Western Bulk reports a net profit of USD 5.4 million for 2025 and a dividend of USD 4.3 million

Western Bulk more than doubled its Net TC for the second half of 2025 to USD 20.1 million, from USD 9.3 million for the same period in 2024. Net profit after tax for the second half of 2025 was USD 7.4 million. For the full year of 2025, Net TC was 27.7 million and the result after tax was USD 5.4 million.

In the second half of the year, dry bulk markets recovered from the weak conditions earlier in 2025, with rates strengthening through the summer and into early autumn. The recovery was driven by strong Atlantic grain flows, improved coal demand in China, and resilient steel exports from Asia. The Group was well positioned to capture the upturn, with exposure to rising rates in the Handy, Supramax and Panamax segments.

CEO Torbjørn Gjervik commented: “We are pleased with the results and the progress we are making at Western Bulk. Overall, the market last year was not easy to trade, but we stayed disciplined and delivered solid results. In December, we also took a strategic step by re-entering ship ownership with selected partners, strengthening our platform and positioning the Group well for the next phase of the cycle. Looking ahead to 2026, we will continue to pursue opportunities and partnerships that further strengthen our platform, both on the people and asset side.”

Western Bulk hereby declares a dividend per share of NOK 1,21 which equivalents to USD 4.3 million in total. The ex-dividend date is 16th of February, record date is 17th of February and payment date is 25th of February.

In relation to the release of the results, a digital investor presentation will be held by the company’s CEO (Torbjørn Gjervik) and CFO (Kenneth Thu) on Monday 23rd of February at 13:00 CET. To attend the presentation, please register via the link published on the Investor Relations section of our website. 

Half Year H2 2025 Financial Report

Contacts
For more information, please contact:

Torbjørn Gjervik, Chief Executive Officer
Tel: +47 940 28211
E-mail: torbjorn.gjervik@westernbulk.com

Kenneth Thu, Chief Financial Officer
Tel: +47 988 74302
E-mail: kenneth.thu@westernbulk.com

DISCLAIMERS

This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” "continue," “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Western Bulk Chartering believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.

The information, opinions and forward-looking statements contained in this release speak only as at its date and are subject to change without notice Western Bulk Chartering disclaims any obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.