Odfjell
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Odfjell (ODF) investor relations material

Odfjell Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary12 Feb, 2026

Executive summary

  • Fourth quarter net result was USD 38 million, down from USD 43 million in the previous quarter, with time charter earnings of USD 168 million, a 3% decrease due to fewer commercial days.

  • Full-year 2025 net result reached USD 155 million, with total dividends for the year at USD 0.98 per share, or USD 78 million.

  • Launched the world's first operational green corridor for deep-sea shipping between Brazil and Europe, advancing decarbonization.

  • Operationally, the fleet had no serious incidents and maintained strong safety performance.

  • Board approved a dividend of USD 0.50 per share for 2H25, totaling USD 0.98 per share for FY2025.

Financial highlights

  • Time charter earnings per day in 4Q25 were USD 27,978, down less than 1% sequentially.

  • EBIT for 4Q25 was USD 53 million, compared to USD 59 million in 3Q25.

  • EBITDA for 4Q25 was USD 88.9 million; full-year EBITDA reached USD 377.6 million.

  • Free cash flow for 4Q25 was USD 68 million, up from USD 42 million in Q3, aided by a vessel sale.

  • Cash flow from operations in 4Q25 was USD 74 million, with total available liquidity at USD 344 million at year-end.

Outlook and guidance

  • Underlying net result for 1Q26 is expected to be slightly below 4Q25.

  • Demand in core segment expected to remain stable in 2026, with global chemical and vegoil flows continuing despite regional variations.

  • Market sentiment remains uncertain, but global seaborne chemical trade and ton-miles are forecast to return to growth in the coming years.

  • Odfjell Terminals anticipates stable underlying results in 1Q26.

  • Anticipates positive momentum in chemical trade and world GDP growth of 3.3% in 2026.

Green corridor cost recovery strategy
Mitigating absolute emissions with fleet growth
Impact of COA rate decrease on 1Q26 outlook
How will 2026 newbuilds affect fleet composition
Green corridor expansion plans beyond Brazil-Europe
What's delaying crude/CPP spillover to chemicals?
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Frequently asked questions

Odfjell SE engages in the transportation and storage of bulk liquid chemicals, acids, edible oils, and other special products. It operates through the following segments: Tankers, Terminals and Services, and Real Estate. The Tankers segment includes marine transportation of liquid chemicals, acids and edible oils. It operates in Norway, the Netherlands, rest of Europe, North America, South America, the Middle East, Asia, Australasia, and Africa.

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