | Q2 2025 Earnings Presentation | 2
Slide 3: Highlights: Executive Summary
HIGHLIGHTS EXECUTIVE SUMMARY Q2 HIGHLIGHTS: » Strong backlog with 100% of open days covered in 2025, 89% in 2026 and 34% in USD 137.9m Q2 2025 OPERATING REVENUES 2027 » Quarterly dividend of USD 0.05 per share, corresponds to 50% of adjusted net profit USD 80.7m which is in the high end of the range
Slide 4: Financial and Operational Performance
HIGHLIGHTS FINANCIAL AND OPERATIONAL PERFORMANCE PROFIT OR LOSS FINANCIAL KPIs Q2 2025 Q1 2025 Q2 2024 Q2 2025 Q1 2025 Q2 2024 Gross Revenues USD m 137.9 127.1 130.9 Adj. EPS USD 0.11 0.11 0.13 Adj. EBITDA USD m 80.7 66.2 78.0 DPS USD 0.05 0.08 0.10 Adj. Net Profit USD m 48.6 48.2 58.4 Op. Cash Flow
Slide 5: Fleet
HIGHLIGHTS FLEET OPERATIONAL HIGHLIGHTS YTD 2025 CHARTERING OPERATIONS & PROJECTS » Container market continues to be highly supportive, with sustained strong demand for » NCL Nordland delivered in Q2 2025 feeder tonnage » Successful handover of seven vessels sold in Q1 2025 » This positive environme
Slide 6: 4x 4,500 Newbuild Deal Demonstrates On-Going Focus on Fleet Renewal
HIGHLIGHTS 4X 4,500 NB DEAL DEMONSTRATES ON-GOING FOCUS ON FLEET RENEWAL » Contracts have been signed with Chinese SY Taizhou Sanfu Ship Engineering, building on established relationship and processes from 2x 1,300 TEU DF Methanol 1 Shipyard NBs already delivered » Deliveries are scheduled for H2 20
Slide 7: Continued Good Cash Generation Supports Fleet Renewal and Dividends
HIGHLIGHTS CONTINUED GOOD CASH GENERATION SUPPORTS FLEET RENEWAL AND DIVIDENDS CASH FLOW BRIDGE FOR Q2 2025 USD million » Investing Cash flow mirrors our continuous fleet renewal program: » Disposal of less efficient vessels (USD 81m), -17 » Investing in vessels on the water (upgrades and 71 -36 reg
Slide 8: Optimized and Robust Capital Structure to Support Future Growth
HIGHLIGHTS OPTIMIZED AND ROBUST CAPITAL STRUCTURE TO SUPPORT FUTURE GROWTH 1,534 USD million COMMENTS » Successful execution of divestments as well as drawing under new senior secured facilities, improving overall liquidity 485 535 » USD 485m in pro-forma liquidity 359 48 38 72 72 available (includi
Slide 9: Agenda
AGENDA 01 HIGHLIGHTS 02 MARKET UPDATE 03 COMPANY OUTLOOK MPC Container Ships | Q2 2025 Earnings Presentation | 9
Slide 10: Uncertainty Remains Elevated
MARKET UPDATE UNCERTAINTY REMAINS ELEVATED MULTIPLE HEADWINDS CREATED UNPRECEDENTED MARKET VOLATILITY CHARTER RATES UNIMPRESSED BY VOLATILE FREIGHT RATES HARPEX CCFI Geopolitical Flashpoints 2,187 2,200 2,200 » Tensions in the Middle East have escalated in the second quarter. 2,000 Despite occasiona
Slide 11: Asset Prices Hold at Elevated Levels
MARKET UPDATE ASSET PRICES HOLD AT ELEVATED LEVELS ClarksonS Second-hand price Index 140 120 » The sale and purchase (S&P) market remained active in line 100 +56% with the previous quarter, with assets being sold at historically 80 elevated prices 60 40 20 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 J
Slide 12: Increasing Orderbook but Still Insufficient in Smaller Sizes
MARKET UPDATE INCREASING ORDERBOOK BUT STILL INSUFFICIENT IN SMALLER SIZES AGE STRUCTURE OF FLEET AND ORDERBOOK OB as % of % of fleet Segments fleet >20 years >25 82% 0% 17k+ TEU 225 21-25 16-20 11-15 » In MPCC’s core segments of 12k-17k TEU 546 40% 0% 6-10 feeder and mid-size 0-5 containerships, a
Slide 13: Regional Markets Drive Container Demand
MARKET UPDATE REGIONAL MARKETS DRIVE CONTAINER DEMAND DIVERGING GROWTH TRENDS ON THE DEMAND SIDE PROMISING INTRA-REGIONAL DEMAND OUTLOOK CAGR 2024 – 2026 » Growth trends are driven by stronger emerging Mainlane Trades 0.6% markets’ GDP growth outlook than in advanced economies Intra Regional Trades
Slide 14: Market Outlook
MARKET UPDATE MARKET OUTLOOK KEY TOPIC DESCRIPTION » US policies continued to create a volatile container market environment in the second quarter US POLICY » Especially with the uncertainties on tariff announcements, trade flows and demand outlook can be impacted » Tensions intensified between Isra
Slide 15: Agenda
AGENDA 01 HIGHLIGHTS 02 MARKET UPDATE 03 COMPANY OUTLOOK MPC Container Ships | Q2 2025 Earnings Presentation | 15
Slide 16: High Contract Coverage into 2027
OUTLOOK HIGH CONTRACT COVERAGE INTO 2027 BACKLOG OVERVIEW – AS PER AUG’25 NUMBER OF FIXED AND UPCOMING VESSELS – AS PER AUG’25 Forward charter backlog2,3/ Proj. USD 1.2bn / 0.7bn 1yr Redelivery window Open vessels Fixed vessels EBITDA2,3,4 55 55 Contracted forward 4 TCE (USD per day)1,3,5,6 25,801 2
Slide 17: Strong Portfolio Optimization, However, Cont'd Fleet Renewal Required
OUTLOOK STRONG PORTFOLIO OPTIMIZATION, HOWEVER, CONT’D FLEET RENEWAL REQ UIRED Q3 2021 Q2 2025 CAPITAL ALLOCATION & BALANCE SHEET MANAGEMENT REVENUE BACKLOG (USD BN) 1.1 1.2 Commitment to long-term charter strategy and accretive investments, resulting in increased backlog and further improved earn
Slide 18: Fleet Renewal Creating Long Term Value
OUTLOOK FLEET RENEWAL CREATING LONG TERM VALUE OVERVIEW OF MPCC COMPETITORS' SUB 6K TEU SEGMENT FLEET RENEWAL STRATEGY USD > 800m Investment Program MPCC 52 5 57 1 NEWBUILDING PROGRAM Döhle Contships 9x highly efficient & DF vessels (USD ~500m) GSL Navios Seaspan x14 Danaos Costamare Vessel Count 2
Slide 19: Strong Value Proposition: Low Risk & Significant Upside
OUTLOOK STRONG VALUE PROPOSITION: LOW RISK & SIGNIFICANT UPSIDE VALUATION BRIDGE OPEN RATE SENSITIVITY Clarksons 10y Historical Average of USD ~20,100 pd Current Market Rates of USD ~34,300 pd » Current Enterprise value is more than fully covered by the projected EBITDA backlog of USD ~0.7bn and the
Slide 20: Final Remarks
FINAL REMARKS » Strong quarterly performance driven by high fleet utilization and solid operations » Strategic fleet expansion through a newbuilding program of four advanced vessels, supporting long- term growth » Enhanced financial flexibility secured via USD 100 million in loan facilities and a US
Slide 21: Questions & Answers
QUESTIONS & ANSWERS Q2 2025 Earnings Presentation | 21
Slide 22: Appendix
APPENDIX MPC Container Ships | Q2 2025 Earnings Presentation | 22
Slide 23: Charter Backlog Secured in Top Liner Counterparts
APPENDIX CHARTER BACKLOG SECURED IN TOP LINER COUNTERPARTS CHARTER BACKLOG DEVELOPMENT AND COUNTERPARTIES REGIONAL 1% TOP 10 » 93% of revenue backlog with top 10 liners and cargo-backed 7 CARGO-BACKED 18% » More than 2 years average remaining contract duration 75% TOP 20 6% MPC Container Ships | Q2
Slide 24: Overview of Financing Facilities
APPENDIX OVERVIEW OF FINANCING FACILITIES Facility Type Pre-delivery Outstanding 30/06/25 Total capacity Interest rate # Repayment profile Maturity BoComm Sale & Lease back USD 31.4m USD 75m 260bps + SOFR 91 Monthly 1x 1.2m, 24x 0.3m + 22.8m balloon1 Sep. 2027 HCOB RCF USD 0.0m USD 100m /72m 295bps
Slide 25: Calculation of Recurring Dividend for Q2 2025
APPENDIX CALCULATION OF RECURRING DIVIDEND FOR Q2 2025 USD million Q2 2025 (unaudited) 1 Operating revenue 137.9 EBITDA 107.4 Profit for the period 78.2 Adjustment related to vessel sales -26.7 Adjustment related to normalized depreciation -2.8 Adjusted profit for the period 48.6 No. of shares outst
Slide 26: Condensed Consolidated Statement of Profit or Loss
APPENDIX CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS Q2 2025 Q2 2024 YTD 2025 YTD 2024 In USD thousands (unaudited) (unaudited) (unaudited) (unaudited) Operating revenues 137,876 130,899 264,958 278,442 Commissions (3,205) (3,762) (6,196) (7,753) Vessel voyage expenditures (5,221) (3,936) (11
Slide 27: Consolidated Statement of Financial Position
APPENDIX CONSOLIDATED STATEMENT OF FINANCIAL POSITION June 30, 2025 Dec 31, 2024 June 30, 2025 Dec 31, 2024 in USD thousands in USD thousands (unaudited) (audited) (unaudited) (audited) ASSETS EQUITY AND LIABILITIES Non-current Assets Equity Vessels 1,026,324 1,003,460 Share capital 48,589 48,589 Ne
Slide 28: Condensed Consolidated Statement of Cash Flow
APPENDIX CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW YTD 2025 YTD 2024 YTD 2025 YTD 2024 in USD thousands in USD thousands (unaudited) (unaudited) (unaudited) (unaudited) Profit (loss) before income tax 137,754 140,989 Dividends paid (75,548) (115,619) Income tax expenses paid (10,866) - Additions
Slide 29: Fleet Employment Overview
APPENDIX FLEET EMPLOYMENT OVERVIEW MPCC Current No Vessel Cluster Charterer Remark Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Min / Max Fixture (USD/day) 1 AS SIMONE 1,700 grd eco Maersk Eco & Retrofit 21,8551 Sep-25 / Sep-26 2 AS SILJE 1,700 gr
Slide 30: Fleet Employment Overview
APPENDIX FLEET EMPLOYMENT OVERVIEW MPCC Current No Vessel Cluster Charterer Remark Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Min / Max Fixture (USD/day) 26 AS CALIFORNIA 2,800 gls Maersk 24,000 Dec-26 / Feb-27 27 AS ANNE 2,200 grd eco OOCL Eco
Slide 31: Fleet Employment Overview
APPENDIX FLEET EMPLOYMENT OVERVIEW MPCC Current No Vessel Cluster Charterer Remark Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Min / Max Fixture (USD/day) 49 AS MARIE1 4,500 gls Eco Charter rate of USD 31,900 per day Jun-30 / Jul-30 50 AS MAIKE1
Slide 32: Disclaimer
DISCLAIMER This presentation (the “Presentation”) has been prepared by MPC Container ships ASA (the “Company”) for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. Please note that no representation or war
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Mpc Container Ships As — Q2 2025 Earnings Presentation on 6ix