Euronav ( (CMBT) ) has released its Q4 earnings. Here is a breakdown of the information Euronav presented to its investors.
CMB.TECH, a diversified maritime group headquartered in Antwerp, Belgium, operates over 150 seagoing vessels across various sectors, including crude oil tankers, dry bulk vessels, and chemical tankers. The company also provides hydrogen and ammonia fuel solutions. In its latest earnings report, CMB.TECH announced a Q4 2024 profit of USD 93.1 million, contributing to a year-to-date profit of USD 870.8 million, despite challenging market conditions. The company delivered seven new vessels and sold four Suezmaxes and one Windcat, aligning with its strategy to rejuvenate its fleet. Key financial metrics showed a decrease in revenue to USD 226.0 million for Q4 2024 from USD 268.6 million in Q4 2023, while EBITDA also declined to USD 180.4 million from USD 474.4 million in the same period last year. Despite these declines, the company maintained profitability through strategic asset sales and fleet optimization. Looking forward, CMB.TECH is poised for continued value generation in 2025, supported by its modern, low-carbon fleet and a balanced mix of spot and time charter exposure.