Q4 2025 Klaveness Combination Carriers ASA Earnings Call Transcript
Key Points
- Klaveness Combination Carriers ASA (FRA:36K) achieved the highest quarterly time charter earnings of the year in Q4 2025, ending at $29,333 per day.
- The company expanded its CLEANBU trading pattern and customer base in 2025, enhancing resilience to geopolitical risks.
- KCC increased its market share in important trades to Australia and diversified its carbon trading to promote a global business.
- The CABU segment had a strong Q4 with close to perfect trading, achieving time charter earnings of $31,840 per day.
- KCC paid $17.4 million in dividends in 2025, maintaining a high payout ratio of 87% of adjusted cash flow.
- EBITDA and earnings after tax in Q4 2025 were slightly lower due to a high number of vessel dockings.
- The dividend per share for Q4 was $0.08, which is $0.04 lower than in the third quarter, reflecting lower adjusted cash flow to equity.
- CLEANBU TCE rates declined by approximately $900 per day in Q4 2025.
- Profit after tax for 2025 was $33.4 million, a decline of 60% from the previous year.
- The company faced a significant decline in EBITDA for 2025, amounting to $79.8 million, a reduction of 37% compared to the previous year.
Good morning, everyone, and welcome to the Klaveness Combination Carriers Q4 2025 report presentation. You may have also noticed that we published our annual report for 2025 today, as well. So this presentation will cover some numbers from 2025, but it will primarily focus on the Q4, findings or the Q4, results.
So today, first up on the agenda will be CEO Engebret Dahm, who will go through a brief summary of the report, followed by CFO and Deputy CEO Liv Hege Dyrnes, who will walk you through the financials, as well as the sustainability performance for Q4.
Engebret will then conclude with the market update and the future outlook for KCC in the coming months. (Operator Instructions) One last thing that is new is that for investor relations, we are now sending out all of our updates through a platform called MFN so it may look a little bit different than what you are used to.
So with that, I think we can go ahead and get started. Engebret, you're up.
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