C3is, a ship-owning company providing drybulk and tanker seaborne transportation services, announced its unaudited financial and operating results for the third quarter and nine months ended September 30, 2025.
OPERATIONAL AND FINANCIAL HIGHLIGHTS
Third Quarter 2025 Results:
Reconciliations of Adjusted Net /(loss) and Adjusted EBITDA to Net /(loss) are set forth below.
Nine months 2025 Results:
Reconciliations of Adjusted Net /(loss) and Adjusted EBITDA to Net /(loss) are set forth below.
CEO Dr. Diamantis Andriotis commented:
“For the first nine months of 2025, we reported Voyage Revenues of $24.2 million, EBITDA of $10.3 million – an increase of 245%, Net Income of $5.3 million – an increase of 281%, and EPS,basic, of $3.34. In April 2025 we paid off the remaining balance of $14.6 million due on our bulk carrier, the Eco Spitfire. In August 2025, we successfully completed the dry-docking of our Aframax tanker, the Afrapearl II. We are fully deleveraged, thus significantly enhancing our financial flexibility. As the world goes through an uncertain and volatile era, turbulences in the shipping market is unavoidable. The market remains as uncertain as it has ever been, due to this geopolitical environment. But despite all this uncertainty, major economies are still growing, and trade volumes are still rising across sectors. In the midst of these shifting dynamics, C3is Inc.’s performance remained solid, and we have proved that we have built the resilient and organic foundations adaptable to this changing environment. We will therefore continue with our strategy, with our debt free balance sheet, of enhancing our fundamental ability to both further develop existing core businesses, as well as explore potential new growth businesses”.
