Okeanis Eco Tankers Corp. (ECO) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

results presentation. We will begin shortly. Aristides Alafouzos, CEO and Herakles Barounis, CFO of Okeanis EcoTankers, will take you through the presentation. And we're pleased to address any questions raised at the end of the call. I would like to advise you that this session is being recorded. Herakles will begin the presentation now. Thank you. Welcome everyone to the presentation of Okeanis EcoTankers results for the second quarter of 2025. We will discuss matters 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 the executive summary. I'm pleased to present the highlights of the second quarter of 2025. We achieved fleet-wide time charter equivalent of about $50,500 per vessel per day. Our VLCCs were almost at 50,000. and our series maxes at $51,500. We report adjusted EBITDA of $47.3 million, adjusted net profit of $26.7 million, and adjusted EPS of $0.83. Continuing to deliver on our commitment to distribute value to our shareholders, our board declared the 13th consecutive distribution in the form of a dividend of $0.70 per share. Total distributions over the last four quarters stand at $1.82 per share, or approximately 9% of our earnings for the period. On slide five, we show the detail of our income statement for the quarter and the first half of 2025. TC revenue for the six-month period stood at 113 million. EBITDA was almost 80 million, and reported net income was over 39 million, or $1.23 per share. Moving on to slide six and our balance sheets, we ended the quarter with 65 million of cash, Balance sheet debt was $631 million. Book leverage stands at 57%, while our market-adjusted net LTV, base...