Euroholdings Ltd has released its financial results for the fourth quarter and full year ending December 31, 2025. Despite operating a smaller fleet than in the previous year, the company achieved a significant turnaround in profitability, driven by higher daily earning rates and strategic fleet management.
Fourth Quarter 2025: Return to Profitability
For the final quarter of 2025, Euroholdings reported a net income of $1.3 million, a sharp recovery from the $0.9 million net loss recorded in Q4 2024. This improvement came as total net revenues rose 24.9% to $4.5 million.
The company achieved these results with an average of 2.5 vessels, compared to 3.0 vessels in the prior year. The key driver was a higher Time Charter Equivalent (TCE) rate, which averaged $18,778 per day—an 17.5% increase over the $15,982 earned in Q4 2024.
| Q4 Financial Summary | Q4 2024 | Q4 2025 |
| Total Net Revenues | $3.6 million | $4.5 million |
| Net Income / (Loss) | ($0.9 million) | $1.3 million |
| Adjusted EBITDA | ($0.9 million) | $1.6 million |
| TCE Rate (per day) | $15,982 | $18,778 |
| Earnings Per Share | ($0.34) | $0.45 |
Twelve Months 2025: Annual Performance
For the full year 2025, the company’s net income soared to $14.7 million, compared to $3.8 million in 2024. While total annual revenue actually decreased by 15.4% (falling to $13.2 million due to a lower average vessel count of 2.2), the bottom line was bolstered by improved operational efficiencies and a stronger chartering market.
Annual operating expenses fell from $6.4 million in 2024 to $4.7 million in 2025, primarily because the company managed a leaner fleet.
Fleet and Operational Updates
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Dry-Docking: During Q4 2025, one vessel began a special survey and dry-docking at a cost of $0.3 million, with completion expected in Q1 2026. This is a significant decrease in maintenance spend compared to Q4 2024, when two vessels underwent surveys costing $2.2 million.
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New Acquisition: Depreciation expenses rose to $0.25 million in the fourth quarter following the acquisition of a new vessel during the period.
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Earnings Per Share: Basic and diluted EPS for the full year 2025 reached $5.25, a substantial increase from the $1.36 reported in 2024.
By focusing on higher-yielding charters and reducing vessel operating costs, Euroholdings has managed to deliver record annual earnings despite the reduction in its total fleet size.
