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Havila Shipping ASA ( (DE:H4S) ) has shared an update.
Havila Shipping ASA reported weaker quarterly results for the fourth quarter of 2025, as freight revenues fell to NOK 135.5 million amid lower rates and utilization, while operating expenses rose to NOK 91.1 million, driven partly by higher legal costs. The company’s profit before depreciation declined to NOK 52.7 million and it posted a loss before tax of NOK 26.2 million for the quarter, although fleet utilization remained high at 91% and the group continued to manage a mixed fleet of owned and externally owned vessels.
For the full year 2025, Havila Shipping achieved higher operating income of NOK 648.0 million and improved operating profit before depreciation of NOK 298.0 million, but higher depreciation and financial costs kept profit before tax broadly flat at NOK 10.3 million. The balance sheet shows solid liquidity with NOK 218.0 million in bank deposits and a fleet book value of NOK 1,125.4 million, but the company carries a substantial short-term debt burden, including loans from related parties with conversion rights, underscoring ongoing financial restructuring and leverage risks for stakeholders.
More about Havila Shipping ASA
Havila Shipping ASA is a Norwegian offshore shipping company that operates a fleet of 14 vessels from Fosnavåg, primarily platform supply vessels (PSVs), subsea vessels and a rescue and recovery vessel. The company focuses on providing offshore support services, including spot market operations and long-term contracts, to the oil and gas and subsea industries in the North Sea and related markets.
Average Trading Volume: 279,187
Current Market Cap: NOK306.8M
For detailed information about H4S stock, go to TipRanks’ Stock Analysis page.