| Reconciliation of Adjusted EBITDA to Profit and Loss |
The following table sets forth a reconciliation of Adjusted EBITDA to profit/(loss) for the financial period, the most comparable IFRS financial
measure, for the periods ended 30 June 2026 and 30 June 2025.
| |
|
For the 3 months ended
30 June 2026
USD’000
|
For the 3 months ended
30 June 2025
USD’000
|
For the 6 months ended
30 June 2026
USD’000
|
For the 6 months ended
30 June 2025
USD’000
|
| |
Profit for the financial period
|
277,803
|
75,335
|
457,533
|
138,525
|
| |
Income tax expense
|
1,413
|
2,660
|
2,201
|
4,079
|
| |
Depreciation charge of property, plant and equipment
|
47,201
|
50,977
|
95,186
|
100,502
|
| |
Amortisation charge of intangible assets
|
–
|
107
|
83
|
212
|
| |
Gain on disposal of assets
|
(39,312)
|
–
|
(71,838)
|
–
|
| |
Share of profit of equity-accounted investees, net of tax
|
(10,969)
|
(2,957)
|
(20,937)
|
(5,993)
|
| |
Interest income
|
(3,493)
|
(3,424)
|
(5,834)
|
(6,084)
|
| |
Interest expense
|
10,186
|
12,475
|
22,518
|
26,836
|
| |
Capitalised financing fees written off
|
977
|
6
|
977
|
792
|
| |
Other finance expense/(income)
|
4,100
|
(1,005)
|
6,062
|
398
|
| |
Reversal of impairment of trade receivables
|
(576)
|
–
|
–
|
–
|
| |
Adjusted EBITDA
|
287,330
|
134,174
|
485,951
|
259,267
|
|
| Reconciliation of Revenue to Time Charter Equivalent Income per Operating Day |
The following table reconciles our revenue (Hafnia Vessels and TC Vessels), the most directly comparable IFRS financial measure, to TCE income per
operating day.
| |
(in USD’000 except operating days and TCE income per operating day)
|
For the 3 months
ended 30 June 2026
|
For the 3 months
ended 30 June 2025
|
For the 6 months
ended 30 June 2026
|
For the 6 months
ended 30 June 2025
|
| |
Revenue (Hafnia Vessels and TC Vessels)
|
505,660
|
346,564
|
918,583
|
686,907
|
| |
Revenue (External Vessels in Disponent-Owner Pools)
|
310,119
|
207,591
|
568,418
|
415,158
|
| |
Less: Voyage expenses (Hafnia Vessels and TC Vessels)
|
(132,753)
|
(115,406)
|
(263,181)
|
(236,998)
|
| |
Less: Voyage expenses (External Vessels in Disponent-Owner Pools)
|
(82,933)
|
(82,949)
|
(162,749)
|
(169,172)
|
| |
Less: Pool distributions for External Vessels in Disponent-Owner Pools
|
(227,186)
|
(124,642)
|
(405,669)
|
(245,986)
|
| |
TCE income
|
372,907
|
231,158
|
655,402
|
449,909
|
| |
Operating days
|
8,496
|
9,454
|
17,829
|
18,968
|
| |
TCE income per operating day
|
43,891
|
24,452
|
36,758
|
23,720
|
Revenue, voyage expenses and pool distributions in relation to External Vessels in Disponent-Owner Pools net to zero, and therefore the calculation
of TCE income is unaffected by these items:
| |
(in USD’000 except operating days and TCE income per operating day)
|
For the 3 months ended
30 June 2026
|
For the 3 months
ended 30 June 2025
|
For the 6 months
ended 30 June 2026
|
For the 6 months
ended 30 June 2025
|
| |
Revenue (Hafnia Vessels and TC Vessels)
|
505,660
|
346,564
|
918,583
|
686,907
|
| |
Less: Voyage expenses (Hafnia Vessels and TC Vessels)
|
(132,753)
|
(115,406)
|
(263,181)
|
(236,998)
|
| |
TCE income
|
372,907
|
231,158
|
655,402
|
449,909
|
| |
Operating days
|
|
|
|
|
| |
TCE income per operating day
|
43,891
|
24,452
|
36,758
|
23,720
|
|