Havila Shipping ASA: Fourth quarter 2025 accounts / Preliminary 2025 accounts

Financial Performance - Freight revenues amounted to NOK 135.5 million in Q4 2025, a decrease of NOK 12.5 million compared to Q4 2024 and a decrease of NOK 13.8 million compared to Q3 2025 [1] - Total operating income for the year 2025 was NOK 648.0 million, an increase from NOK 585.1 million in 2024 [8] - The profit before tax for Q4 2025 was NOK -26.2 million, compared to NOK 6.5 million in Q4 2024 [8] Operating Expenses - Operating expenses were NOK 91.1 million in Q4 2025, an increase of NOK 3.4 million compared to Q4 2024 and an increase of NOK 6.9 million compared to Q3 2025 [2] - Total operating expenses for the year 2025 were NOK 349.9 million, up from NOK 324.8 million in 2024 [8] Cash Flow and Liquidity - Net cash flow from operations as of 31/12/25 was NOK 248.8 million, compared to NOK 229.6 million in the previous year [6] - Total current assets amounted to NOK 318.5 million as of 31/12/25, with bank deposits of NOK 218.0 million [5] Fleet and Utilization - The company operated 14 vessels as of 31/12/25, with a fleet utilization rate of 91.0% in Q4 2025 [8] - The book value of the fleet was NOK 1,125.4 million as of 31/12/25 [6] Debt and Financial Position - Total long-term debt amounted to NOK 40.0 million as of 31/12/25, with short-term debt classified at NOK 499.6 million [7] - The nominal value of interest-bearing debt was NOK 623.4 million, and the nominal value of non-interest-bearing debt was NOK 589.7 million as of 31/12/25 [9]