Elvictor Group Reports Strong Growth in Seafarer Deployment and Client Base, Projects Significant Expansion in 2025

Rhea-AI Summary

Elvictor Group (ELVG) reported robust Q1 2025 performance with net profit of $60,230 and revenue of $602,368, up from $572,709 in Q1 2024. The maritime recruitment company achieved significant operational milestones, deploying 3,187 seafarers in Q1 2025, marking a 41.23% increase from previous quarters. The client base expanded to 49 clients, representing a 32.43% year-over-year growth.

Throughout 2024, onboard seafarer numbers increased by 13.9% from 2,257 to 2,570, while the client base grew 16.22% from 37 to 43 clients. Looking ahead, Elvictor is in discussions to expand its fleet by over 100 vessels, with plans to onboard 40 vessels by end-2025, potentially adding 800 seafarers to its deployment roster.

Positive

• Net profit of $60,230 in Q1 2025
• Revenue increased to $602,368 from $572,709 YoY
• 41.23% increase in seafarer deployment to 3,187 in Q1 2025
• 32.43% YoY growth in client base to 49 clients
• Potential expansion of 40 additional vessels by end-2025
• Projected addition of 800 seafarers to deployment roster

Negative

• None.

ATHENS, GR / ACCESS Newswire / May 29, 2025 / Elvictor Group Inc. (OTC PINK:ELVG) ("Elvictor" or the "Company"), a leader in maritime recruitment and crew management, today announced substantial operational growth across key performance areas in Q1 2025, strengthening its market position and future outlook.

In Q1 2025, Elvictor reported strong financial results, reporting a net profit of $60,230. Revenue increased to $602,368, up from $572,709 in Q1 2024, driven by the Company's continued focus on operational efficiency and strategic positioning in the maritime crew management sector.

Operationally, Elvictor deployed 3,187 seafarers in Q1 2025, a 41.23% increase compared to the average of the two preceding quarters. The Company's client roster also expanded to 49 clients, reflecting a robust 32.43% year-over-year increase.

This momentum builds on steady growth achieved throughout 2024, during which onboard seafarer numbers rose from 2,257 in Q1 to 2,570 in Q4 - a 13.9% increase. During the same period, Elvictor's client base grew from 37 to 43, marking a 16.22% increase.

Looking forward, Elvictor is engaged in active discussions with potential new clients, representing a fleet expansion opportunity of over 100 vessels. Management anticipates onboarding up to 40 additional vessels by year-end 2025. This fleet growth could drive the deployment of an additional 800 seafarers and deliver a material increase in Elvictor's EBITDA.

Konstantinos S. Galanakis, CEO of Elvictor Group Inc. commented: "Our sustained growth trajectory underscores our commitment to excellence in maritime management and recruitment. As we continue to expand both our onboard workforce and client portfolio, we are confident in our ability to scale efficiently, enhance operational performance, and create long-term value for our stakeholders."

Elvictor's strong performance highlights the scalability of its digitalized platform, as well as its longstanding, trusted relationships within the global shipping industry. As the Company pursues further growth in 2025 and beyond, it remains committed to delivering operational excellence, financial transparency, and value-driven client partnerships.

About Elvictor Group, Inc.

Elvictor Group, Inc. (OTC PINK: ELVG) is transforming the fragmented maritime industry through its fully digitalized crew and ship management platform designed to enhance operational efficiency and reduce costs. With a strategic focus on AI-driven workforce solutions, M&A-driven expansion, and cost-efficient vessel ownership, Elvictor is ushering in a new era of transparency in the shipping industry. For more information, visit: https://www.elvictorgroup.com, and follow us on LinkedIn.

Investor and Media Contact:

Investor Relations
Jonathan.Paterson@harbor-access.com
Tel +1 475 477 9401

Cautionary Note Regarding Forward-Looking Statements

Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated status of such statements. Therefore, in no case whatsoever will the Company and its affiliates be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.

SOURCE: Elvictor Group Inc.

View the original press release on ACCESS Newswire

FAQ

What was Elvictor Group's (ELVG) revenue in Q1 2025?

Elvictor Group reported revenue of $602,368 in Q1 2025, an increase from $572,709 in Q1 2024.

How many seafarers did ELVG deploy in Q1 2025?

Elvictor deployed 3,187 seafarers in Q1 2025, representing a 41.23% increase compared to the average of the two preceding quarters.

What is Elvictor's (ELVG) projected growth for 2025?

Elvictor plans to onboard up to 40 additional vessels by end-2025, with potential fleet expansion of over 100 vessels, which could add 800 more seafarers to their deployment roster.

How much did ELVG's client base grow in 2024?

Elvictor's client base grew by 16.22% in 2024, increasing from 37 to 43 clients.

What was Elvictor Group's net profit in Q1 2025?

Elvictor Group reported a net profit of $60,230 in Q1 2025.