{"header":{"OB_REQUEST_ID":"8952c942-3211-4ba1-8e61-c551fac413cb","result.val":0,"http.code":200,"result.text":"OK"},"data":{"message":{"id":680646,"messageId":680646,"newsId":633184,"title":"KCC Second Quarter 2026   Solid Q2 financials driven by strong markets and operations amidst geopolitical turmoil","body":"Oslo, 25 August 2026: Klaveness Combination Carriers ASA (\"KCC\") reported\nEBITDA of USD 38.5 million and Profit after tax of USD 20.8 million for the\nsecond quarter of 2026, representing a strong improvement from the first\nquarter. Fleet average TCE earnings [1] increased by $4,350/day to $37,782/day\nfrom Q1 to Q2. This was supported by tighter, though very volatile, markets -\npartly driven by the situation in the Middle East.\n\nCEO Engebret Dahm commented: \"With the delivery of our third and final CABU\nnewbuilding on 6 August, our full fleet of 19 vessels is now in operation and\nis well positioned to benefit from robust product tanker and dry bulk markets.\nFollowing a strong second quarter, we see a positive outlook for the second\nhalf of 2026, supported by continued market tightness and lower KCC\ndry-docking activity.\"\n\nKCC owns and operates a fleet of 19 combination carriers built for the\ntransportation of both wet and dry bulk cargoes. The vessels are operated in\ntrades where they efficiently combine dry and wet cargoes with minimum\nballast, capitalizing on imbalances in global trade flows.\n\nHighlights for Second Quarter 2026:\n\n* EBITDA of USD 38.5 million (Q1 2026: USD 29.3 million) and Profit after tax\n  of USD 20.8 million (Q1 2026: USD 15.6 million)\n\n* Fleet TCE earnings [1] of $37,782/day (Q1 2026: $33,432/day), secured in\n  extremely volatile markets\n\n* Q2 2026 dividend of USD 0.30 per share, totalling USD 17.8 million (Q1 2026:\n  USD 0.25 per share)\n\n* Banastar exited the Strait of Hormuz on 25 June 2026\n\n* Backed by a new Alunorte contract, the operating life of Banastar will be\n  extended beyond 25-years\n\n* USD 200 million bank facility closed, refinancing existing debt on favorable\n  terms\n\n* The third and final CABU newbuild, equipped with wind-assisted propulsion,\n  was delivered on 6 August 2026, completing the CABU newbuilding program\n  \"before time and cost\"\n\nThe 31% increase in EBITDA and 33% increase in profit after tax from Q1 to Q2\n2026 were mainly driven by higher TCE earnings in both segments, supported by\nstronger markets and increased wet trading, partly offset by lower trading\nefficiency caused by disruptions related to the Middle East situation. Lost\nearnings days related to one CABU vessel being off-hire in the Middle East\nGulf and one CLEANBU vessel's prolonged yard stay were largely compensated by\nloss-of-hire insurance. Return on capital employed was 14% for Q2 and Return\non equity 22% [1].\n\nEBITDA and profit after tax for the first half of 2026 were USD 67.9 million\nand USD 36.3 million, respectively, up more than 100% and close to 230% from\nthe same period last year. While net revenue and other income increased\napproximately 60% compared to last year, expenses increased approximately 25%\nmainly due to a bigger fleet in operation.\n\nThe Board of Directors declares a quarterly dividend of USD 0.30 per share (Q1\n2026: USD 0.25 per share) amounting to approximately USD 17.8 million,\nequaling 100% of the Adjusted Cash Flow to Equity (ACFE) for Q2 2026 [1].\n\nKCC enters the second half of 2026 supported by all three newbuilds in full\noperation from early August, reduced dry-docking activity and continued\nstrength in key markets. While geopolitical uncertainty remains high, KCC\nexpects market conditions and fleet utilization to remain supportive over the\nnext quarters. Based on current fixed days equal to 94% of the fleet capacity\nand assuming FFA-pricing for the open days, Q3 2026 TCE earnings guidance for\nthe CABU fleet is $33,500-34,500/day and $36,500-38,500/day for the CLEANBU\nfleet based on current fixed days equal to 80% [2].\n------------------------------------------------------------------------------\n[1] TCE earnings $/day, Return On Equity (ROE), Return On Capital Employed\n(ROCE) and Adjusted Cash Flow to Equity (ACFE) are alternative performance\nmeasures (APMs) which are defined and reconciled in the excel sheet\n\"APM2Q2026\" published on the Company's homepage Investor Relations/Reports and\nPresentations under the section for the Q2 2026 report. The address to the\nCompany's homepage is: www.combinationcarriers.com\n(https://www.combinationcarriers.com/).\n\n[2] Estimate based on booked cargoes and expected employment for open capacity\nbasis forward freight pricing (FFA).\n------------------------------------------------------------------------------\nInvitation to presentation of Q2 2026 financial results\n\nIn connection with the release of financial results for the second quarter of\n2026, Klaveness Combination Carriers ASA (\"KCC\") will hold a webcast\npresentation at 09:00 CEST on Tuesday 25 August, 2026.\n\nTo follow the webcast live go to\nhttps://www.combinationcarriers.com/investor-relations/overview or copy and\npaste the following link to your browser:\nhttps://www.combinationcarriers.com/kcc-q2-2026-financial-results.\n\nQuestions for the Q&A session can be submitted in writing through the webcast\nsolution during the presentation.\n\nFor further queries, please contact:\nEngebret Dahm, CEO, tel.: +47 957 46 851\nLiv Dyrnes, CFO and Deputy CEO, tel.: +47 976 60 561\n\nAbout Klaveness Combination Carriers ASA:\nKCC is the world leader in combination carriers, owning and operating 11 CABU\nand eight CLEANBU combination carriers. KCC's combination carriers are built\nfor transportation of both wet and dry bulk cargoes, being operated in trades\nwhere the vessels efficiently combine dry and wet cargoes with minimum\nballast. Through their high utilization and trading efficiency, the vessels\nemit up to 35% less CO2 per transported ton compared to standard tanker and\ndry bulk vessels in current and targeted combination trading patterns.\n\nThis information is subject to disclosure under the Norwegian Securities\nTrading Act, §5-12. The information was submitted for publication, through the\nagency of the contact persons set out above, at 2026-08-25 07:00 CEST.","category":[{"id":1002,"category_no":"HALVÅRSRAPPORT","category_en":"HALF YEAR FINANCIAL REPORT"}],"markets":["XOSL"],"issuerId":12197,"correctionForMessageId":0,"correctedByMessageId":0,"issuerSign":"KCC","issuerName":"Klaveness Combination Carriers ASA","instrId":0,"instrumentName":"","instrumentFullName":"","publishedTime":"2026-08-25T05:01:27.983Z","test":false,"numbAttachments":2,"attachments":[{"id":331828,"name":"KCC Second Quarter 2026 Report.pdf"},{"id":331829,"name":"KCC Second Quarter 2026 Presentation.pdf"}],"clientAnnouncementId":"a6855060-6464-409e-9f04-73e7ef74fe0e","infoRequired":1,"oamMandatory":1}}}