Cmb.Tech NV (CMBT.BR), a diversified maritime group, on Wednesday reported a significant decrease in profit for the third quarter, despite sharply higher revenue, as results were weighed down by substantially higher expenses.
Profit before tax fell to $18.16 million from $99.32 million a year earlier.
Voyage expenses and commissions jumped to $110.24 million from $45.72 million a year earlier, while vessel operating costs increased to $116.87 million from $46.82 million. Depreciation and amortisation also rose sharply to $109.07 million, compared with $40.24 million last year, and net finance expenses surged to $111.19 million from $37.58 million.
Net income attributable to owners of the company dropped to $19.87 million, or $0.07 per basic share, down from $98.08 million, or $0.49 per share, in the same quarter a year earlier.
EBITDA or earnings before interest, taxes, depreciation and amortisation, however, rose to $238.43 million, up from $177.13 million last year.
Revenue more than doubled to $454.25 million, compared with $221.84 million a year earlier.
The company said it intends to propose an interim dividend of $0.05 per share, payable on or about January 15, 2026.
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