Okeanis Eco Tankers Corp. (ECO) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to OET's first quarter 2025 financial results presentation. We will begin shortly. Aristidis Alafouzos, CEO, and Iraklis Sparounis, CFO of Acanis EcoTankers, will take you through the presentation. They will be pleased to address any questions raised at the end of the call via the webcast. I would like to advise you that this session is being recorded. Iraklis will begin the presentation now. Thank you. um welcome to the presentation of vocani's cycle tankers results for the first quarter of 2025. we'll discuss models of the forward-looking nature and actual results may differ from the expectations reflected in such forward-looking statements please read through the relevant disclaimer on slide two starting on slide four and uh the executive summary i'm pleased to present the highlights of the first quarter of 2025. We achieved fleet-wide time-charted equivalent of about $38,500 per vessel per day. Our VFCCs were at $38,000, and our sewage maxes at $39,200. We report adjusted EBITDA of $32.5 million, adjusted net profit of $11.4 million, and adjusted EPS of $0.36. Continuing to deliver on our commitment to distribute value to our shareholders, Our board declared the 12th consecutive distribution in the form of a dividend of $0.32 per share. Total distributions over the last four quarters stood at $2.22 per share, or 91% of our earnings for the period. In slide five, we saw the detail of our income statement for the quarter. TCE revenue stood at $48.6 million. EBITDA was $23.5 million. And reported net income was $12.6 million. or $0.39 per share. Moving on to slide six and our balance sheet, we ended the quarter with $43 million of cash. Our balance sheet debt continues to amortize by approximately $12 million every quarter, now standing at $634 million as of...