ATHENS, GREECE, November 8, 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
third quarter and nine-month period of 2024, which are attached to this press
release.
Financial performance of the Third Quarter Ended September 30, 2024
o Revenues of $84.9 million in Q3 2024, compared to $89.1 million in Q3 2023.
o Profit of $14.6 million in Q3 2024, compared to $19.4 million in Q3 2023.
o Earnings per share of $0.45 in Q3 2024, compared to $0.60 in Q3 2023.
o Cash (including restricted cash) of $56.0 million as of September 30, 2024,
compared to $82.1 million as of September 30, 2023.
Financial performance of the Nine Months Ended September 30, 2024
o Revenues of $308.0 million in 9M 2024, compared to $321.4 million in 9M 2023.
o Profit of $95.7 million in 9M 2024, compared to $124.0 million in 9M 2023.
o Earnings per share of $2.97 in 9M 2024, compared to $3.85 in 9M 2023.
Alternative performance metrics and market developments
o Time charter equivalent ("TCE", a non-IFRS measure*) revenue of $52.2 million
in Q3 2024, compared to $59.7 million in Q3 2023.
o EBITDA* and Adjusted EBITDA* (non-IFRS measures*) of $38.4 million and $37.9
million, respectively, in Q3 2024.
o Adjusted profit* and Adjusted earnings per share* (non-IFRS measures*) of
$14.5 million or $0.45 per basic and diluted share in Q3 2024.
o Fleetwide daily TCE rate of $43,900 per operating day in Q3 2024