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 ...

Company Overview - Okeanis Eco Tankers Corp. (ECO) is expected to report a year-over-year decline in earnings, with a projected EPS of $0.90, reflecting a decrease of 45.5% compared to the previous year [3] - Revenues for the quarter are anticipated to be $100.71 million, down 15.9% from the same quarter last year [3] Earnings Expectations - The consensus EPS estimate has been revised 2.38% higher in the last 30 days, indicating a reassessment by analysts [4] - The Most Accurate Estimate for Okeanis Eco Tankers is the same as the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [10] Earnings Surprise History - In the last reported quarter, Okeanis Eco Tankers Corp. exceeded the expected EPS of $1.10 by delivering $1.23, resulting in a surprise of +11.82% [12] - Over the past four quarters, the company has only beaten consensus EPS estimates once [13] Industry Context - In the Zacks Transportation - Shipping industry, Euroseas Ltd. (ESEA) is expected to report earnings of $2.49 per share, indicating a year-over-year decline of 40.3% [17] - Euroseas' revenue is projected to be $49.33 million, showing no change from the previous year [17] - The consensus EPS estimate for Euroseas has been revised 7.3% higher in the last 30 days, but it also has an Earnings ESP of 0.00% and a Zacks Rank of 4 (Sell) [18]

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 ...

Financial Data and Key Metrics Changes - The company achieved a fleet-wide TCE of over $45,000 per vessel per day, with adjusted EBITDA of $44.2 million, adjusted net profit of $20.4 million, and adjusted EPS of $0.63 for Q4 2023 [3][4] - For the fiscal year 2023, TCE revenue reached almost $300 million, a 54% increase from 2022, with EBITDA of $242 million and net profit of $145 million, both reflecting a 72% year-on-year increase [6][4] Business Line Data and Key Metrics Changes - In Q4, VLCCs generated $45,200 per day in the spot market, outperforming peers by 4%, while Suezmaxes generated $51,800 per spot day, outperforming peers by 17% [16][4] - The entire fleet is now positioned in the spot market, with significant improvements in operational efficiency noted, particularly with the upgraded paint specification on vessels [14][15] Market Data and Key Metrics Changes - The company reported a 50% increase in trading volumes since dual listing on the New York Stock Exchange, with 40% of total volume traded out of New York within 2.5 months [5] - The Red Sea tensions have created opportunities for VLCCs, with changes in crude movement patterns benefiting the fleet [20][25] Company Strategy and Development Direction - The company continues to focus on positioning its fleet predominantly in the West and taking advantage of market conditions to fix longer voyages to the East [14] - The management is optimistic about improving capital structure through refinancing and is actively seeking opportunities to optimize debt costs [12][11] Management Comments on Operating Environment and Future Outlook - Management expressed confidence that OPEC+ will eventually need to bring more barrels back to the market, which could lead to a significant increase in tanker demand [24][21] - The company anticipates a bullish market environment due to limited new vessel deliveries expected until 2027, with a significant portion of the fleet aging [29][30] Other Important Information - The company declared a capital distribution of $0.66 per share, representing 100% of reported EPS, continuing its commitment to shareholder value [4] - The company has successfully executed transactions to improve its capital structure, reducing debt costs and increasing flexibility [11][12] Q&A Session Summary Question: Impact of IFRS 16 on TCE equivalents - Management acknowledged that the impact varies quarter-on-quarter and depends on vessel positioning, with no significant impact expected for Q1 [31] Question: Relative VLCC market performance - Management indicated that VLCCs may see continued parceling of cargoes due to Red Sea tensions, but the extent of this is uncertain [33] Question: Preference for fleet expansion - If forced to expand, management would prefer VLCCs over Suezmaxes, anticipating a stronger market for VLCCs in the coming years [34] Question: Crude tanker activity and Red Sea situation - Management noted that Russian crude remains a significant portion of Suez transits, and they do not expect this to change unless extreme circumstances arise [36]

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 ...

OKEANIS ECO TANKERS CORP. Q2 2022 EARNINGS PRESENTATION DATE 12 AUGUST 2022 DISCLAIMER This presentation (the "Presentation") has been prepared by Okeanis Eco Tankers Corp. ("OET or the "Company"). The Presentation reflects the conditions and views of the Company as of the date set out on the front page of this Presentation. This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates, someti ...

Financial Data and Key Metrics Changes - The company generated net revenue of $36 million, which is a 36% increase quarter-on-quarter [4] - Adjusted EBITDA reached $25 million, reflecting a 52% increase quarter-on-quarter [4] - Adjusted profit was reported at $8.5 million, or $0.26 per share [4] - Fleet-wide Time Charter Equivalent (TCE) for the quarter was $29,900, a 21% increase compared to the first quarter [5] - Total liquidity at the end of the second quarter was $72.4 million, which is 121% higher year-over-year [5][33] - The company reported a debt level of $763 million, with a leverage ratio of 65% [33] Business Line Data and Key Metrics Changes - VLCCs generated $18,600 per day in the spot market, outperforming peers by 2% [11] - Suezmaxes achieved $41,500 per spot day, outperforming peers by 80% [14] - In Q3, 60% of VLCC spot days were fixed at $31,900 per day, a 72% outperformance relative to peers [15] - 70% of Suezmax spot days were fixed at $60,400, a 109% outperformance relative to peers [15] Market Data and Key Metrics Changes - The company noted a shift in trade patterns due to the Russian invasion of Ukraine, with new trade routes emerging for VLCCs [12][20] - European crude imports are increasingly sourced from farther regions, replacing Russian crude [21] - The average crude tanker sailing distance has increased, positively impacting the company's trade [22] Company Strategy and Development Direction - The company aims to capture the current tanker cycle with a focus on maintaining a highly efficient fleet [39] - The strategy includes optimizing TCE and reducing ballast days while increasing spot exposure to capitalize on market spikes [19][39] - The company is considering a potential US listing in the medium term [55] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the tanker market, anticipating increased US Gulf exports and higher rates in Q4 [47] - The company expects to benefit from the ongoing need to replace Russian crude in Europe [19] - Management highlighted the importance of maintaining liquidity due to market volatility and rising interest rates [54] Other Important Information - The company announced a cash dividend of $0.30 per share, totaling $10 million [5] - The fleet is now fully delivered, with a mix of long-term charters and spot trading [8] Q&A Session Summary Question: What levels would be acceptable for longer-dated charters? - Management indicated they would consider longer-term deals in the high 40s for VLCCs and comparable rates for Suezmaxes, noting current rates are undervalued [42][44] Question: Is there an appetite for further investment or selling ships? - Management stated it is more challenging to invest now due to high prices, but selling ships for profit to renew the fleet could make sense [44] Question: What is the outlook for US exports? - Management expects a busy period for US Gulf exports at the end of Q3 and early Q4, with potential for increased rates [47][48] Question: What are the expectations for cash balances going forward? - Management aims to increase liquidity to at least €70 million due to market volatility and rising interest rates [54] Question: Is there interest in pursuing a US listing? - Management has begun exploring the process for a potential US listing and will update investors accordingly [55]

Okeanis Eco Tankers Corp. (OKENF) Q1 2021 Earnings Conference Call May 18, 2021 9:30 AM ET Company Participants Ioannis Alafouzos - Chairman and CEO Aristidis Alafouzos - COO John Papaioannou - CFO Conference Call Participants Dennis Anghelopoulos - ABG Operator Welcome to OETÂ's First Quarter 2021 Financial Results Presentation. We will begin shortly. Ioannis Alafouzos, Chairman and CEO; Aristidis Alafouzos, COO; and John Papaioannou, CFO of Okeanis Eco Tankers, will take you through the presentation. They ...