Slides
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1 Q2 2025 Results Vilhelm Már Thorsteinsson, CEO Rósa Guðmundsdóttir, CFO 26 August 2025
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Q2 2025 highlights Solid results in a quarter characterized by strong volume in Liner and material decline in global freight rates affecting margin in the Forwarding segment. Revenue decreased by 2.9% while expenses, excluding salary cost, reduced by 5.1% confirming operational focus. Including salary cost, expenses decreased by 2.0%. Recent collective wage agreements have put considerable pressure on salary cost. Strong volume in trucking and warehousing activity picking up across the group supporting results of Logistics while terminal results were negatively affected by lower volume of industrial cargo. Eimskip reached an agreement in early July to sell Lagarfoss with expected delivery to new owner in late September. As a result, amendments will be made to the sailing system, which will be introduced later in the fall. 3
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4 The only Pan-Arctic ocean carrier Strong connections to international markets via global network A leading fresh by sea service provider in the North-Atlantic
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Note: Reefer liner volume in Norway converted from tons to teus Liner segment Strong volume growth in container liner across all trade lanes while margin affected by cargo mix 51.7 50.8 51.4 48.9 51.0 53.2 53.6 52.1 55.1 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 + 7.9% Liner segment 51.0 55.1 0.4 1.3 0.7 1.3 0.7 -0.1 -0.3 Q2 2024 IMP IS EXP IS IMP FO EXP FO TA NO North NO South Q2 2025 Volume development by quarter Teus ‘000 Change by trade lines Teus ‘000 Liner results EURm 5 Q2 25 Q1 25 QoQ % Q2 24 YoY % Revenue 107.0 104.0 2.8% 103.2 3.7% Expenses 97.3 98.2 -0.9% 93.6 3.9% There of salaries 11.1 11.6 -4.5% 10.3 7.5% EBITDA 9.7 5.8 66.4% 9.6 1.1% EBITDA margin 9.1% 5.6% 9.3% EBIT 0.5 -4.1 0.9 -41.7% EBIT margin 0.5% -4.0% 0.8%
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Trans-Atlantic Strong volume growth, especially eastbound, resulting in improved utilization with stable freight rates YoY . 3.8 3.2 3.1 3.3 3.7 3.8 4.9 4.2 4.2 2.8 2.7 2.4 2.5 3.0 3.0 3.0 2.6 3.8 1.0 1.2 0.7 0.6 0.7 0.9 0.4 0.3 0.27.6 7.2 6.3 6.4 7.5 7.7 8.4 7.1 8.2 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 TA Westbound TA Eastbound Shortsea Volume development by quarter Teus ‘000 Drewry World Container Index development $US/40ft container + 9.6% *Q3 to date 21 August 6
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7 Freight forwarding with global reach 28 locations in 20 countries across four continents Specialized in frozen and chilled commodities
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19.8 21.5 14.9 13.9 4.7 3.6 41.4 1.7 -1.0 -1.1 -0.8 40.2 Q2 2024 Europe Asia Scandinavia N-America Q2 2025 Europe Asia Scandinavia N-America Forwarding segment 26.0 29.1 35.5 29.3 28.6 28.3 33.6 26.7 28.4 13.8 13.3 12.8 13.8 12.8 12.9 11.7 11.3 11.8 39.8 42.4 48.3 43.2 41.4 41.2 45.2 38.0 40.2 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Reefer Dry High volatility in global freight rates at substantially lower levels marked by uncertainty on the US tariffs - 2.8% Volume development by quarter Teus ‘000 Volume bridge and split by geography Teus ‘000 Forwarding results EURm 8 Forwarding segment Q2 25 Q1 25 QoQ % Q2 24 YoY % Revenue 69.9 76.4 -8.6% 80.8 -13.5% Expenses 68.0 73.9 -7.9% 77.1 -11.8% There of salaries 6.5 6.8 -3.8% 6.1 7.6% EBITDA 1.8 2.5 -26.8% 3.7 -50.4% EBITDA margin 2.6% 3.3% 4.5% EBIT 0.7 1.4 -47.7% 2.0 -64.5% EBIT margin 1.0% 1.8% 2.5%
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9 Forwarding volume split YTD Asia - Africa 4.7% Asia - N-America 8.8% Intra - Europe 4.1% Europe - Africa 11% Intra - Africa 2.3% Europe - Asia 20% Asia - Europe 25% Other trades 12% Intra - Asia 7.0% Europe - N-America 5.1%
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10 Logistics and agency services Providing holistic door-to-door solutions in the North-Atlantic Leveraging valuable local expertise and Eimskip’s strong infrastructure Trucking Terminal operations Warehouses Chilled and cold storages Agency Operations
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Logistics and agency Good activity across the segment. Strategic increase in operations of own trucking fleet in Iceland with positive result on margin as contractor cost has declined more than salary and investment expense. Percentage split of revenue Logistics and agency results EURm 45% 44% 46% 46% 47% 47% 47% 48% 48% 25% 25% 24% 24% 24% 23% 22% 23% 24% 20% 20% 21% 21% 21% 20% 24% 23% 21% 6% 8% 5% 3% 3% 7% 3% 2% 3%4% 4% 4% 4% 5% 4% 4% 4% 4% Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Trucking Warehouse &CS Terminal Agency Other 11 Q2 25 Q1 25 QoQ % Q2 24 YoY % Revenue 69.7 65.0 7.1% 70.5 -1.1% Expenses 60.0 58.0 3.4% 60.2 -0.4% There of salaries 24.0 22.3 7.8% 21.5 11.9% EBITDA 9.7 7.0 37.8% 10.2 -5.5% EBITDA margin 13.9% 10.8% 14.5% EBIT 4.5 1.8 151.4% 5.7 -21.1% EBIT margin 6.5% 2.7% 8.1%
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Note: Absolute values reflect the Group´s totals. Numbers have been adjusted where needed, for comparison between countries. Logistics volume QoQ Generally good activity across Logistics segment, with an increase from first quarter of the year. Terminals Trucking Warehousess Coldstores 398,000 tons transported 184,000 pallets out85,000 average # of pallets Up by 21,000 pallets Up by 10,000 pallets 52,000 container lifts Up by 3,000 lifts 80,000 pallets out29,000 average # of pallets Up by 5,000 pallets Up by 3,000 pallets Up by 32.000 tons 12
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13 Financial results
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Income statement Q2 2025 Revenue decreased by 2.9% while expenses decreased by 2.0% including an 10% increase in salary YoY . This led to a reduction in EBITDA by EUR 2.3m. Expenses excluding salary cost reduced by 5.1%. There are primarily three factors behind the increase in salary. Collective wage agreements increases, backdated one-off contractual correction of EUR 0.3m and currency differences of EUR 0.8m. Adjusted for the latter two factors the increase is 6.9% YoY . Depreciation increased by EUR 0.6m, mostly explained by a temporary increase in number of chartered vessels due to scheduled dry-dockings. Expecting depreciation to be more in line with previous level in the coming quarters. Finance expense was EUR 2.0m lower YoY mainly due to favorable currency differences of EUR 2.9m in the quarter . Affiliates are performing well, however a negative currency development resulted in a EUR 2.6m less contribution. Eimskip received a EUR 12.9m dividend payment in July. EURm Q2 2025 Q2 2024 Change % Revenue 201.1 207.1 -6.1 -2.9% Expenses 179.9 183.6 -3.8 -2.0% Salary and related expenses 41.6 37.9 3.8 10.0% EBITDA 21.2 23.5 -2.3 -9.8% Depreciation and amortization 15.5 14.9 0.6 3.7% EBIT 5.7 8.6 -2.9 -33.3% Net finance expense -0.6 -2.6 2.0 -78.3% Share of profit of affiliates 0.7 3.3 -2.6 -78.9% Net earnings before income tax 5.8 9.3 -3.4 -37.1% Income tax -1.3 -1.4 0.0 -3.1% Net earnings for the period 4.5 7.9 -3.4 -43.0% EBITDA ratio 10.5% 11.3% EBIT ratio 2.8% 4.1% Profit margin 2.2% 3.8% Solid financial result despite changes in salary in a quarter characterized by currency fluctuations. 14
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15 EURm 6M 2025 6M 2024 Change % Revenue 401.4 400.9 0.5 0.1% Expenses 364.9 363.2 1.7 0.5% Salary and related expenses 82.3 75.3 7.0 9.3% EBITDA 36.5 37.7 -1.2 -3.2% Depreciation and amortization 31.8 30.1 1.7 5.8% EBIT 4.7 7.7 -3.0 -38.6% Net finance expense -3.2 -5.8 2.5 -43.9% Share of profit of affiliates 3.2 7.6 -4.4 -57.7% Net earnings before income tax 4.7 9.4 -4.8 -50.6% Income tax -0.9 -1.0 0.1 -10.6% Net earnings for the period 3.7 8.4 -4.7 -55.5% EBITDA ratio 9.1% 9.4% EBIT ratio 1.2% 1.9% Profit margin 0.9% 2.1% Income statement 6M 2025 Finna aðra mynd Hún er líka á glæru 14
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104.2 97.1 93.6 89.6 92.8 97.7 99.9 95.5 96.7 58.6 62.2 64.1 64.1 71.3 75.6 87.3 67.2 62.5 44.1 40.5 41.4 40.1 43.0 45.7 40.0 37.6 41.9 206.8 199.8 199.1 193.8 207.1 219.0 227.2 200.3 201.1 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Liner Forwarding Logistics & Agency Revenue analysis Development of revenue YoY varied across the three service segments. Liner revenue grew by 4.2% while volume increased by 7.9%. Trans-Atlantic performed well in the quarter as volume increased at stable prices and Faroe Islands rebounded from the strike last year . Iceland export had good volumes which were driven by considerable increase in industrial cargo which effected average prices. Import to Iceland was on similar level as last year . Forwarding revenue decreased by 12.3% while volume decreased by 2.8%. This was driven by significant decrease in global freight rates coupled with less project cargo from previous year. Logistics and agency revenue decreased by 2.7%. Strong quarter in trucking revenue and solid revenue from warehousing. Terminal operation negatively affected by lower volume of industrial cargo. Modest growth in Container liner while freight forwarding affected by reduction in global freight rates Total revenue development EURm Geographical split of revenue - 2.9% 53.4% 53.1% 51.8% 55.0% 55.2% 5.0% 5.8% 9.0% 6.6% 7.0%5.6% 3.7% 3.2% 4.5% 5.1% 21.8% 22.1% 20.4% 22.0% 22.1% 10.5% 11.0% 11.8% 8.3% 7.1% 3.7% 4.2% 3.7% 3.6% 3.5% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Iceland Faroe Islands Norway Europe Asia N-America 16
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Q2 2024 Cont. Liner Reefer Liner Forwarding Trucking Warehouse Terminal Agency Other Q2 2025 Revenue bridge Rebound in the Faroe Islands and increase in Trans-Atlantic supported revenue development while significant reduction in global freight rates coupled with less project cargo let to decrease in total revenue in the quarter. Revenue bridge by business activity EURm 17
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18 -8.0 -2.9 0.6 2.0 3.8 0.8 183.6 179.9 Q2 2024 3rd party Bunker ETS Liner & equipm. Salaries Admin Q2 2025 91.0 87.0 83.8 96.3 100.9 104.6 115.8 96.2 92.9 13.2 14.3 15.9 15.4 14.7 14.1 14.3 15.1 12.4 17.8 17.6 28.1 18.8 18.5 19.1 18.8 20.8 20.5 36.8 35.1 36.9 37.5 37.9 35.9 39.2 40.7 41.6 13.7 11.4 11.8 11.6 11.7 12.4 11.9 12.2 12.5 172.5 165.3 176.4 179.5 183.6 186.1 200.0 185.0 179.9 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 3rd p logistics serv. Bunker & ETS Liner & equipm. Salaries Admin and other Expense analysis Expenses decreased by EUR 3.8m YoY or by 2.0% mainly driven by reduction in third-party logistics services and lower bunker cost partly offset by salaries increases. Lower third-party expenses is mostly attributed by reduction in freight cost as global freight rates decreased. Bunker cost decreased by EUR 2.9m due to lower bunker prices and lower consumption despite ETS cost increasing by EUR 0.6m. Implementation of the ETS charge increased from 40% to 70% at the beginning of 2025. Salaries increased by EUR 3.8m or 10%, whereof EUR 0.8m was due to negative currency fluctuations. Like for like increase, including collective wage agreements, is 6.9% YoY . Total expenses decreased despite unusual increase in salary expenses Total expenses development EURm Expense bridge EURm - 2.0%
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Expense bridge Generally strong volume coupled with fluctuations in global freight rates affecting cost development with total expenses decreasing despite unusual salary increases. Expense bridge by business activity EURm -0.3 -7.0 -0.9 -0.4 0.4 -0.1 -0.1 Q2 2024 Cont. Liner Reefer Liner Forwarding Trucking Warehouse Terminal Agency Other Admin& other Q2 2025 19
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34.3 34.5 22.7 14.2 23.5 32.9 27.1 15.3 21.2 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 EBITDA development by quarter EURm EBITDA - 9.8% EBITDA bridge by business activity EURm Good volume in Liner and trucking while Forwarding affected by lower global freight rates -0.3 -1.8 1.0 0.4 -1.1 -0.2 -0.2 Q2 2024 Cont. Liner Reefer Liner Forwarding Trucking Warehouse Terminal Agency Other Admin& other Q2 2025 20
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179 173 177 196 221 216 223 221 237 96 93 86 91 94 85 105 110 111 1.16 1.24 1.43 1.85 2.33 2.31 2.28 2.23 2.45 -1.30 -0.80 -0.30 0.20 0.70 1.20 1.70 2.20 2.70 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Net debt Whereof operational leases Leverage ratio Cash flow bridge EURm Cash flow and leverage Continued solid cash flow from operations and strong cash position at the end of the period Net interest bearing debt and leverage ratio by quarter EURm Cash flow from operations development by quarter EURm 21 19.6 21.1 11.1 2.7 23.6 12.3 18.4 15.9 15.1 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 27.6 21.2 5.4 -8.7 0.4 3.3 -1.1 -15.5 29.9 -2.8 Cash position 31.03.2025 EBITDA Paid taxes Working capital change Maint. CAPEX Financing activities Net investm. ETS Dividend payments Net Cash position 30.06.2025
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22 Maintenance and investment capex New investment capex amounted to EUR 1.8m in Q2 and totals EUR 3.9m YTD which is somewhat lower than plan. Investments include washing facility in Sundahöfn terminal, increased investments in own trucking fleet and a refurbishment of the Netherlands office. Maintenance capex amounted to EUR 8.7m in Q2 and totals EUR 13.9m YTD. The most significant maintenance capex items include vessel dockings, IT system maintenance and various equipment renewals. Maintenance Capex EURm New Investment Capex EURm 26.9 12.4 13.9 2024 6M 2024 6M 2025 2025 Plan 11.4 5.7 3.9 2024 6M 2024 6M 2025 2025 Plan
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23 Operational matters and business outlook
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24 Supporting the Icelandic women´s national team Eimskip is proud to support Icelandic football at every level, from youth development to the national teams, through our partnership with KSÍ - the Football Association of Iceland. New campaign launched ahead of UEFA Women’s Euro 2025 Ahead of UEFA Women’s Euro 2025, Eimskip launched a new brand campaign across TV, social media, and billboards. The campaign reflects our commitment to supporting communities Eimskip operates in and the pride of our employees in cheering on the national team. HÚN!
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Outlook Foreseeing good Liner volume in Q3 with margin on similar levels. • Import to Iceland expected to be stable while we anticipate export from Iceland to be on a higher level with new quota year and increase in salmon harvesting despite lower volume of industrial cargo. • Good volume in Trans-Atlantic and improved balance in westbound and eastbound trade. • Import to Faroes expected to pick up in line with traditional seasonality while export is expected to be strong on back of pelagic fisheries and increase in salmon harvesting. • Reefer liner will continue to be affected by lower white fish quota and unfavorable cargo mix. The Forwarding volume is expected to be just above Q2 and at lower global freight rate levels. Expecting traditional seasonality in Q3 from Q2 across the Liner and Logistics segments. Anticipating Logistics and Agency segment to perform well in Q3 on back of good liner and trucking volume, improved warehouse activity and high season for Agency. A loss of sale of EUR 3.4m will be recognized in Q3 due to the sale of Lagarfoss, affecting EBITDA. However, net cash proceeds from the sale, after debt installments, amounts to USD 8m. Elbfeeder, an affiliate of Eimskip, paid a EUR 12.9m dividend payment in July. Eimskip remains well positioned amid ongoing geopolitical and tariff-related uncertainty, supported by its strong presence in transporting frozen and chilled commodities, which tend to be more resilient. While U.S. tariff concerns have influenced the broader transportation sector, their impact on Eimskip’s operations has been minimal. 25
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26 Thank you
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27 Appendix
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28 This is Eimskip Eimskip is a leading transportation company in the North-Atlantic providing container and reefer liner services with connections tointernational markets and is specialized in worldwide freight forwarding services with a focus on frozen and chilled commodities. 153 Own trucks 57 Offices Greenhouse gas emissions* -1% 20 Countries 14 Vessels 10 Container vessels 4 Reefer vessels Container fleet Reefer 8.208 teus Dry 23.553 teus Board of Directors 60% Female 40% Male 43 Nationalities 30 Warehouses 11 Cold storages Senior management 32% Female 68% Male Established in 1914 1742 FTEs 32% Female 69% Male *Greenhouse gas emission LTM Q2 2025 compared to LTM Q2 2024
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29 Service segment split Logistics and agency services represents trucking and distribution, warehousing, coldstores, own terminal operations and agency. Various services offered across 28 locations in 11 countries. Liner services includes container- and reefer liner services in the North-Atlantic. This includes import and export from Iceland and the Faroe Islands, west- and eastbound Trans-Atlantic and reefer liner in Norway. Included in this segment is all liner related pre- and on-carriages. A total of 22 liner offices across 14 countries in the North-Atlantic. Forwarding services represents sale and services of transportation solutions outside of Eimskip's own operating system, particularly in sea-, air-, and land transportation. A total of 28 forwarding offices across 20 countries and four continents. Liner services Forwarding services Logistics and agency
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30 Income statement by segments Q2 2025 vs Q2 2024 EURm Q2 2025 Q2 2024 YoY % Q2 2025 Q2 2024 YoY % Q2 2025 Q2 2024 YoY % Q2 2025 Q2 2024 Q2 2025 Q2 2024 YoY % Revenue 107.0 103.2 3.7% 69.9 80.8 -13.5% 69.7 70.5 -1.1% -45.4 -47.3 201.1 207.1 -2.9% Expenses 97.3 93.6 3.9% 68.0 77.1 -11.8% 60.0 60.2 -0.4% -45.4 -47.3 179.9 183.6 -2.0% There of salaries 11.1 10.3 7.5% 6.5 6.1 7.6% 24.0 21.5 11.9% 41.6 37.9 10.0% EBITDA 9.7 9.6 1.1% 1.8 3.7 -50.4% 9.7 10.2 -5.5% 21.2 23.5 -9.8% Depreciation 9.2 8.7 5.4% 1.1 1.7 -33.6% 5.2 4.5 14.1% 15.5 14.9 3.7% EBIT 0.5 0.9 -41.7% 0.7 2.0 -64.5% 4.5 5.7 -21.1% 5.7 8.6 -33.3% Net financial income -0.3 -1.2 -78.3% -0.1 -0.4 -79.0% -0.2 -1.0 -78.1% -0.6 -2.6 -78.3% Share of earnings 0.7 3.3 -79.0% 0.0 0.0 0.7 3.3 -78.9% EBT 0.9 2.9 -68.4% 0.6 1.6 -60.9% 4.3 4.7 -9.4% 5.8 9.3 -37.1% Taxes -0.6 -0.6 8.6% -0.1 -0.2 -46.8% -0.6 -0.6 1.5% -1.3 -1.4 -3.1% Net Profit 0.3 2.4 -86.6% 0.5 1.4 -63.0% 3.7 4.1 -11.0% 4.5 7.9 -43.0% A management distribution rule was applied for illustration purposes on net financial income and taxes to each segment Volume (teus '000) 55.1 51.0 7.9% 40.2 41.4 -2.8% Jobs 25,356 27,778 -8.7% Revenue per teus (EUR) 1,943 2,022 -3.9% 1,736 1,951 -11.0% Cost per teus (EUR) 1,767 1,834 -3.7% 1,691 1,863 -9.2% EBITDA per teus (EUR) 176.3 188.1 -6.3% 45.2 88.6 -49.0% Sailed miles Q2 193,002 189,354 Uitilization (headhaul) - cont. Liner 85% 83% EliminationLogistics and AgencyForwardingLiner Total
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31 Income statement by segments 6M 2025 vs 6M 2024 EURm 6M 2025 6M 2024 YoY % 6M 2025 6M 2024 YoY % 6M 2025 6M 2024 YoY % 6M 2025 6M 2024 6M 2025 6M 2024 YoY % Revenue 211.0 200.8 5.1% 146.3 150.6 -2.9% 134.7 135.1 -0.3% -90.6 -85.7 401.4 400.9 0.1% Expenses 195.5 187.0 4.5% 142.0 144.9 -2.1% 118.0 116.9 0.9% -90.6 -85.7 364.9 363.2 0.5% There of salaries 22.7 21.5 5.8% 13.3 12.2 9.3% 46.3 41.7 11.1% 82.3 75.3 9.3% EBITDA 15.5 13.8 12.6% 4.3 5.7 -24.7% 16.7 18.2 -8.4% 36.5 37.7 -3.2% Depreciation 19.2 17.8 7.6% 2.2 3.3 -31.7% 10.4 9.0 16.0% 31.8 30.1 5.8% EBIT -3.6 -4.0 -9.6% 2.1 2.4 -15.4% 6.3 9.3 -32.1% 4.7 7.7 -38.6% Net financial income -1.5 -2.7 -43.9% -0.5 -0.9 -44.2% -1.2 -2.2 -43.8% -3.2 -5.8 -43.9% Share of earnings 3.2 7.5 -57.8% 0.0 0.0 3.2 7.6 -57.7% EBT -2.0 0.8 1.6 1.6 0.3% 5.1 7.1 -28.5% 4.7 9.4 -50.6% Taxes -0.5 -0.5 -1.3% 0.0 -0.2 -71.0% -0.4 -0.4 3.5% -0.9 -1.0 -10.6% Net Profit -2.5 0.3 1.6 1.4 8.6% 4.6 6.7 -30.5% 3.7 8.4 -55.5% A management distribution rule was applied for illustration purposes on net financial income and taxes to each segment Volume (teus '000) 107.2 99.9 7.3% 78.2 84.5 -7.5% Jobs 50,478 55,072 -8.3% Revenue per teus (EUR) 1,969 2,011 -2.1% 1,870 1,782 5.0% Cost per teus (EUR) 1,824 1,873 -2.6% 1,815 1,714 5.9% EBITDA per teus (EUR) 145.0 138.1 5.0% 55.0 67.6 -18.6% Sailed miles YTD 380,660 382,842 Uitilization (headhaul) - cont. Liner 85% 79% Liner Forwarding Logistics and Agency Elimination Total 211.200.
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Container liner analysis Reduced bunker consumption while miles sailed were on a similar level and utilization continues to improve TTM bunker consumption development Metric ton per sailed mile TTM sailed miles development Thousand Miles (‘000) Vessel utilization 32
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33 Balance sheet and cash flow EURm 30.06.2025 31.12.2024 Change % Non-current assets 486.3 482.5 3.8 0.8% Fixed assets 309.0 312.2 -3.1 -1.0% Right-of-use assets 111.5 107.7 3.8 3.6% Other non-current assets 65.8 62.7 3.1 4.9% Current assets 188.8 184.2 4.7 2.5% Trade and other receivables 148.9 143.2 5.6 3.9% Other current assets 10.1 12.2 -2.1 -17.5% Cash and cash equivalents 29.9 28.7 1.2 4.1% Assets 675.1 666.7 8.4 1.3% Equity 296.7 316.9 -20.2 -6.4% Non-current liabilities 231.3 175.5 55.8 31.8% Loans and borrowings 133.9 80.5 53.4 66.4% Lease liabilitites 90.2 86.5 3.7 4.3% Other non-current liabilitites 7.2 8.5 -1.3 -15.2% Current liabilities 147.1 174.3 -27.2 -15.6% Loans and borrowings 20.2 59.4 -39.2 -66.1% Lease liabilities 23.5 26.8 -3.3 -12.2% Trade and other payables 103.5 88.2 15.3 17.3% Income tax payable 0.0 0.0 0.0 Liabilities 378.4 349.8 28.6 8.2% Equity and liabilitites 675.1 666.7 8.4 1.3% EURm Q2 2025 Q2 2024 Change EBITDA 21.2 23.6 -2.4 Working Capital changes and other adjustments 5.4 4.4 1.0 Paid taxes -2.8 -2.5 -0.2 Maintenance Capex -8.7 -1.8 -6.9 Cash Flow from operations 15.1 23.7 -8.5 Debt repayments -7.2 -6.9 -0.3 Repayment of lease liabilities -9.2 -7.7 -1.6 Cash Flow after debt and lease service -1.3 9.1 -10.4 Net investments 2.2 -5.5 7.7 Change in loan facilities 19.7 20.1 -0.3 Free cash flow to equity 20.7 23.7 -3.0 Dividend to minority -0.2 -0.2 0.0 Dividend paid to equity holders of the Company -15.3 -24.8 9.5 Share buy-back 0.0 0.0 0.0 Change in Cash 5.2 -1.4 6.5 Effects of exchange rate fluctuations on cash held -2.9 0.1 -3.0 Cash position at end of period 29.9 25.7 4.2
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Key figures by quarter Financial numbers are in EURm 34
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We simply deliver
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36 Disclaimer Information contained in this presentation is based on sources that Eimskipafélag Íslands hf. (“Eimskip“ or the ”Company“) considers reliable at each time. Its accuracy or completeness can however not be guaranteed. Copyright of information contained in this presentation is owned by Eimskip. This presentation, including information contained therein, may not be copied, reproduced or distributed in any manner, neither wholly nor partly. This presentation is solely for information purposes and is not intended to form part of or be the basis of any decision making by its recipients. Nothing in this presentation should be construed as a promise or recommendation. Eimskip is not obliged to provide recipients of this presentation any further information on the Company or to make amendments or changes to this publication should inaccuracies or errors be discovered or opinions or information change. Statements contained in this presentation that refer to the Company’s estimated or anticipated future results or future activities are forward-looking statements which reflect the Company’s current analysis of existing trends, information and plans. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially depending on factors such as the availability of resources, the timing and effect of regulatory actions and other factors. Eimskip undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this presentation. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. All forward-looking statements are qualified in their entirety by this cautionary statement. By the receipt of this presentation the recipient acknowledges and accepts the aforesaid disclaimer and restrictions.