Oslo, Norway, 22 May 2025 - MPC Container Ships (âMPCCâ or the âCompanyâ, Oslo
Børs Ticker: MPCC), today presented its quarterly results for the first
quarter of 2025. The Company delivered strong operational and financial
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performance in the first quarter, supported by a solid contract backlog that
provides high visibility into earnings for 2025 and 2026. Strategic fleet
renewal efforts progressed with the divestment of less efficient vessels and
the delivery of a modern, dual-fuel vessel, reinforcing the companyâs
commitment to fleet renewal, sustainability and efficiency. The company
successfully expanded its sustainability-linked bond with a USD 75m tap issue
and entered the Japanese financing market for the first time, enhancing the
capital structure. Full-year 2025 financial guidance is reaffirmed, signaling
continued confidence in the companyâs outlook.
Highlights Q1 2025:
- Charter backlog of USD 1.1 billion with almost full contract coverage for
2025 (96%) and high coverage for 2026 (77%)
- Quarterly recurring dividend of USD 0.08 per share, bringing the total
dividends to over USD 1 billion declared since February 2022
- Reaffirmed guidance for 2025 of operating revenues in the range of USD
485-500 million and EBITDA in the range of USD 305-325 million
- Operating revenues of USD 127.1 million (Q1 2024: USD 147.5 million) and
EBITDA of USD 77.8 million (Q1 2024: USD 96.1 million). EBITDA adjusted for
non-recurring items was USD 66.2 million (Q1 2024: USD 96.3 million)
- Profit for the period was USD 59.7 million (Q1 2024: USD 76.5 million) and
USD 48.2 million adj. for non-recurring items (Q1 2024: USD 76.7 million)
- The balance sheet remains solid, with a leverage ratio of 32.2%
- Adj. EPS was USD 0.11 (Q1 2024: USD 0.17)
- As at 31 March 2025, the Groupâs fleet consisted of 59 vessels, with an
aggregate capacity of approximately 141,000 TEU
Co-CEO and CFO Moritz Fuhrmann, comments:
âIn Q1 2025, we advanced our fleet renewal strategy with the delivery of our
first dual-fuel newbuilding and the sale of seven older vessels, enhancing
both efficiency and sustainability. On the financing side, we strengthened our
position through a successful tap issue of our sustainability-linked bond and
entered the Japanese financing market, reinforcing our commitment to
sustainable growth and long-term value creation.â
CEO Constantin Baack added:
"Despite the current geo-political, macro-economic and regulatory environment,
the container market continues to show resilience, supported by strong
second-hand demand, firm time-charter rates as well as durations, and
basically no idle capacity.
While the overall orderbook remains significant, the limited new supply in the
small to mid-size segment, combined with an ageing fleet and shifting trade
patterns, presents a favorable supply-demand dynamic as well as opportunities
for modernization and acquisitions. In this environment, we are taking a
measured approach to new investments.
We have developed MPCC successfully in different market phases. We expect
robust growth in intra-regional trade demand, while the small to mid-sized
segments are underinvested, and we see a lot of potential going forward.
Strong investment capacity is more important than ever, ensuring that we can
act decisively when attractive opportunities arise. As we rebalance our
capital allocation approach, we continue to be committed to sustainable
dividends, but at the same time ensuring investment capacity for strategic,
opportunistic growth investments to build long-term value."
Capital allocation strategy:
The Board of Directors of MPCC has decided to rebalance the Companyâs capital
allocation strategy including the dividend policy. The Company remains
committed to shareholder returns. The new dividend policy combines a
sustainable, recurring cash dividend with cash earnings retained in order to
continue to develop MPCC as a leading tonnage provider and create long-term
value for the company and its shareholders through an opportunistic approach
to growth and strategic fleet renewal. The new policy will be implemented with
effect from Q2 2025, payable in Q3 2025.
The new policy will adjust the pay-out level to pay regular dividends by way
of distributing 30-50% of net profits after considering CAPEX and working
capital requirements, including liquidity reserves, and non-recurring items.
MPCCâs dividend policy is based on quarterly dividend payments approved by the
Board of Directors based on the authorization from the General Meeting.
Q1 2025 Earnings Call:
Constantin Baack, CEO, and Moritz Fuhrmann, Co-CEO and CFO, will present the
results in an earnings call today at 15:00 CEST, followed by a Q&A session.
The earnings call can be accessed live via webcast and questions can be
submitted in writing. A recording will be available on demand at the Companyâs
website after the live event has concluded.
The Q1 2025 report and presentation materials are attached to this release and
available on the Companyâs website: Investors â MPC Container Ships ASA
The webcast can be accessed through the following link: Webcast Q1 2025
(https://channel.royalcast.com/landingpage/hegnarmedia/20250522_6/)
For more information, contact:
ir@mpc-container.com
About MPC Container Ships
MPC Container Ships ASA (ticker code âMPCCâ) is a leading container tonnage
provider focusing on small to mid-size container ships. Its main activity is
to own and operate a portfolio of container ships serving intra-regional trade
lanes on fixed-rate charters. The Company is registered and has its business
office in Oslo, Norway. For more information, please visit
www.mpc-container.com.
Forward-looking statements:
This announcement includes forward-looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Companyâs plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring efforts.
These statements are made based upon managementâs current plans, expectations,
assumptions and beliefs concerning future events impacting the Company and
therefore involve a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed or implied in
the forward-looking statements, which speak only as of the date of this news
release. Consequently, no forward-looking statement can be guaranteed. When
considering these forward-looking statements, you should keep in mind the
risks described from time to time in the Companyâs regulatory filings and
periodical reporting. The Company undertakes no obligation to update any
forward-looking statements to reflect events or circumstances after the date
on which such statement is made or to reflect the occurrence of unanticipated
events. New factors emerge from time to time, and it is not possible for the
Company to predict all of these factors. Further, the Company cannot assess
the impact of each such factor on its business or the extent to which any
factor, or combination of factors, may cause actual results to be materially
different from those contained in any forward-looking statement.
This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-05-22 07:00 CEST.
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