CMB.TECH posted $364M Q2 profit and $700M revenue, with $127M from asset sales. Fleet of 206 vessels averages under 6 years old. CapEx drops below $1B.
Alpha Score of 40 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
CMB.TECH NV posted a second-quarter profit of $364.4 million as revenue surged past $700 million, boosted by a $127 million gain from asset sales. CEO Alexander Saverys said on the earnings call that these are “exceptional times for shipping and also exceptional times for CMB.TECH.”
The company operates 206 vessels on the water, with 26 newbuildings on order. The fleet has an average age below six years. Contract backlog held steady at $3.3 billion. CMB.TECH’s market capitalization stands at $5.2 billion, and the fair market value of its fleet is $11.2 billion. Capital expenditure commitments have dropped to less than $1 billion, Saverys said.
The company is listed in New York, Brussels and Oslo under the ticker CMBT. The asset sale profit contributed significantly to the quarter’s results, which Saverys described as “making hay while the sun shines.”
CapEx commitments have fallen below $1 billion, and the backlog remains stable at $3.3 billion, Saverys said.
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