CMB.TECH Reports Net Profit of $90.1 Million in Q4 2025
The diversified maritime group CMB.TECH released its Q4 2025 results on Thursday, showcasing a net profit of $90.1 million and the high-priced sale of eight supertankers. The EBITDA for the period reached $322.1 million.
Financial Performance and Non-Recurring Charges
For the fourth quarter of 2025, CMB.TECH recorded a net profit of $90.1 million, or $0.31 per share, compared to $93.1 million or $0.48 per share in the same quarter of 2024. EBITDA stood at $322.1 million, up from $180.4 million in the fourth quarter of 2024. A significant portion of the results was allocated to non-recurring charges related to financial operations: the repayment of the Golden Ocean bridge financing generated an exceptional charge of $13.6 million, primarily due to arrangement and success fees. Refinancing expenses of approximately $11 million were also recorded following the repayment of over $700 million on a $2 billion facility. Flag change operations, totaling 28 in the fourth quarter, temporarily increased operating expenses by about $2.9 million, while other exceptional costs (overhead and taxes) amounted to $15 million.
Dividends and Strategic Dispositions
CMB.TECH declared an interim dividend of $0.16 per share, with payment expected on April 27, 2026. The group has fully repaid the Golden Ocean bridge financing, initially raised to fund the acquisition of a majority stake in Golden Ocean, within a period of less than six months following the merger. This early repayment is expected to generate interest savings of approximately $41.9 million for the fiscal year 2026. In the port operations sector, CMB.TECH sold its stake in the Tankers International Pool to International Seaways, a transaction concluded on January 27, 2026. The group also sold eight supertankers in the fourth quarter of 2025 at exceptionally high prices, generating a total capital gain of about $49.2 million. Additional ships are scheduled to be delivered to new owners in the first and second quarters of 2026.
Expansion in the Chinese Green Ammonia Supply Chain
CMB.TECH has deepened its position in the Chinese green ammonia supply chain by signing an off-take agreement for green ammonia produced by CEEC Hydrogen Energy in Jilin Province and taking a minority stake in Jiangsu Andefu Energy Technology. An Andefu subsidiary is currently constructing a 49,000 cubic meter low-temperature ammonia storage tank in Nanjing, with commissioning scheduled for the first quarter of 2026. An ammonia storage terminal is set to be operational in Panjin in the second half of 2027. Andefu is also preparing ship-to-ship ammonia bunkering operations, with commercial deployment targeted for 2026. Benoit Timmermans, a member of the management board as strategic director, announced his resignation effective May 1, 2026. His responsibilities will be distributed among the other current board members.
