Seanergy Maritime Holdings Corp. · NASDAQ:SHIP

Seanergy Maritime — Q2 2026 Earnings Presentation

18 slides from Seanergy Maritime's earnings presentation, Jul 30, 2026

  1. Slide 1: Second Quarter & First Half 2026 Financial Results Presentation

    Second Quarter & First Half 2026 Financial Results Presentation Seanergy Maritime Holdings Corp. 1

  2. Slide 2: Important Disclosures

    Important Disclosures This document contains forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the Company’s management’s expectations, hopes, beliefs, intentions or strategies regarding the future and other statements that are other than st

  3. Slide 3: Record Earnings Fuel Fleet Renewal & Shareholder Returns

    Record Earnings Fuel Fleet Renewal & Shareholder Returns Strong Profitability Financial Performance Snapshot  Record profitability for the second quarter and first half of 2026  Adj. EPS of $1.32 in 2Q26 and $1.96 in 1H26 Q2 2026 6M 2026 Q2 2025 6M 2025  Supported accelerated fleet renewal while

  4. Slide 4: Delivering Consistent and Meaningful Capital Returns

    Delivering Consistent and Meaningful Capital Returns Since Q4 2021 $54.6 million $8.5 million $10.1 million $35.1 million in regular dividends1 in special dividends in share and warrant in convertible note Q2 2026: $0.35/share buybacks buybacks2 H1 2026: $0.55/share $63.2 million in total ($3.19 per

  5. Slide 5: Strong Commercial Execution & Forward Earnings Visibility

    Strong Commercial Execution & Forward Earnings Visibility Strong Operating Performance Daily TCE vs BCI US$ per day $40,000  Achieved TCE of $32,355/day in Q2 2026 and $35,000 $28,244/day in 6M 2026 $30,000  97% fleet utilization: robust operational efficiency and $25,000 limited off-hire apart fr

  6. Slide 6: Fleet Renewal Program with Prompt Deliveries

    Fleet Renewal Program with Prompt Deliveries  Prompt delivery profile: with four out of eight vessels delivering in 2027, accelerating fleet renewal and supporting earnings capacity from 2027 onward. Vessel Size (dwt) Shipyard Scrubber Target Delivery Price Primeship (NB) 181K Hengli  Q2 2027 $75.

  7. Slide 7: Record Earnings, Strong Liquidity & Prudent Leverage

    Record Earnings, Strong Liquidity & Prudent Leverage  Record profitability in 2Q26 and 1H26, Profitability Q2 2026 6M 2026 supported by strong Capesize market conditions and disciplined commercial execution Net Revenue $55.7m $97.8m  1H26 Adj. EBITDA of $69.6m and net income of Adj. EBITDA1 $41.5m

  8. Slide 8: Strong Cash Flow Supports Growth and Shareholder Returns

    Strong Cash Flow Supports Growth and Shareholder Returns  6M 2026 TCE of $28,244/day, reflects strong market participation and disciplined hedging through fixed-rate conversions.  ~ 69% Adj. EBITDA1 margin & ~ 44% operating cash flow margin, highlight the quality of earnings  Adjusted EPS: $1.32

  9. Slide 9: Conservative Leverage with Secured Growth Funding

    Conservative Leverage with Secured Growth Funding $20.0  Total debt of approx. $298.5m1 with Debt per vessel Millions fleet LTV stable at approx. 42%. $15.0  Debt per vessel of approx. $15.7m vs. $10.0 average market value of $37.3m2; Fleet LTV: 42% $5.0 modest increase reflects planned newbuildin

  10. Slide 10: Well Funded Fleet Renewal Program

    Well Funded Fleet Renewal Program  Funding well advanced: $73m already paid from own funds, $296.5m bilateral pre- and post-delivery financings secured and a €100m unsecured bond issued.  Remaining installments are prudently covered: assuming financing at 60% LTV on market value, a rational and co

  11. Slide 11: Significant Earnings Upside in a Strong Capesize Market

    Significant Earnings Upside in a Strong Capesize Market  Seanergy is positioned to benefit meaningfully from Capesize market strength: 1 With BCI 2026 TCE rate at current FFAs , FY26 - EBITDA should reach ca. $138m With BCI 2026 TCE rate at the levels of 2025 Average, FY26 - EBITDA should reach c

  12. Slide 12: Capesize Demand

    Capesize Demand  China Iron Ore imports: +6.3% YoY in 1H2026. Simandou volume ramp and Brazil project completion within 2H 2026 should be supportive for Capesize ton-mile demand  China Bauxite Imports: +18% Jan-May YoY. Higher usage of imported bauxite versus local are likely to result in continue

  13. Slide 13: Tightening Fleet Supply Amid Environmental Regulations

    Tightening Fleet Supply Amid Environmental Regulations  Low orderbook: OB about 16% of current fleet, compared to 8% of the existing fleet at or above 20 years old  Cape fleet growing older: By 2030, about 1 in 4 vessels will be at least 20 years old assuming zero demolition  Reduced efficiency l

  14. Slide 14: Thank you

    seanergy Thank you

  15. Slide 15: Appendix: Definitions & Reconciliations

    Appendix: Definitions & Reconciliations 15

  16. Slide 16: Definitions

    Definitions Adjusted EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") represents the sum of net income / (loss), net interest and finance costs, depreciation and amortization and, if any, income taxes during a period. EBITDA is not a recognized measurement under U.S.

  17. Slide 17: Reconciliations

    Reconciliations EBITDA Reconciliation Amounts in $ thousands FY 2022 FY 2023 FY 2024 FY 2025 6M 2026 Net (loss)/income 17,239 2,282 43, 472 21,242 35,894 Add: Net interest and finance cost 14,995 20,150 19,437 20,861 8,141 Add: Depreciation and amortization 28,297 28,831 29,695 36,156 18,797 Add: Ta

  18. Slide 18: Reconciliations (Cont'd)

    Reconciliations (Cont’d) Daily TCE Reconciliation Amounts in $ thousands, except for TCE and operating days Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net revenues from 29,666 32,847 32,963 27,153 17

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