Euroholdings Ltd Reports Results for the Quarter and Twelve-Month Period Ended December 31, 2025
Rhea-AI Summary
Euroholdings (NASDAQ: EHLD) reported Q4 2025 revenue of $4.5M, Q4 net income of $1.3M ($0.45/share) and full-year 2025 net income of $14.7M ($5.25/share).
The company declared a Q4 dividend of $0.14/share (annualized ~8%), completed the acquisition of M/T Hellas Avatar for $31.83M partly financed by a $20.0M bank loan, and recorded adjusted EBITDA of $4.7M for 2025.
Positive
- Full-year net income of $14.7M (2025)
- EPS $5.25 for 2025
- Declared dividend $0.14 per share (annualized ~8%)
- Completed acquisition of Hellas Avatar for $31.83M
- Adjusted EBITDA improved to $4.7M in 2025
- Gain on sale of vessel $10.2M (Diamantis P)
Negative
- Total net revenues down 15.4% YoY to $13.2M in 2025
- Average fleet reduced to 2.2 vessels in 2025 from 3.0 in 2024
- General & administrative expenses increased to $1.5M from $0.8M
- Drew $20.0M loan to partly finance tanker acquisition
News Market Reaction – EHLD
On the day this news was published, EHLD gained 3.37%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
EHLD fell 1.18% while key Marine Shipping peers were mixed: CTRM -3.9%, PSHG -4.65%, USEA -0.53%, EDRY -0.7%, but GLBS gained 11.89%, suggesting a largely stock-specific reaction.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 19 | Earnings date set | Neutral | -0.3% | Announced timing of Q4 2025 results release and related conference call. |
| Nov 17 | Earnings & acquisition | Positive | -0.5% | Reported Q3 2025 results and detailed acquisition of M/T Hellas Avatar tanker. |
| Nov 12 | Earnings date set | Neutral | -0.7% | Scheduled Q3 2025 results release and associated investor conference call. |
| Nov 05 | Tanker acquisition MOA | Positive | +2.9% | Signed MOA to buy 49,997 dwt MR tanker M/T Hellas Avatar for $31.83M. |
Recent fundamentally positive updates, including acquisitions and stronger profitability, often saw limited or even slightly negative next-day price reactions.
Over the past several months, Euroholdings has reported a series of profitability and fleet-transition milestones. Q1–Q3 2025 results highlighted rising time charter equivalent rates, solid adjusted EBITDA and recurring $0.14 quarterly dividends. The company also executed and then closed the acquisition of the 49,997 dwt product tanker M/T Hellas Avatar, reinforcing its pivot toward MR product tankers. Prior earnings-date announcements and the acquisition news saw modest share moves, indicating that even constructive developments have not consistently translated into strong immediate price responses.
Market Pulse Summary
This announcement details Euroholdings’ Q4 2025 and full-year 2025 results, including Q4 net revenues of $4.5M, net income of $1.3M, and full-year net income of $14.7M. Management highlights higher time charter equivalent rates and continued $0.14 quarterly dividends, alongside a strategic shift toward MR product tankers via the $31.83M Hellas Avatar purchase. Investors may monitor future earnings, fleet growth, dividend sustainability, and charter rate trends to assess how this strategy scales over time.
Key Terms
time charter equivalent rate technical
adjusted ebitda financial
adjusted net income financial
time charter technical
voyage charter technical
AI-generated analysis. Not financial advice.
ATHENS, Greece, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Euroholdings Ltd (NASDAQ: EHLD, the “Company” or “Euroholdings”), an owner and operator of container carrier and tanker vessels and provider of container and tanker seaborne transportation services, announced today its results for the three and twelve-month periods ended December 31, 2025. The Company was incorporated by Euroseas Ltd. (NASDAQ: ESEA, or "Euroseas") to serve as the holding company of three subsidiaries that were contributed by Euroseas to Euroholdings effective January 1, 2025; Euroseas spun-off Euroholdings on March 17, 2025, which has since been operated as an independent company. The results below refer to Euroholdings and its subsidiaries for the periods presented. Historical comparative periods reflect the results of the carve-out operations of the three vessels that were contributed to the Company.
Fourth Quarter 2025 Financial Highlights:
- Total net revenues of
$4.5 million . Net income of$1.3 million or$0.45 earnings per share basic and diluted. Adjusted net income1 for the period remained unchanged at$1.3 million or$0.45 per share basic and diluted. - Adjusted EBITDA1 was
$1.6 million . - An average of 2.5 vessels were owned and operated during the fourth quarter of 2025 earning an average time charter equivalent rate of
$18,778 per day. - Declared a quarterly dividend of
$0.14 per share for the fourth quarter of 2025, as in previous quarters, which is payable on or about March 17, 2026, to shareholders of record on March 10, 2026.
Twelve Months 2025 Financial Highlights:
- Total net revenues of
$13.2 million . Net income of$14.7 million or$5.25 earnings per share basic and diluted. Adjusted net income1 for the period was$4.5 million or$1.60 per share basic and diluted. - Adjusted EBITDA1 was
$4.7 million . - An average of 2.2 vessels were owned and operated during the twelve months of 2025 earning an average time charter equivalent rate of
$16,986 per day.
_________________
1Adjusted EBITDA, Adjusted net (loss) / income and Adjusted (loss) / income per share are not recognized measurements under US GAAP (GAAP) and should not be used in isolation or as a substitute for Euroholdings financial results presented in accordance with GAAP. Refer to a subsequent section of the Press Release for the definitions and reconciliation of these measurements to the most directly comparable financial measures calculated and presented in accordance with GAAP.
Recent developments:
- On November 18, 2025, M/T Hellas Avatar, a medium-range (MR) product tanker vessel with capacity of 49,997 dwt, built in 2015 in South Korea, was delivered to the Company. The vessel was purchased for a price of
$31.83 million from an affiliated party. An independent committee of disinterested directors was formed to evaluate and approve the transaction. A loan of$20.0 million was drawn from Piraeus Bank S.A. to partly finance the acquisition of the vessel.
Aristides Pittas, Chairman, President and CEO of Euroholdings, commented: “One more time, we are pleased to report solid results for the fourth quarter of 2025, consistent with our performance in the previous quarters. Our elder containerships are contracted out until the end of this year on profitable charters making significant cash flow contributions, with the potential for at least one of them, and possibly both, to be re-chartered for additional periods if market conditions would allow it.
“In line with our strategic repositioning, in November 2025, we completed the acquisition of a 2015-built medium-range product tanker marking an important step in the re-focusing of our investments in the product tanker sector. We plan to further strengthen and grow our fleet in this sector through the purchase of an additional modern medium-range product tanker in the very near future.
“Furthermore, we are pleased to declare our fourth quarterly dividend, representing an annualized yield of approximately
Athina Atalioti, Chief Financial Officer of Euroholdings, commented: “Comparing our results for the fourth quarter of 2025 with the same period of 2024, our net revenues increased by about
“Total daily vessel operating expenses, including management fees, general and administrative expenses but excluding drydocking costs, averaged
“Adjusted EBITDA1 during the fourth quarter of 2025 was
Fourth Quarter 2025 Results:
For the fourth quarter of 2025, the Company reported total net revenues of
For the fourth quarter of 2025, voyage expenses amounted to
Vessel operating expenses decreased to
During the fourth quarter of 2025, one vessel commenced her special survey with dry-dock to complete it during the first quarter of 2026, for a total cost of
Vessel depreciation for the fourth quarter of 2025 increased to
Related party management fees for the period were
General and administrative expenses remained unchanged at
Interest and finance cost increased to
The Company reported net income for the fourth quarter of 2025 of
Adjusted EBITDA1 for the fourth quarter of 2025 was
Basic and diluted earnings per share for the fourth quarter of 2025 was
The adjusted earnings for the quarter ended December 31, 2025, increased to
Twelve Months 2025 Results:
For the twelve months of 2025, the Company reported total net revenues of
In 2025, voyage expenses were
Vessel operating expenses were
Related party management fees for 2025 decreased to
General and administrative expenses for 2025 were
During 2025 one of our vessels completed its intermediate survey and another one entered dry-dock in order to pass its special survey that was completed in 2026, for a total cost of
Vessel depreciation for 2024 was
On January 10, 2025, the Company signed an agreement to sell M/V Diamantis P, a 2,008 teu container carrier, built in 1998, for further trading, for approximately
Interest and other financing costs for 2025 were
Interest income increased to
The Company reported net income for the period of
Adjusted EBITDA1 for 2025 was
Basic and diluted earnings per share for 2025 was
Excluding the effect on the earnings of the gain on sale of vessel, the adjusted earnings for the year ended December 31, 2025, would have been
Fleet Profile:
Euroholdings Ltd. fleet profile is as follows:
| Name | Type | Dwt | TEU | Year Built | Employment (*) | TCE Rate ($/day) | |
| JOANNA (**) | Feeder | 22,301 | 1,732 | 1999 | TC until Mar-26 then until Sep-26, then until Nov-26 | ||
| AEGEAN EXPRESS (*) | Feeder | 18,581 | 1,439 | 1997 | TC until Nov-26 | ||
| Total Container Carriers | 2 | 40,882 | 3,171 | ||||
| HELLAS AVATAR | Product Tanker | 49,997 | 2015 | Spot | |||
| Total Tankers | 1 | 49,997 | |||||
| Grand Total | 3 | 90,879 | |||||
Note:
(*) TC denotes time charter. All dates listed are the earliest redelivery dates under each TC.
(**) Period to November 2026 is at the option of the charterer.
Summary Fleet Data:
| 3 months, ended December 31, 2024 | 3 months, ended December 31, 2025 | 12 months ended December 31, 2024 | 12 months ended December 31, 2025 | |||||
| FLEET DATA | ||||||||
| Average number of vessels (1) | 3.0 | 2.5 | 3.0 | 2.2 | ||||
| Calendar days for fleet (2) | 276.0 | 227.4 | 1,098.0 | 787.8 | ||||
| Scheduled off-hire days incl. laid-up (3) | 47.7 | 11.7 | 58.7 | 19.0 | ||||
| Available days for fleet (4) = (2) - (3) | 228.3 | 215.7 | 1,039.3 | 768.8 | ||||
| Commercial off-hire days (5) | - | - | 3.3 | - | ||||
| Operational off-hire days (6) | 0.2 | 3.6 | 4.0 | 3.6 | ||||
| Voyage days for fleet (7) = (4) - (5) - (6) | 228.1 | 212.1 | 1,032.0 | 765.2 | ||||
| Fleet utilization (8) = (7) / (4) | 99.9 | % | 98.3 | % | 99.3 | % | 99.5 | % |
| Fleet utilization, commercial (9) = ((4) - (5)) / (4) | 100.0 | % | 100.0 | % | 99.9 | % | 100.0 | % |
| Fleet utilization, operational (10) = ((4) - (6)) / (4) | 99.9 | % | 98.3 | % | 99.6 | % | 99.5 | % |
| AVERAGE DAILY RESULTS | ||||||||
| Time charter equivalent rate (11) | 15,982 | 18,778 | 15,025 | 16,986 | ||||
| Vessel operating expenses excl. drydocking expenses (12) | 7,363 | 7,378 | 6,670 | 7,122 | ||||
| General and administrative expenses (13) | 725 | 994 | 744 | 1,850 | ||||
| Total vessel operating expenses (14) | 8,088 | 8,372 | 7,414 | 8,972 | ||||
| Drydocking expenses (15) | 7,888 | 1,149 | 2,383 | 797 | ||||
(1) Average number of vessels is the number of vessels that constituted the Company’s fleet for the relevant period, as measured by the sum of the number of calendar days each vessel was a part of the Company’s fleet during the period divided by the number of calendar days in that period.
(2) Calendar days. We define calendar days as the total number of days in a period during which each vessel in our fleet was owned by us including off-hire days associated with major repairs, drydockings or special or intermediate surveys or days of vessels in lay-up. Calendar days are an indicator of the size of our fleet over a period and affect both the amount of revenues and the amount of expenses that we record during that period.
(3) The scheduled off-hire days including vessels laid-up, vessels committed for sale or vessels that suffered unrepaired damages, are days associated with scheduled repairs, drydockings or special or intermediate surveys or days of vessels in lay-up, or vessels that were committed for sale or suffered unrepaired damages.
(4) Available days. We define available days as the total number of Calendar days in a period net of scheduled off-hire days as defined above. We use available days to measure the number of days in a period during which vessels were available to generate revenues.
(5) Commercial off-hire days. We define commercial off-hire days as days a vessel is idle without employment.
(6) Operational off-hire days. We define operational off-hire days as days associated with unscheduled repairs or other off-hire time related to the operation of the vessels.
(7) Voyage days. We define voyage days as the total number of days in a period during which each vessel in our fleet was in our possession net of commercial and operational off-hire days. We use voyage days to measure the number of days in a period during which vessels actually generate revenues or are sailing for repositioning purposes.
(8) Fleet utilization. We calculate fleet utilization by dividing the number of our voyage days during a period by the number of our available days during that period. We use fleet utilization to measure a company's efficiency in finding suitable employment for its vessels and minimizing the number of days that its vessels are off-hire for reasons such as unscheduled repairs or days waiting to find employment.
(9) Fleet utilization, commercial. We calculate commercial fleet utilization by dividing our available days net of commercial off-hire days during a period by our available days during that period.
(10) Fleet utilization, operational. We calculate operational fleet utilization by dividing our available days net of operational off-hire days during a period by our available days during that period.
(11) Average time charter equivalent rate, or average TCE, is a measure of the average daily net revenue performance of our vessels. Our method of calculating average TCE is determined by dividing time charter revenue and voyage charter revenue, if any, net of voyage expenses by voyage days for the relevant time period. Voyage expenses primarily consist of port, canal and fuel costs that are unique to a particular voyage, which would otherwise be paid by the charterer under a time charter contract or are related to repositioning the vessel for the next charter. Average TCE provides additional meaningful information in conjunction with time charter revenue and voyage charter revenue, the most directly comparable GAAP measure, because it assists our management in making decisions regarding the deployment and use of our vessels and because we believe that it provides useful information to investors regarding our financial performance. Average TCE is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company's performance despite changes in the mix of charter types (i.e., spot voyage charters, time charters, pool agreements and bareboat charters) under which the vessels may be employed between the periods. Our definition of average TCE may not be comparable to that used by other companies in the shipping industry.
(12) We calculate daily vessel operating expenses, which include crew costs, provisions, deck and engine stores, lubricating oil, insurance, maintenance and repairs and related party management fees by dividing vessel operating expenses and related party management fees by fleet calendar days for the relevant time period. Drydocking expenses are reported separately.
(13) Daily general and administrative expense is calculated by us by dividing general and administrative expenses by fleet calendar days for the relevant time period.
(14) Total vessel operating expenses, or TVOE, is a measure of our total expenses associated with operating our vessels. We compute TVOE as the sum of vessel operating expenses, related party management fees and general and administrative expenses; drydocking expenses are not included. Daily TVOE is calculated by dividing TVOE by fleet calendar days for the relevant time period.
(15) Daily drydocking expenses is calculated by us by dividing drydocking expenses by the fleet calendar days for the relevant period. Drydocking expenses include expenses during drydockings that would have been capitalized and amortized under the deferral method. Drydocking expenses could vary substantially from period to period depending on how many vessels underwent drydocking during the period. The Company expenses drydocking expenses as incurred.
Conference Call and Webcast: Tomorrow, February 25, 2026 at 09:00 a.m. Eastern Time, the Company's management will host a conference call and webcast to discuss the results.
Conference Call details:
Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 877 405 1226 (US Toll-Free Dial In) or +1 201 689 7823 (US and Standard International Dial In). Please quote “EuroHoldings” to the operator and/or conference ID 13758898. Click here for additional participant International Toll-Free access numbers.
Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Click here for the call me option.
Audio Webcast- Slides Presentation:
There will be a live and then archived webcast of the conference call and accompanying slides, available on the Company’s website. To listen to the archived audio file, visit our website http://www.euroholdings.gr and click on Company Presentations under our Investor Relations page. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
The slide presentation for the fourth quarter ended December 31, 2025, will also be available in PDF format 10 minutes prior to the conference call and webcast, accessible on the company's website (www.euroholdings.gr) on the webcast page. Participants to the webcast can download the PDF presentation.
| Euroholdings Ltd. Unaudited Consolidated Condensed Statements of Operations (All amounts expressed in U.S. Dollars – except number of shares) | ||||||||
| Three Months Ended December 31, 2024 | Three Months Ended December 31, 2025 | Twelve months Ended December 31, 2024 | Twelve months Ended December 31, 2025 | |||||
| (unaudited) | ||||||||
| Revenues | ||||||||
| Time charter revenue | 3,764,234 | 2,812,870 | 16,043,730 | 11,919,860 | ||||
| Voyage charter revenue | - | 1,892,232 | 473,055 | 1,892,232 | ||||
| Commissions | (179,617 | ) | (226,682 | ) | (876,154 | ) | (583,741 | ) |
| Net revenues | 3,584,617 | 4,478,420 | 15,640,631 | 13,228,351 | ||||
| Operating expenses / (income) | ||||||||
| Voyage expenses | 118,824 | 722,291 | 1,010,520 | 814,615 | ||||
| Vessel operating expenses | 1,788,920 | 1,412,008 | 6,351,471 | 4,730,334 | ||||
| Drydocking expenses | 2,177,237 | 261,348 | 2,616,834 | 628,216 | ||||
| Vessel depreciation | 10,266 | 249,473 | 43,070 | 302,962 | ||||
| Related party management fees | 243,402 | 265,849 | 971,346 | 880,359 | ||||
| General and administrative expenses | 200,095 | 226,081 | 817,098 | 1,457,535 | ||||
| Gain on sale of vessel | - | - | - | (10,230,210 | ) | |||
| Total Operating expenses / (income), net | 4,538,744 | 3,137,050 | 11,810,339 | (1,416,189 | ) | |||
| Operating (loss) / income | (954,127 | ) | 1,341,370 | 3,830,292 | 14,644,540 | |||
| Other income / (expenses) | ||||||||
| Interest and other financing costs | - | (137,787 | ) | (65,989 | ) | (137,787 | ) | |
| Foreign exchange gain/ (loss) | 6,200 | (2,391 | ) | 8,940 | (23,665 | ) | ||
| Interest income | - | 68,859 | - | 226,779 | ||||
| Other income / (expenses), net | 6,200 | (71,319 | ) | (57,049 | ) | 65,327 | ||
| Net (loss) / income | (947,927 | ) | 1,270,051 | 3,773,243 | 14,709,867 | |||
| (Loss) / earnings per share, basic and diluted | (0.34 | ) | 0.45 | 1.36 | 5.25 | |||
| Weighted average number of shares, basic and diluted | 2,780,855 | 2,816,615 | 2,780,855 | 2,799,666 | ||||
| Euroholdings Ltd. Unaudited Consolidated Condensed Balance Sheets (All amounts expressed in U.S. Dollars – except number of shares) | ||
| December 31, 2024 | December 31, 2025 | |
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | 129,541 | 3,343,183 |
| Trade accounts receivable | 443,229 | 1,831,129 |
| Other receivables | 65,259 | 194,160 |
| Inventories | 647,879 | 611,039 |
| Prepaid expenses | 107,799 | 216,500 |
| Due from related company | 980,952 | 1,059,884 |
| Total current assets | 2,374,659 | 7,255,895 |
| Fixed assets: | ||
| Vessels, net | 6,238,768 | 35,168,249 |
| Long-term assets: | ||
| Restricted cash | - | 300,000 |
| Total assets | 8,613,427 | 42,724,144 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Long-term bank loan, current portion | - | 1,516,677 |
| Trade accounts payable | 1,510,281 | 802,229 |
| Accrued expenses | 710,587 | 567,356 |
| Deferred revenue | 153,791 | 1,440,012 |
| Total current liabilities | 2,374,659 | 4,326,274 |
| Long-term bank loan, net of current portion | - | 18,346,134 |
| Total long-term liabilities | - | 18,346,134 |
| Total liabilities | 2,374,659 | 22,672,408 |
| Shareholders' equity: | ||
| Share capital ( | - | 28,166 |
| Additional paid-in capital | - | 6,496,682 |
| Net former parent company investment | 6,238,768 | - |
| Retained earnings | - | 13,526,888 |
| Total shareholders’ equity | 6,238,768 | 20,051,736 |
| Total liabilities and shareholders’ equity | 8,613,427 | 42,724,144 |
| Euroholdings Ltd. Unaudited Consolidated Condensed Statements of Cash Flows (All amounts expressed in U.S. Dollars) | ||||
| Twelve Months Ended December 31, | Twelve Months Ended December 31, | |||
| 2024 | 2025 | |||
| Cash flows from operating activities: | ||||
| Net income | 3,773,243 | 14,709,867 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Vessel depreciation | 43,070 | 302,962 | ||
| Share based compensation cost | - | 286,080 | ||
| Gain on sale of vessel | - | (10,230,210 | ) | |
| Amortization of deferred charges | 33,740 | 2,811 | ||
| Changes in operating assets and liabilities | 1,111,343 | (1,129,119 | ) | |
| Net cash provided by operating activities | 4,961,396 | 3,942,391 | ||
| Cash flows from investing activities: | ||||
| Cash paid for vessel acquisitions and vessel improvements | (208,134 | ) | (31,981,257 | ) |
| Net proceeds from sale of vessel | - | 12,875,487 | ||
| Net cash used in investing activities | (208,134 | ) | (19,105,770 | ) |
| Cash flows from financing activities: | ||||
| Proceeds from long- term debt | - | 20,000,000 | ||
| Repayment of long-term bank loan | (1,925,000 | ) | - | |
| Loan arrangement fees paid | - | (140,000 | ) | |
| Net transfers to former parent company | (3,192,108 | ) | - | |
| Dividends paid | - | (1,182,979 | ) | |
| Net cash (used in) / provided by financing activities | (5,117,108 | ) | 18,677,021 | |
| Net (decrease) / increase in cash, cash equivalents and restricted cash | (363,846 | ) | 3,513,642 | |
| Cash, cash equivalents and restricted cash at beginning of year | 493,387 | 129,541 | ||
| Cash, cash equivalents and restricted cash at end of year | 129,541 | 3,643,183 | ||
| Euroholdings Ltd. Reconciliation of Adjusted EBITDA to Net (loss) / income (All amounts expressed in U.S. Dollars) | ||||||
| Three Months Ended December 31, 2024 | Three Months Ended December 31, 2025 | Twelve Months Ended December 31, 2024 | Twelve Months Ended December 31, 2025 | |||
| Net (loss) / income | (947,927 | ) | 1,270,051 | 3,773,243 | 14,709,867 | |
| Interest and other financing costs / (interest income) - net | - | 68,928 | 65,989 | (88,992 | ) | |
| Vessel depreciation | 10,266 | 249,473 | 43,070 | 302,962 | ||
| Gain on sale of vessel | - | - | - | (10,230,210 | ) | |
| Adjusted EBITDA1 | (937,661 | ) | 1,588,452 | 3,882,302 | 4,693,627 | |
Adjusted EBITDA1 Reconciliation:
Euroholdings Ltd. considers Adjusted EBITDA to represent net (loss) / income before interest and other financing costs, income taxes, depreciation and gain on sale of vessel. Adjusted EBITDA does not represent and should not be considered as an alternative to net income, as determined by United States generally accepted accounting principles, or GAAP. Adjusted EBITDA is included herein because as a supplemental basis upon which the Company assesses its financial performance and because the Company believes that this non-GAAP financial measure assists our management and investors by increasing the comparability of our performance from period to period by excluding the potentially disparate effects between periods of financial costs, gain on sale of vessel and depreciation. The Company's definition of Adjusted EBITDA may not be the same as that used by other companies in shipping or other industries.
| Euroholdings Ltd. Reconciliation of Adjusted net (loss) / income1 to Net (loss) / income (All amounts expressed in U.S. Dollars – except share data and number of shares) | ||||||
| Three Months Ended December 31, 2024 | Three Months Ended December 31, 2025 | Twelve Months Ended December 31, 2024 | Twelve Months Ended December 31, 2025 | |||
| Net (loss) / income | (947,927 | ) | 1,270,051 | 3,773,243 | 14,709,867 | |
| Gain on sale of vessel | - | - | - | (10,230,210 | ) | |
| Adjusted net (loss) / income | (947,927 | ) | 1,270,051 | 3,773,243 | 4,479,657 | |
| Adjusted (loss) / earnings per share, basic and diluted | (0.34 | ) | 0.45 | 1.36 | 1.60 | |
| Weighted average number of shares, basic and diluted | 2,780,855 | 2,816,615 | 2,780,855 | 2,799,666 | ||
Adjusted net (loss) / income1 and Adjusted (loss) / earnings per share Reconciliation:
Euroholdings Ltd. considers Adjusted net (loss) / income to represent net (loss) / income before gain on sale of vessel. Adjusted net (loss) / income and Adjusted (loss) / earnings per share are included herein because we believe they assist our management and investors by increasing the comparability of the Company's fundamental performance from period to period by increasing the comparability of the Company's fundamental performance from period to period by excluding the potentially disparate effects between periods of gain on sale of vessel, which may significantly affect results of operations between periods.
Adjusted net (loss) / income and Adjusted (loss) / earnings per share do not represent and should not be considered as an alternative to net (loss) / income or earnings per share, as determined by GAAP, The Company's definition of Adjusted net (loss) / income and Adjusted (loss) / earnings per share may not be the same as that used by other companies in the shipping or other industries. Adjusted net (loss) / income and Adjusted (loss) / earnings per share are not adjusted for all non-cash income and expense items that are reflected in our statement of cash flows.
About Euroholdings Ltd.
Euroholdings Ltd. was formed on March 20, 2024, under the laws of the Republic of the Marshall Islands. The Company was incorporated by Euroseas Ltd. (NASDAQ: ESEA, or "Euroseas") to serve as the holding company of three subsidiaries that were contributed by Euroseas effective January 1, 2025. On March 17, 2025, Euroseas distributed all the shares of Euroholdings to its shareholders thereby spinning off Euroholdings. Euroholdings began trading on NASDAQ Capital Market under the ticker EHLD on March 18, 2025.
Euroholdings operates in the container shipping market. Euroholdings' operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroholdings employs its vessels on period charters.
The Company has a fleet of 2 Feeder container carriers with a total carrying capacity of 3,171 TEU and a medium range (MR) product tanker with capacity of 49,997 dwt.
Forward Looking Statement
This press release contains forward-looking statements, including as defined under U.S. federal securities laws, concerning future events. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words such as “anticipates,” “may,” “potential,” “predicts,” “projects,” “should,” "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ materially include, but are not limited to, changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission (the “SEC”). Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC’s website at www.sec.gov.
Visit our website www.Euroholdings.gr
| Company Contact | Investor Relations / Financial Media |
| Tasos Aslidis Chief Strategy Officer & Treasurer Euroholdings Ltd. 11 Canterbury Lane, Watchung, NJ07069 Tel. (908) 301-9091 E-mail: aha@Euroholdings.gr | Nicolas Bornozis/Markella Kara Capital Link, Inc. 230 Park Avenue, Suite 1540 New York, NY10169 Tel. (212) 661-7566 E-mail: euroholdings@capitallink.com |
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