ATHENS, GREECE, August 9, 2024 - Okeanis Eco Tankers Corp. (together with its
subsidiaries, unless context otherwise dictates, "OET" or the "Company") (NYSE:
ECO, OSE: OET) today reported its unaudited condensed financial results for the
second quarter and six-month period of 2024, which are attached to this press
release.
Financial performance of the Second Quarter Ended June 30, 2024
o Revenues of $112.0 million in Q2 2024, compared to $119.8 million in Q2 2023.
o Profit of $39.6 million in Q2 2024, compared to $52.9 million in Q2 2023.
o Earnings per share of $1.23 in Q2 2024, compared to $1.64 in Q2 2023.
o Cash (including restricted cash) of $98.1 million as of June 30, 2024,
compared to $86.1 million as of June 30, 2023.
Financial performance of the Six Months Ended June 30, 2024
o Revenues of $223.1 million in 6M 2024, compared to $232.4 million in 6M 2023.
o Profit of $81.1 million in 6M 2024, compared to $104.5 million in 6M 2023.
o Earnings per share of $2.52 in 6M 2024, compared to $3.25 in 6M 2023.
Alternative performance metrics and market developments
o Time charter equivalent ("TCE", a non-IFRS measure*) revenue of $79.4 million
in Q2 2024, compared to $91.2 million in Q2 2023.
o EBITDA and Adjusted EBITDA (a non-IFRS measure*) of $63.6 million and $63.9
million, respectively, in Q2 2024.
o Adjusted profit* and Adjusted earnings per share* (non-IFRS measures*) of
$39.7 million or $1.23 per basic and diluted share in Q2 2024.
o Fleetwide daily TCE rate of $64,900 per operating day in Q2 2024