CMBT · Cmb.Tech N.V.

CMB.TECH reported its final financial results for the full year ended 31 December 2025, with a profit of USD 139.1 million, driven by a Q4 profit of USD 89.1 million. The company noted no major changes compared to preliminary figures published on 26 February 2026. A significant corporate development was the completion of the merger with Golden Ocean Group Limited on 20 August 2025, following a share purchase agreement announced on 4 March 2025 for the acquisition of 81,363,730 shares in Golden Ocean. The company executed a substantial fleet rejuvenation strategy in 2025, delivering 17 newbuild vessels and selling 12 older vessels, while also ordering an additional 9 vessels. Strategic partnerships were formed, including agreements with Fortescue and Mitsui O.S.K. Lines for ammonia-powered vessels, aligning with the company's investment in the Chinese ammonia supply chain. The total contract backlog increased to USD 3.05 billion, indicating future revenue visibility. Post-year-end events included the sale of a stake in Tankers International Pool in January 2026 and the sale of 8 VLCCs and 2 Capesize vessels in Q1 2026, generating a capital gain of approximately USD 269.3 million. Management Board and Supervisory Board changes occurred, including the resignation of Mr. Benoit Timmermans from the Management Board in Q1 2026.