Skip to main contentSkip to navigationSkip to search
XOSL (MPCC)

MPC Container Ships Reports Q1 2025 Results and Updated Capital Allocation Strategy

Regulatory

Oslo, Norway, 22 May 2025 - MPC Container Ships ("MPCC" or the "Company", Oslo Børs Ticker: MPCC), today presented its quarterly results for the first quarter of 2025. The Company delivered strong operational and financial performance in the first quarter, supported by a solid contract backlog that provides high visibility into earnings for 2025 and 2026. Strategic fleet renewal efforts progressed with the divestment of less efficient vessels and the delivery of a modern, dual-fuel vessel, reinforcing the company’s commitment to fleet renewal, sustainability and efficiency. The company successfully expanded its sustainability-linked bond with a USD 75m tap issue and entered the Japanese financing market for the first time, enhancing the capital structure. Full-year 2025 financial guidance is reaffirmed, signaling continued confidence in the company’s outlook.

Highlights Q1 2025:

  • Charter backlog of USD 1.1 billion with almost full contract coverage for 2025 (96%) and high coverage for 2026 (77%)
  • Quarterly recurring dividend of USD 0.08 per share, bringing the total dividends to over USD 1 billion declared since February 2022
  • Reaffirmed guidance for 2025 of operating revenues in the range of USD 485-500 million and EBITDA in the range of USD 305-325 million
  • Operating revenues of USD 127.1 million (Q1 2024: USD 147.5 million) and EBITDA of USD 77.8 million (Q1 2024: USD 96.1 million). EBITDA adjusted for non-recurring items was USD 66.2 million (Q1 2024: USD 96.3 million)
  • Profit for the period was USD 59.7 million (Q1 2024: USD 76.5 million) and USD 48.2 million adj. for non-recurring items (Q1 2024: USD 76.7 million)
  • The balance sheet remains solid, with a leverage ratio of 32.2%
  • Adj. EPS was USD 0.11 (Q1 2024: USD 0.17)
  • As at 31 March 2025, the Group's fleet consisted of 59 vessels, with an aggregate capacity of approximately 141,000 TEU

Co-CEO and CFO Moritz Fuhrmann, comments:
“In Q1 2025, we advanced our fleet renewal strategy with the delivery of our first dual-fuel newbuilding and the sale of seven older vessels, enhancing both efficiency and sustainability. On the financing side, we strengthened our position through a successful tap issue of our sustainability-linked bond and entered the Japanese financing market, reinforcing our commitment to sustainable growth and long-term value creation.”

CEO Constantin Baack added:
“Despite the current geo-political, macro-economic and regulatory environment, the container market continues to show resilience, supported by strong second-hand demand, firm time-charter rates as well as durations, and basically no idle capacity.

While the overall orderbook remains significant, the limited new supply in the small to mid-size segment, combined with an ageing fleet and shifting trade patterns, presents a favorable supply-demand dynamic as well as opportunities for modernization and acquisitions. In this environment, we are taking a measured approach to new investments.

We have developed MPCC successfully in different market phases. We expect robust growth in intra-regional trade demand, while the small to mid-sized segments are underinvested, and we see a lot of potential going forward. Strong investment capacity is more important than ever, ensuring that we can act decisively when attractive opportunities arise. As we rebalance our capital allocation approach, we continue to be committed to sustainable dividends, but at the same time ensuring investment capacity for strategic, opportunistic growth investments to build long-term value.”

Capital allocation strategy:
The Board of Directors of MPCC has decided to rebalance the Company’s capital allocation strategy including the dividend policy. The Company remains committed to shareholder returns. The new dividend policy combines a sustainable, recurring cash dividend with cash earnings retained in order to continue to develop MPCC as a leading tonnage provider and create long-term value for the company and its shareholders through an opportunistic approach to growth and strategic fleet renewal. The new policy will be implemented with effect from Q2 2025, payable in Q3 2025.

The new policy will adjust the pay-out level to pay regular dividends by way of distributing 30-50% of net profits after considering CAPEX and working capital requirements, including liquidity reserves, and non-recurring items.

MPCC’s dividend policy is based on quarterly dividend payments approved by the Board of Directors based on the authorization from the General Meeting.

Q1 2025 Earnings Call:
Constantin Baack, CEO, and Moritz Fuhrmann, Co-CEO and CFO, will present the results in an earnings call today at 15:00 CEST, followed by a Q&A session. The earnings call can be accessed live via webcast and questions can be submitted in writing. A recording will be available on demand at the Company's website after the live event has concluded.
 
The Q1 2025 report and presentation materials are attached to this release and available on the Company’s website: https://www.mpc-container.com/investors/
 
The webcast can be accessed through the following link: Webcast Q1 2025

For more information, contact:
[email protected]

About MPC Container Ships
MPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage provider focusing on small to mid-size container ships. Its main activity is to own and operate a portfolio of container ships serving intra-regional trade lanes on fixed-rate charters. The Company is registered and has its business office in Oslo, Norway. For more information, please visit www.mpc-container.com.

Forward-looking statements:
This announcement includes forward-looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, changes and trends in its business, the markets in which it operates and its restructuring efforts. These statements are made based upon management's current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward-looking statements, you should keep in mind the risks described from time to time in the Company's regulatory filings and periodical reporting. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.

This information has been submitted pursuant to the Securities Trading Act § 5-12 and MAR Article 17. The information was submitted for publication at 2025-05-22 07:00 CEST.

Attachments
MPCC Q1 2025 Financial Report
MPCC Q1 2025 Earnings Call Presentation

Files