ATHENS, Greece, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Reference is made to the key information relating to Q2 2024 dividend announced by Okeanis Eco Tankers Corp. ("OET" or the "Company") (NYSE: ECO / OSE: OET) on August 9, 2024. The Company's shares will be traded ex dividend USD 1.10 per common share on the Oslo Stock Exchange from today, August 20, 2024 and on the New York Stock Exchange from tomorrow, August 21, 2024. Contacts Company: Iraklis Sbarounis, CFO Tel: +30 210 480 4200 ir@okeanisecotankers.com In ...

Okeanis Eco Tankers Corp. (NYSE:ECO) Q2 2024 Earnings Conference Call August 9, 2024 8:30 AM ET Company Participants Aristidis Alafouzos - CEO Iraklis Sbarounis - CFO Conference Call Participants Liam Burke - B. Riley Petter Haugen - ABG Bendik Nyttingnes - Clarksons Securities Operator Welcome to OETs Second Quarter 2024 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 plea ...

Revenue Performance - Revenue decreased by $9.2 million to $223.1 million in the six-month period ended June 30, 2024, from $232.4 million in the same period in 2023, primarily due to a decrease in fleetwide daily TCE to $64,254 from $71,416[25]. - Revenue for the six months ended June 30, 2024, was $223.1 million, a decrease of 3.4% from $232.4 million in the same period of 2023[31]. - Total revenue for the six months ended June 30, 2024, was $223,110,983, a decrease from $232,359,933 in the same period of 2023[119]. - Freight revenue for the six months ended June 30, 2024, was $183,616,930, compared to $185,530,482 in 2023, indicating a decrease of approximately 1%[120]. - Total revenue for the six months ended June 30, 2024, was $204,468,964, slightly down from $204,484,668 in the same period of 2023[120]. - Revenue generated in Europe increased to $109,045,145 in 2024 from $96,576,363 in 2023, representing an increase of approximately 13%[122]. - Revenue from North America rose to $30,690,207 in 2024, up from $20,609,204 in 2023, marking an increase of about 49%[122]. Operating Expenses - Voyage expenses increased by $10 million to $62.6 million in the six-month period ended June 30, 2024, compared to $52.7 million in the same period in 2023, attributed to higher spot exposure and bunker fuel costs[26]. - Vessel operating expenses increased by $1.1 million to $23.7 million in the six-month period ended June 30, 2024, compared to $22.6 million in the same period in 2023, mainly due to higher maintenance costs[26]. - General and administrative expenses increased by $2.4 million to $7.7 million in the six-month period ended June 30, 2024, compared to $5.3 million in the same period in 2023, reflecting increased costs associated with U.S. listing and shore-based employee costs[26]. - Total operating expenses increased to $114,336,518, up 13.7% from $100,575,696 in the prior year[75]. Profitability - Profit recorded was $81.1 million in the six-month period ended June 30, 2024, or $2.52 per basic and diluted share, compared to a profit of $104.5 million, or $3.25 per share in the same period in 2023[27]. - Operating profit increased by $23 million to $131.8 million in the six-month period ended June 30, 2024, compared to the same period in 2023[25]. - For the six months ended June 30, 2024, the profit for the period was $81,122,288, compared to $104,541,409 for the same period in 2023, representing a decrease of approximately 22.4%[79]. - Earnings per share decreased to $2.52, down from $3.25 in the previous year[75]. Cash Flow and Financial Position - Cash and cash equivalents at the end of the period increased to $92.8 million as of June 30, 2024, from $80.2 million as of June 30, 2023[42]. - Net cash provided by operating activities for the six months ended June 30, 2024, was $125.3 million, an increase from $114.2 million in the same period in 2023[42]. - Working capital surplus increased to $51.4 million as of June 30, 2024, compared to $32.3 million as of December 31, 2023[39]. - The total outstanding long-term borrowings as of June 30, 2024, amount to $675,490,622, with an average interest rate of 2.35%[94]. - The company’s cash and cash equivalents at the end of the period were $92,798,770, up from $80,173,189 at the end of the same period in 2023, indicating an increase of about 15.5%[79]. Debt and Financing - The company secured a $103.2 million term loan facility with KEXIM Bank to finance the acquisition of vessels Nissos Sikinos and Nissos Sifnos, with a final maturity date of September 20232[46]. - A $125.7 million term loan facility was entered into with the National Bank of Greece to refinance existing indebtedness on vessels Nissos Kythnos and Nissos Donoussa, maturing on May 25, 2029[48]. - The company entered into a $60 million senior secured credit facility for the VLCC vessel Nissos Kythnos, priced at 140 basis points over Term SOFR, maturing in six years[50]. - A $113.0 million senior secured credit facility was established with ABN AMRO Bank to refinance debts on vessels Kimolos, Folegandros, and Nissos Keros, with a final maturity date of June 30, 2028[53]. - The company entered into an $84.0 million senior secured credit facility with CACIB to refinance debts on vessels Nissos Sikinos and Nissos Sifnos, maturing in September 2029[54]. - A $34.7 million senior secured term loan facility was secured to refinance debts on vessel Milos, with a final maturity date in February 2030[55]. - The company established a $31.11 million senior secured credit facility to finance the option to repurchase the Suezmax vessel Poliegos, maturing in six years[56]. Vessel Operations and Acquisitions - The company has a fleet of 14 vessels with an average age of 5 years and an aggregate capacity of approximately 3.5 million deadweight tons[68]. - The company repurchased the vessel Milos in February 2024, ending the previous sale and leaseback agreement[57]. - The company repurchased the vessel Poliegos in July 2024, concluding the prior sale and leaseback arrangement[58]. - Approximately $150.52 million in sale and leaseback agreements were entered into for vessels Nissos Rhenia and Nissos Despotiko[59]. - The company entered into a $145.5 million sale and leaseback agreement for Nissos Kea and Nissos Nikouria, with a charter period of 84 months and a fixed quarterly payment of $909,375 plus a variable amount based on Term SOFR[61]. - A $73.5 million sale and leaseback agreement for Nissos Anafi was established, with a fixed quarterly payment of approximately $1.2 million plus a variable amount priced at 190 basis points over Term SOFR[62]. Dividend Policy - The company has no written dividend policy, and dividend payments will depend on earnings, financial condition, and other factors[69]. - The ability to pay dividends is subject to the discretion of the board of directors and is influenced by the cash flows generated by subsidiaries[71]. - The company distributed dividends of approximately $35.4 million or $1.1 per share in June 2024, classified as a return of paid-in capital[117]. - The company declared a dividend of $1.10 per common share, payable on September 5, 2024, to shareholders of record as of August 21, 2024[125].

ATHENS, Greece, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. ("OET" or the "Company") (NYSE: ECO / OSE: OET), announced today that the Company's board of directors (the "Board") has declared a dividend on its common shares, which is classified as a return of capital for accounting purposes (the "Dividend"). Due to implementation of the Central Securities Depository Regulation ("CSDR") in Norway, shareholders who hold shares registered in Euronext Securities Oslo, the central securities deposi ...

ATHENS, Greece, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (together with its subsidiaries, unless context otherwise dictates, "OET" or the "Company") (NYSE: ECO, OSE: OET) today reported its unaudited condensed financial results for the second quarter and six-month period of 2024, which are attached to this press release. Financial performance of the Second Quarter Ended June 30, 2024 Revenues of $112.0 million in Q2 2024, compared to $119.8 million in Q2 2023. Profit of $39.6 million in Q ...

The market expects Okeanis Eco Tankers Corp. (ECO) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand ...

Table of Contents As filed with the Securities and Exchange Commission on April 30, 2024 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ...

Okeanis Eco Tankers Corp. (NYSE:ECO) Q4 2023 Earnings Conference Call February 29, 2024 8:30 AM ET Company Participants Aristidis Alafouzos - Chief Executive Officer Iraklis Sbarounis - Chief Financial Officer Conference Call Participants Petter Haugen - ABG Bendik Nyttingnes - Clarksons Securities Operator Hello and welcome to the OET’s Fourth Quarter and Fiscal Year 2023 Financial Results Presentation. We will begin shortly. Aristidis Alafouzos, CEO and Iraklis Sbarounis, CFO of Okeanis Eco Tankers will t ...

Exhibit 99.1 Okeanis Eco Tankers Corp. – Unaudited Condensed Financial Statements for the Fourth Quarter and Twelve Month Period of 2023 ATHENS, GREECE, February 29, 2024 – Okeanis Eco Tankers Corp. ("OET" or "Company") (NYSE:ECO / OSE:OET) today reported unaudited condensed financial statements for the fourth quarter and twelve month period of 2023, which are attached to this press release. Selected Q4 2023 and Recent Highlights: *The Company uses certain financial information calculated on a basis other t ...

Okeanis Eco Tankers Corp. (OKENF) Q3 2022 Results Conference Call November 10, 2022 7:30 AM ET Company Participants Aristidis Alafouzos - Chief Operating Officer Konstantinos Oikonomopoulos - Chief Financial Officer Conference Call Participants Petter Haugen - ABG Operator Welcome to OET's Third Quarter and 9 Months 2022 Financial Results Presentation. We will begin shortly. Aristidis Alafouzos, COO; and Konstantinos Oikonomopoulos, CFO of Okeanis Eco Tankers, will take you through the presentation. They wi ...