CMB.TECH NV Ordinary Shares (CMBT) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

And welcome to the CMB Tech Earnings Conference Call for the fourth quarter of 2025. My name is Alexander Severis, and I'm joined here by my colleagues, Joris, Enya, and Ludovic. We will touch upon our classic topics. We'll start with our financial highlights. We will then give you a market update and finish with a conclusion and a Q&A. And for the financial highlights, I'd like to hand it over to Ludovic. Thanks, Alex, and good afternoon, everybody. As usual, we start with a snapshot of our company, where here we've shown you the key metrics of the fleet, roughly 40 ships with about a $10.7 billion fair market value. This is excluding the vessels we have sold already. Our market cap sits today at $4.2 billion after a nice run-up on the share. We have $1.5 billion capex remaining as from end of January and operate a modern fleet of 5.9 years. Drywall today is predominantly 60% of our total fair market value, with the other divisions showing the rest of the value of the fleet. zooming in on the highlights of the q4 we had a net profit of 90 million dollars that bring the full year profits to 140 and the evda of this quarter was uh 322 million to end the year on a 943 million uh evda our liquidity sits at a pretty strong 560 million And our covenants for the bonds on the equity on total assets is at 31%, and for the rest of our loan agreements at 44%. We've had a pretty remarkable Q4 where we were able to deliver the company at the same time, pay dividends again, which we'll discuss later, and strengthen the balance sheets with a couple of actions that we've performed in the company. Running through it, the result I mentioned, 90 million, we had some non-recurring one-off and sometimes even non-cash impacts on the results. which are mostly related to the finalization o...