DHT Holdings, Inc.

DHT Holdings, Inc., a VLCC tanker operator, reported FY 2025 shipping revenues of $497.2 million, down 12.4% from $567.8 million in FY 2024, driven by a smaller fleet (22 vs. 24 vessels) and lower revenue per day. Total revenues were $498.4 million, including $1.2 million in other revenues. A $52.9 million gain on vessel sales (DHT Scandinavia, Lotus, Peony) boosted operating income to $225.0 million (up from prior year) and profit before tax to $211.4 million. Net profit attributable to parent owners reached $211.1 million, or $1.00 basic/diluted EPS, versus $1.12 in 2024. Balance sheet strengthened with total assets at $1.60 billion (up from $1.49 billion), equity at $1.13 billion, and cash at $79.0 million. Operating cash flow was robust at $276.6 million, supporting $118.9 million dividends and $109.5 million net financing outflows. Debt stood at $428.7 million. Forward-looking, fleet averages 10.1 years, with 11 vessels on time charters and 12 in spot market; two newbuilds due H1 2026. Management highlights strong tanker demand amid aging fleet and geopolitical tensions, maintaining prudent capital structure.

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