Mar. 16 at 11:59 PM
$GLBS folks can read for themselves
Globus published its annual report on Form 20-F for the fiscal year ended Dec. 31, 2025, reporting operating income of USD 4.5 million. Voyage revenues rose 28% to USD 44.21 million, driven by a higher average number of vessels in operation and higher short-term daily time charter rates. Vessel operating expenses increased 27% to USD 18.2 million, primarily reflecting the larger fleet, while depreciation rose 61.29% to USD 10 million. Interest expense and finance costs climbed 29% to USD 8.1 million on higher average borrowings, and interest income fell 46.43% to USD 1.5 million due to lower interest rates and reduced cash in short-term deposits. Cash and cash equivalents were USD 26.2 million at year-end, compared with net cash generated from operating activities of USD 11.4 million.
