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v3.26.1

Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023
Revenue |  |  |
Vessel revenue | $ 938,222 | $ 1,243,951 | $ 1,341,222
Operating expenses |  |  |
Vessel operating costs | (287,870) | (319,147) | (315,582)
Voyage expenses | (36,913) | (30,371) | (13,243)
Depreciation - vessels and drydock | (180,335) | (185,319) | (178,259)
Depreciation - right of use assets for vessels | 0 | 0 | (24,244)
Write-off of deposits on scrubbers | 0 | 0 | (10,508)
General and administrative expenses | (123,406) | (121,048) | (106,255)
Gain on sale of vessels | 45,486 | 176,537 | 12,019
Total operating expenses | (583,038) | (479,348) | (636,072)
Operating income | 355,184 | 764,603 | 705,150
Other (expenses) and income, net |  |  |
Financial expenses | (80,131) | (109,539) | (183,231)
Financial income | 21,891 | 15,947 | 19,112
Share of income from dual fuel tanker joint venture | 4,104 | 7,664 | 5,950
Dividend income and fair value gain (loss) on financial assets measured at fair value through profit or loss | 41,123 | (11,176) | 0
Other income and (expenses), net | 2,121 | 1,275 | (83)
Total other expense, net | (10,892) | (95,829) | (158,252)
Net income | 344,292 | 668,774 | 546,898
Attributable to: |  |  |
Equity holders of the parent | $ 344,292 | $ 668,774 | $ 546,898
Earnings per share |  |  |
Basic (in USD per share) | $ 7.40 | $ 13.78 | $ 10.44
Diluted (in USD per share) | $ 7.03 | $ 13.15 | $ 10.03
Basic weighted average shares outstanding (in shares) | 46,554,200 | 48,544,137 | 52,369,269
Diluted weighted average shares outstanding (in shares) | 48,949,522 | 50,874,322 | 54,527,747

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