Pacific Basin Shipping Limited (PCFBF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to today's Pacific Basin 2025 Interim Results Announcement Conference Call. I am pleased to present Chief Executive Officer, Mr. Martin Froegaard, and Chief Financial Officer, Mr. Jimmy Ng. For the first part of this call, all participants will be in listen-only mode, and afterwards, there will be a question and answer session. Mr. Froegaard, please begin. Thank you. Welcome, ladies and gentlemen, and thank you for attending Pacific Basin's 2025 Interim Results Earnings Call. As you know, my name is Martin Forgo, CEO of Pacific Basin, and I'm joined by our CFO, Jimmy Ng. Assuming that you have already gone through the presentations, we will highlight key points discussed in it before we proceed to Q&A session. Please turn to slide three. In the first half of 2025, we generated an EBITDA of US$122 million, an underlying profit of $22 million and a net profit of $26 million. This yielded a 3% annualized return on equity and a basic earning per share of 3.9 Hong Kong cents. Our core business contributed US$51 million before overheads compared to $77 million in 2024, while our operating activity contribution increased to $10 million from $8 million in the same period last year. Our net cash increased to $66 million, and our available committed liquidity stands at $550 million. A new seven-year revolving credit facility of $250 million signed in July significantly increases our available liquidity, strengthen our financial capacity and supports our growth strategy. The Board has declared an interim dividend of 1.6 HKD per share which amounts to $10.4 million, or 50% of our net profit for the period, excluding vessel disposal gains, consistent with our distribution policy. Please turn to slide four. Since 2021, we have maintained our commitment to returning to shar...