The Awilco LNG Group (Awilco LNG ASA together with its subsidiaries) today reports unaudited results for the three months ended June 30, 2025.
HIGHLIGHTS
• Awilco LNG reports a net loss of USD 3.1 million and loss per share of USD 0.02 in the second quarter 2025, up from a net loss of USD 3.3 million and USD 0.02 per share in the first quarter 2025. First half year 2025 net loss ended at USD 6.4 million and USD 0.05 per share.
• Net freight income of USD 7.8 million in second quarter 2025, compared to USD 8.3 million in first quarter 2025. First half year 2025 net freight income ended at USD 16.0 million, down from USD 44.3 million for the same period last year.
• EBITDA in second quarter 2025 ended at USD 3.9 million, up from USD 3.8 million in first quarter 2025. First half year 2025 EBITDA ended at USD 7.7 million, down from 36.4 million for the same period last year.
• Vessel utilization was 65% for second quarter 2025, compared to 72% for first quarter 2025. First half year 2025 utilization was 68%, compared to 100% for the same period last year.
• Net TCE came in at USD 42,600 and USD 44,300 per day for second quarter and first half year respectively, compared to USD 122,900 and USD 121,700 per day respectively for the same periods last year.
Jon Skule Storheill, Chief Executive Officer, commented:
“The short-term LNG Shipping market remains challenging as delivery of new vessels ahead of the massive increase in LNG production is creating oversupply. Additionally, the increased US production is currently going to Europe to rebuild gas inventories ahead of winter, limiting an increase in ton-miles. Therefore, the effect of an all-time high number of steam vessels sold for demolition has so far not been enough to rebalance the market. A continued steady flow of Final Investment Decisions for new LNG production is proof of strong long-term demand for LNG shipping.”
Note on Alternative performance measures: Alternative performance measures are defined and explained in the APM section of the Quarterly report.
Oslo, August 21, 2025
For further information please contact:
CEO Jon Skule Storheill
Phone: +47 913 44 356
CFO Per Heiberg
Phone: +47 952 20 264