CMB.TECH NV Ordinary Shares (CMBT) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.137 Good afternoon, everyone, and welcome to the CMB Tech earnings call for 00:00:05.137 -- 00:00:07.858 the first quarter of 2025. 00:00:08.061 -- 00:00:13.167 My name is Alexander Severis. I'm the CEO of CMB Tech, and I'm joined here today by 00:00:13.167 -- 00:00:18.111 my colleagues Ludovic, Joris, and Enya. 00:00:19.655 -- 00:00:24.862 We want to focus on our first quarter numbers, the financials, and the highlights. 00:00:24.862 -- 00:00:29.596 We also want to say a few words about the CMB Tech and Golden Ocean proposed merger. 00:00:29.596 -- 00:00:34.666 We will say a few words about the decisions that were taken at the IMO meeting a couple 00:00:34.666 -- 00:00:40.217 of weeks ago, and then zoom in on our different marine divisions and give you an update 00:00:40.217 -- 00:00:45.367 on where the market is. To end, as usual, with a conclusion and time for questions 00:00:45.367 -- 00:00:47.588 and answers. 00:00:48.533 -- 00:00:52.445 I would like now to hand it over to our CFO, Ludovic. 00:00:52.445 -- 00:00:54.709 Thanks, Alex, and good afternoon, everybody. 00:00:54.709 -- 00:00:59.237 If we look at the Q1 figures of 2025, 00:00:59.237 -- 00:01:04.386 we end the quarter with a profit of roughly $40 million. 00:01:04.386 -- 00:01:09.976 Excluding capital gains, we would have resulted in a net income of 00:01:09.976 -- 00:01:15.062 minus $6 million. These figures, it's for the first time we 00:01:15.062 -- 00:01:16.644 consolidate 00:01:16.644 -- 00:01:21.691 Golden Ocean from a balance sheet perspective end of March, but from 00:01:21.691 -- 00:01:25.837 a P&L perspective, we consolidate as from the 12th of March. 00:01:25.837 -- 00:01:30.964 So the figures include 19 days of Golden Ocean 00:01:30.964 -- 00:01:32.646 P&L. 00:...