Western Bulk reports a net profit of USD 5.4 million for 2025 and a dividend of USD 4.3 million

12.02.2026

Western Bulk more than doubled its Net TC for the second half of 2025 to USD 20.1 million, from USD 9.3 million for the same period in 2024. Net profit after tax for the second half of 2025 was USD 7.4 million. For the full year of 2025, Net TC was 27.7 million and the result after tax was USD 5.4 million.

In the second half of the year, dry bulk markets recovered from the weak conditions earlier in 2025, with rates strengthening through the summer and into early autumn. The recovery was driven by strong Atlantic grain flows, improved coal demand in China, and resilient steel exports from Asia. The Group was well positioned to capture the upturn, with exposure to rising rates in the Handy, Supramax and Panamax segments.

CEO Torbjorn Gjervik commented: "We are pleased with the results and the progress we are making at Western Bulk. Overall, the market last year was not easy to trade, but we stayed disciplined and delivered solid results. In December, we also took a strategic step by re-entering ship ownership with selected partners, strengthening our platform and positioning the Group well for the next phase of the cycle. Looking ahead to 2026, we will continue to pursue opportunities and partnerships that further strengthen our platform, both on the people and asset side."

Western Bulk hereby declares a dividend per share of NOK 1,21 which equivalents to USD 4.3 million in total. The ex-dividend date is 16th of February, record date is 17th of February and payment date is 25th of February.

In relation to the release of the results, a digital investor presentation will be held by the company's CEO (Torbjorn Gjervik) and CFO (Kenneth Thu) on Monday 23rd of February at 13:00 CET. To attend the presentation, please register via the link published on the Investor Relations section of our website.

Half Year H2 2025 Financial Report

Western Bulk, press release