Hafnia Limited Announces Financial Results For The Three and Twelve Months Ended 31 December 2025

Core Insights - Hafnia Limited reported a strong performance in Q4 2025, with a net profit of USD 109.7 million, up from USD 79.6 million in Q4 2024, driven by improved market conditions and increased clean petroleum product exports [3][4] - The company anticipates continued strength in the product tanker market for 2026, despite potential easing due to newbuild deliveries [9][20] Financial Performance - Q4 2025 net profit was USD 109.7 million (USD 0.22 per share), compared to USD 79.6 million (USD 0.16 per share) in Q4 2024 [3] - Full-year 2025 net profit totaled USD 339.7 million (USD 0.68 per share), down from USD 774.0 million (USD 1.52 per share) in 2024 [3][4] - Time Charter Equivalent (TCE) earnings for Q4 2025 were USD 259.0 million, up from USD 233.6 million in Q4 2024, with an average TCE of USD 27,346 per day [3] - Adjusted EBITDA for Q4 2025 was USD 149.7 million, compared to USD 131.2 million in Q4 2024 [3] Market Conditions - The product tanker market showed seasonal firmness in Q4 2025, supported by rising clean petroleum product exports and geopolitical developments affecting trade flows [2][14] - Geopolitical tensions, particularly in Russia and the Red Sea, continue to influence the product tanker market [2][16] - Demand fundamentals remain strong, with expectations of resilient global oil demand growth in 2026 [15][20] Fleet and Asset Management - Hafnia's fleet consisted of 114 owned vessels and 9 chartered-in vessels at the end of Q4 2025 [10] - The company is actively divesting older tonnage as part of its fleet renewal strategy, having sold several vessels in early 2026 [6] - The net asset value (NAV) at the end of Q4 2025 was approximately USD 3.5 billion, or USD 7.04 per share [5] Dividend Distribution - Hafnia announced a total dividend distribution of USD 87.7 million for Q4 2025, equating to USD 0.1762 per share, with an 80% payout ratio [7][23] - The total dividends for 2025 amounted to USD 0.5457 per share, representing a dividend yield of approximately 10% based on the share price at year-end [7]