CMB.TECH NV Ordinary Shares (CMBT) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone, and welcome to the CMB Tech Q1 2026 earnings call. My name is Alexandre Sévrys and I'm joined by my colleagues Ludovic Sévrys, Enya Derkinderen and Joris Daman. We will present to you the highlights of our first quarter and the title of this call is Firing on All Cylinders. We had a very interesting quarter, a very good quarter, and we would like to start with some financials and highlights, and I will hand it over to Ludovic. Thanks, Alex. As usual, we will start with a high-level overview of our company. We're active in five different segments, from black belt crew tankers, containers, chemicals, to offshore energy. We had an interesting quarter, as Alex mentioned. Compared to last quarter, our total fair market value has increased. Our market cap has increased. We've reduced our leverage. We've reduced our CapEx commitments and increased our contracts backlog. Next slide, please. If we zoom in on the Q1 financials, we've ended the quarter with a net profit of $368.8 million. Notable in these figures are obviously our increased revenue, but we've been able to, while the quarter passed, deliver quite a bit. and reduced our margins with the banks. And so our net finance expenses decreased from $113 million from last quarter to $81 million this quarter, delivering a very nice profit. The liquidity of the company, NFQ1, stands a little bit above half a billion dollars. And our equity on total assets value adjusted is below 50%, which is our through-the-cycle target. Further zooming in, we have delevered. We are paying dividends and we're strengthening the balance sheet while we are optimizing our fleet through well-timed S&P. Notable on the contract backlog, we have signed one five-year time charter on the Suezmax vessel and extended to nine-y...