CMB.TECH NV Ordinary Shares (CMBT) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, good afternoon, and welcome to the earnings conference call for the second quarter of 2026 of CMB Tech. My name is Alexander Savries. I'm the CEO of CMB Tech, and I'm joined by my colleagues, Joris Dammann and Enya Derkindrin. We will start, as always, with our financials and some highlights. And before we do, we give you an overview of the fleet of CMB Tech. You can see that we have 206 vessels on the water with another 26 new buildings coming. Our contract backlog is stable at $3.3 billion. The fleet is young. We have an average age below six years. Our CAPEX commitments, we will discuss a bit later, have now gone down to less than $1 billion. We have a market cap of $5.2 billion, a fair market value of the fleet of $11.2 billion. And for those who might not know, but we are still listed in New York, in Brussels and in Oslo. Our second quarter financials. The title of our press release was Making Hay, Making Hay While the Sun Shines. These are exceptional times for shipping and also exceptional times for CMB Tech. The company has made a profit of $364.4 million in the second quarter. This was on the back of an increased revenue of over $700 million. and an exceptional profit that we made on the sale of assets of 127 million. You can see the other items in our profit and loss that stick out. One of them is the net finance expense, We are reducing our quarterly net finance expense to $76 million, which is a 5% reduction compared to the first quarter. This is led by cheaper refinancings and also just a general repayment of our debt. Our EBITDA stood at $552 million, our liquidity slightly below $400 million. equity on total assets book value stands at above 35% and our equity on total assets value adjusted is now above 50% at 51.5% for the highlights dur...