d'Amico International Shipping (DIS) investor relations material

Executive summary

• Net profit for FY 2025 was $88.4 million, down from $188.5 million in FY 2024, with adjusted net profit at $91.6 million; EBITDA margin was 57% and cash flow from operations reached $168.6 million.

• Q4 2025 was the most profitable quarter, with net profit of $25.6 million and spot TCE rates rising sequentially.

• Operated 29 vessels in 2025, 93% eco fleet, with 10 new ships under construction for delivery between 2027 and 2029.

• Maintained robust contract coverage for 2026 and 2027, optimizing spot and time charter mix.

• Exercised purchase options on three modern vessels and sold three oldest vessels, modernizing the fleet and generating significant cash.

Financial highlights

• FY 2025 net profit was $88.4 million; adjusted net profit was $91.6 million; EBITDA reached $152.7 million (57% margin); operating cash flow was $168.6 million.

• Total net revenue was $268.1 million, with TCE earnings of $263.3 million.

• Q4 2025 net profit was $25.6 million; adjusted Q4 net profit was $24.5 million.

• Cash and cash equivalents at year-end were $183.9 million; net financial position was $27.4 million, with leverage at 2.4%.

• Basic EPS was $0.743 in 2025 (down from $1.564 in 2024).

Outlook and guidance

• Q1 2026 guidance: 98% of days fixed at blended TCE of $26,818/day; spot days fixed at $33,077/day.

• FY 2026 net results on fixed contract days estimated at $60.7 million, with upside if spot rates rise.

• Estimated net result for 2026 projected between $80–100 million, depending on spot market performance.

• Focus on increasing 2027 contract coverage as current coverage is only 22%.

• Market fundamentals remain strong, with global oil demand expected to grow by 0.9 mb/d in 2026, led by non-OECD economies.