Euroholdings Ltd. · NASDAQ:EHLD
Euroholdings — Q1 2026 Earnings Presentation
19 slides from Euroholdings's earnings presentation, May 21, 2026
Slide 1: Earnings Presentation Quarter Ended March 31, 2026
Earnings Presentation Quarter Ended March 31, 2026 May 21, 2026 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements in this presentation may be "forward-looking statements" within the meaning of federal securities laws. The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may re
Slide 3: Company Overview
Company Overview ▪ EuroHoldings Ltd was spun off Euroseas Ltd on March 17, 2025 ‒ A fleet of two debt-free vessels, M/V Aegean Express and M/V Joanna, and about $14m of cash ‒ Euroseas distributed the shares of EuroHoldings to its shareholders on a pro-rata basis on March 17, 2025 o Distribution rat
Slide 4: 2026 Q1 Financial Highlights
2026 Q1 Financial Highlights Financial Results in million USD except per share figures Q1 2026 Net Revenues 7.64 Net Income 2.38 $0.84/share(2) (1) Adj. EBITDA 3.14 Fourth Quarterly Dividend Declaration Recent Developments ▪ Declared a quarterly dividend of $0.14 per share for the ▪ We agreed to acq
Slide 5: Fleet Profile
Fleet Profile After the delivery of M/V Hellas Fighter, fleet is comprised of 2 containerships with a carrying capacity of 3,171 TEU and 2 product tankers with capacity of 99,994 dwt Fleet Profile Containerships Name Type Size (DWT) Size (TEU) Year Built Joanna Feeder 22,301 1,732 1999 Aegean Expres
Slide 6: Continue Operating Containerships
Continue Operating Containerships ▪ Continue operating existing containerships ‒ The containership markets, especially for feeder vessels like ours, have remained strong ‒ Our vessels, despite their age, may be rechartered beyond their current contracts… o …contributing further earnings and value to
Slide 7: Last 10 Year 6-12 Month TC Rates ($/day)
Last 10 Year 6-12 Month TC Rates ($/day) 1,700 TEU Geared 70,000 60,000 50,000 40,000 $/ day May 15, 2026 $29,250/day 30,000 18,208 20,000 11,063 10,000 0 Jan 18 Jan 19 Jan 20 Jan 21 Jan 22 Jan 23 Jan 24 Jan 25 Jan 26 Jan 16 Jan 17 May 16 May 17 May 18 May 19 May 20 May 21 May 22 May 23 May 24 May 2
Slide 8: Product Tankers Market Overview
Product Tankers Market Overview 8
Slide 9: MR Tanker TC Rates
MR Tanker TC Rates 1 Year TC Rate(1) ($/day) 3 Year TC Rate(1) ($/day) 40,000 30,000 35,000 27,500 30,000 29,500 25,000 24,750 25,313 25,000 25,250 22,500 $/day 21,608 $/day 20,000 21,250 20,000 15,000 17,500 10,000 5,000 15,000 0 12,500 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 20
Slide 10: MR Tanker Newbuilding & Secondhand Values
MR Tanker Newbuilding & Secondhand Values Newbuilding Price Evolution(1) ($m) 5 Yr Old SH Price Evolution(2) ($m) 10 Yr Old SH Price Evolution(3) ($m) 55.0 55.0 45.0 51.00 41.0 50.0 40.0 50.50 50.0 47.5 45.0 35.0 32.0 46.4 41.5 45.0 40.0 30.0 30.6 40.1 35.0 25.0 40.0 30.0 20.0 35.0 25.0 15.0 30.0 20
Slide 11: MR Tanker Fleet Age Profile & Orderbook
MR Tanker Fleet Age Profile & Orderbook Age Profile (mDWT) MR Tanker Deliveries & Demolitions (mDWT) 14% 18% 20% 30% 18% 30.0 6.0 5.0 25.0 4.0 9.7 20.0 3.0 5.0 4.5 4.4 4.3 mDWT 4.1 2.0 15.0 3.3 1.4 2.8 3.3 3.3 1.0 2.3 2.5 2.0 1.0 1.4 3.8 10.0 0.0 (0.2) 17.0 (0.1) (0.5) (0.7) (1.1) (0.7) (0.4) (0.5)
Slide 12: Trade Demand Outlook
Trade Demand Outlook Oil Products Seaborne Trade 24.0 3,900 23.0 3,700 22.0 3,500 mb/d btm 21.0 3,300 3,100 20.0 2,900 19.0 2,700 18.0 2,500 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 mb/d Billion Tonne-miles Global Demand Development (mb/d) Global Refi
Slide 13: Product Market Trends & Outlook Summary
Product Market Trends & Outlook Summary ▪ Product tanker earnings surged in Q1 2026, driven by extreme market disruption rather than structural demand strength. MR earnings climbed on average to ~$60,000/day, more than 3x long-term averages, supported by constrained MEG exports, tight vessel availab
Slide 14: Current Fleet Financial Results & Prospects
Current Fleet Financial Results & Prospects 14
Slide 15: Financial Highlights: Q1 2025 and 2026
Financial Highlights: Q1 2025 and 2026 Q1 Q4 Q1 (in million USD except per share amounts) 2025 2025 2026 Net Revenues 2.87 4.48 7.64 Net Income 11.08 1.32 2.38 Earnings per Share(1) 3.99 0.47 0.84 Interest & Finance Costs, Net(2) (0.00) 0.07 0.27 Depreciation 0.01 0.25 0.50 (Gain) / Loss on Sale of
Slide 16: Fleet Data: Q1 2025 and 2026
Fleet Data: Q1 2025 and 2026 Q1 na 2025 2026 Fleet (#) Number of Vessels 2.1 3.0 Utilization Rate(1) Utilization 100.0% 100.0% (%) TCE ($/day/vessel) Time Charter Equivalent(2) $15,798 $28,388 Vessel Opeating Expenses (excl. DD Expense) 7,135 8,066 G&A Expenses 1,376 1,109 Total Operating Expenses $
Slide 17: Cash Flow Break Even for the Next 12 Months
Cash Flow Break Even for the Next 12 months Cash Flow Break Even Estimate - Containerships ($/day) - - - 1,196 8,227 8,227 8,227 8,227 7,031 OPEX G&A Expenses Operating B/E Drydocking EBITDA B/E Interest Expenses Operating & Loan Repayments Total Expenses Financing B/E (excl. Balloon) ➔ Rechartering
Slide 18: Balance Sheet Highlights
Balance Sheet Highlights Capital Structure March 31, 2026 ($m) Notes 50.0 Assets ▪ Cash & Other assets: $11.2m 45.0 ▪ Vessels book value: $34.7m ▪ Total assets (at book value): $45.9m Cash & Other 40.0 Assets Liabilities 35.0 ▪ Bank Debt (incl. Deferred Charges): $19.6m, i.e. ~42.8% of total NBV boo
Slide 19: EuroHoldings Contacts
EuroHoldings Contacts EuroHoldings Ltd. c/o Eurobulk Ltd 4, Messogiou & Evropis Street 151 24 Maroussi, Greece www.euroholdings.gr [email protected] Tel. +30-211-1804005 Fax.+30-211-1804097 Tasos Aslidis Nicolas Bornozis / Markella Kara Chief Strategy Officer Investor Relations EuroHoldings Ltd.