Okeanis Eco Tankers (NYSE:ECO) Q4 2025 Earnings call February 19, 2026 08:30 AM ET Speaker6Welcome to OET's fourth quarter 2025 financial results presentation. We will begin shortly. Aristidis Alafouzos, CEO, and Iraklis Sbarounis, CFO of Okeanis Eco Tankers, will take you through the presentation. They will be pleased to address any questions raised at the end of the call. Matters that are forward-looking in nature will be discussed, and actual results may differ from the expectations reflected in such for ...

This presentation (this "Presentation") has been prepared by Okeanis Eco Tankers Corp. ("OET or the "Company"). This Presentation does not constitute or form part of, and should not be construed as, an offer to sell or an invitation, solicitation, or inducement to purchase or subscribe for securities with respect to any transaction, nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This Presentation does not constitute either advice ...

Core Viewpoint - Okeanis Eco Tankers Corp. has declared a dividend of USD 1.55 per common share, with specific payment details for shareholders registered in different exchanges [1][6]. Dividend Declaration - The dividend amount is set at USD 1.55 per common share, payable in NOK for shares registered in Euronext VPS [6]. - The Board approved the dividend on February 18, 2026 [6]. Payment and Ex-Dividend Dates - Last day including right on OSE is February 27, 2026, and on NYSE is March 2, 2026 [6]. - Ex-dividend date for OSE is March 2, 2026, and for NYSE is March 3, 2026 [6]. - Record date for both exchanges is March 3, 2026, with payment expected on March 10, 2026 [6]. Company Overview - Okeanis Eco Tankers Corp. is a leading international tanker company specializing in the transportation of crude oil and refined products [4]. - The company operates a fleet of eight modern scrubber-fitted Suezmax tankers and eight VLCC tankers [4].

Financial Performance Summary - The company reported revenues of $126.9 million for Q4 2025, a significant increase from $85.2 million in Q4 2024, representing a growth of approximately 49% [6] - Profit for Q4 2025 was $59.5 million, compared to $13.2 million in Q4 2024, indicating a substantial increase of over 350% [6] - For the twelve-month period ending December 31, 2025, revenues were $391.5 million, slightly down from $393.2 million in 2024 [6] - The profit for the twelve months was $123.0 million, up from $108.9 million in 2024, reflecting an increase of about 13% [6] Operating Expenses and Earnings - Vessel operating expenses for Q4 2025 were $11.5 million, compared to $9.6 million in Q4 2024 [6] - Earnings per share for Q4 2025 were $1.76, a significant rise from $0.41 in Q4 2024 [6] - For the twelve-month period, earnings per share were $3.77, compared to $3.38 in 2024, marking an increase of approximately 12% [6] Dividend Declaration - The board of directors declared a dividend of $1.55 per common share, payable on March 10, 2026, to shareholders of record as of March 3, 2026 [4] - The common shares will trade ex-dividend on the NYSE from March 3, 2026, and on the Oslo Stock Exchange from March 2, 2026 [4] Alternative Performance Metrics - Time charter equivalent (TCE) revenue for Q4 2025 was reported at $92.9 million [6] - EBITDA and Adjusted EBITDA for Q4 2025 were $79.3 million and $79.0 million, respectively [6] - Adjusted profit for Q4 2025 was $59.9 million, with adjusted earnings per share of $1.78 [6] Fleet and Market Development - The fleetwide daily TCE rate was $76,700 per operating day in Q4 2025, with VLCC and Suezmax TCE rates at $92,000 and $53,100 per operating day, respectively [6] - As of Q1 2026, 67% of available VLCC spot days have been booked at an average TCE rate of $104,200 per day, and 64% of available Suezmax spot days at an average TCE rate of $84,600 per day [6]

Core Viewpoint - Okeanis Eco Tankers Corp. (OET) will report its unaudited condensed financial results for Q4 and the full year ending December 31, 2025, on February 18, 2026, with a subsequent webcast on February 19, 2026 [1] Company Overview - OET is a leading international tanker company specializing in the seaborne transportation of crude oil and refined products [2] - The company was incorporated on April 30, 2018, under the laws of the Republic of the Marshall Islands and is listed on both the Oslo Stock Exchange (OET) and the New York Stock Exchange (ECO) [2] - The fleet consists of eight modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers [2]

Market Overview - The U.S. stock market opened with mixed sentiment as investors reacted to corporate earnings and easing geopolitical tensions [1] - Major indices showed modest movements, with a notable rotation from mega-cap technology stocks towards small-cap companies [1] Major Market Indexes - The S&P 500 rose 0.05% to 6916 points, recovering from earlier losses, but is down 0.4% for the week [2] - The Dow Jones Industrial Average (DJIA) closed at 49,384.01 after a 0.6% increase, nearing the psychological 50,000 mark [3] - The Nasdaq Composite, after a 0.9% gain to close at 23,436.02, experienced a subdued open, indicating a shift in investor focus [4] Small-Cap Performance - Small-cap ETFs have led the market rally with year-to-date gains exceeding 7%, contrasting with the flat performance of mega-cap tech ETFs [4] - The Invesco S&P 500 Equal Weight ETF (RSP) climbed 3.3%, attracting significant fresh capital, signaling broader market recovery interest [4] Upcoming Earnings - The fourth-quarter 2025 earnings season is underway, with S&P 500 companies expected to report an earnings growth of 8.8% year-over-year, potentially reaching around 12% [6] - Key companies reporting today include Schlumberger Limited, Ericsson, and Capital One Financial, among others [6][7] Economic Indicators - Today's focus includes preliminary PMI data and final January Consumer Sentiment figures, with further insights expected next week [8] - The Personal Consumption Expenditures (PCE) index is projected to show a 0.2% month-over-month increase, with year-over-year readings at 2.8% [9] Corporate Developments - Intel shares fell 13% in premarket trading after a weaker-than-expected first-quarter outlook, despite surpassing fourth-quarter earnings estimates [14] - TikTok finalized a deal to avert a U.S. ban, involving a joint venture with Oracle and retaining a 19.9% stake for ByteDance [14] - Capital One Financial's shares declined after announcing the acquisition of fintech startup Brex for $5.15 billion while missing fourth-quarter earnings estimates [14] - Amazon is reportedly planning layoffs across various divisions, although its shares remained relatively unchanged [14] - Microsoft is noted for its sluggish performance, contributing to the drag on traditional market-cap-weighted indices, while Nvidia remains a focus for investors [14]

Group 1 - U.S. stock futures showed mixed results, with Dow futures declining approximately 0.1% [1] - Netflix reported fourth-quarter financial results that exceeded expectations but provided first-quarter guidance that fell short of estimates, leading to a significant drop in its stock price [2] - Netflix anticipates first-quarter revenue of $12.16 billion, slightly below the consensus estimate of $12.19 billion, and expects earnings per share of 76 cents, which is below the consensus estimate of 81 cents [2] Group 2 - Erasca Inc shares fell 6.2% to $9.20 following the announcement of a proposed public offering of $150 million [3] - Telix Pharmaceuticals experienced a 5.8% decline to $7.28, despite an analyst maintaining a Buy rating with a $20 price target [3] - Corvus Pharmaceuticals saw a 5.6% drop to $20.22 after commencing a $150 million offering of common shares and pre-funded warrants [3] - BIOAGE Labs Inc shares decreased by 5.6% to $20.13 after announcing a $75 million stock offering [3] - Kraft Heinz Co shares fell 5.3% to $22.51 after Berkshire Hathaway filed to sell up to 325 million shares of the company [3] - NovaBay Pharmaceuticals Inc shares dropped 5.2% to $6.16, following a 56% decline on Tuesday due to a $100 million ATM equity program announcement [3] - Okeanis Eco Tankers Corp shares decreased by 4.8% to $37.00 in pre-market trading [3]

Core Viewpoint - Okeanis Eco Tankers Corp. has successfully priced an offering of 3,611,111 new shares at USD 36.00 per share, raising approximately USD 130 million for vessel acquisitions and general corporate purposes [1][2]. Group 1: Offering Details - The offering consists of 3,611,111 new shares priced at USD 36.00 each, raising gross proceeds of about USD 130 million [1]. - The net proceeds will be partially used for acquiring two newbuilding Suezmax vessels, each priced at USD 99.3 million, currently under construction [2]. - The vessels are expected to be delivered in the second quarter of 2026, contingent upon obtaining necessary debt financing [2]. Group 2: Allocation and Trading - Notification of allocation is expected on January 21, 2026, around 13:00 CET [3]. - The offering is anticipated to be completed by January 23, 2026, with shares available for trading on the New York Stock Exchange post-settlement [4]. Group 3: Compliance and Registration - The offering complies with the equal treatment obligations under the Norwegian Securities Trading Act [5]. - It is made pursuant to the Company's shelf registration statement declared effective by the SEC on May 21, 2025 [6]. Group 4: Company Overview - Okeanis Eco Tankers Corp. is a leading international tanker company providing seaborne transportation of crude oil and refined products, incorporated in 2018 and listed on both the Oslo Stock Exchange and the New York Stock Exchange [12].

Core Viewpoint - Okeanis Eco Tankers Corp. provides a commercial update on its fleet's Daily Time Charter Equivalent Rate (Daily TCE Rate), highlighting recent vessel deliveries and anticipated revenue performance for Q4 2025 and Q1 2026 [1][2][4]. Fleet and Vessel Updates - The company successfully delivered two new Suezmax vessels, Nissos Piperi and Nissos Serifopoula, on January 8 and January 14, 2026, respectively [2]. - The fleet consists of eight modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers [8]. Daily TCE Rate Insights - For Q4 2025, the anticipated fleetwide Daily TCE Rate is approximately $75,400 per operating day, with 26% of available fleetwide spot days booked at an average Daily TCE Rate of $106,700 in Q1 2026 [4]. - The anticipated Daily TCE Rate for VLCC vessels in Q4 2025 is approximately $91,300, with 37% of available VLCC spot days booked at an average Daily TCE Rate of $110,100 in Q1 2026 [4]. - For Suezmax vessels, the anticipated Daily TCE Rate for Q4 2025 is approximately $50,800, with 16% of available Suezmax spot days booked at an average Daily TCE Rate of $98,500 in Q1 2026 [4]. Financial Performance Metrics - The calculation of Daily TCE Rate involves dividing revenues (time charter and/or voyage charter revenues) by the number of operating days, which are defined as calendar days minus off-hire days [3][5]. - For Q4 2025, the company reported revenues of $124.03 million, voyage expenses of $31.45 million, and commissions of $1.25 million, resulting in a time charter equivalent revenue of $91.33 million [7]. Reporting and Future Announcements - The company plans to announce its financial results for Q4 2025 on February 18, 2026, with results subject to approval by the Board of Directors [7].

Group 1 - The company Frontline (FRO) was previously analyzed and deemed overvalued compared to Okeanis (ECO) which is preferred [1] - The analyst has a diverse professional background across various industries including logistics, construction, and retail, providing a broad perspective on investment opportunities [1] - The investment strategy focuses on cyclical industries, aiming for significant returns during economic recovery while maintaining a diversified portfolio that includes bonds, commodities, and forex [1] Group 2 - The analyst holds a beneficial long position in ECO shares through stock ownership or derivatives [2]