Al Seer Marine, one of the leaders in the field of advanced maritime solutions and a subsidiary of IHC, announced its financial results for the year 2025 on Friday, which showed a good performance with annual growth of 110 percent in operational profit to AED209 million and 5.21 percent in revenue to AED1.35 billion.
The company also registered a 14.57 percent rise in gross profit to AED164 million, reiterating the fact that the company had a disciplined capital restructuring policy and improved asset utilization, which fueled market growth at an accelerated rate and augmented the operational pillars.
The non-current assets of the main revenue-generating fleet and infrastructure were AED2.36 billion, which retained the complete operating potential to continue expanding.
Simultaneously, the current assets were optimized to AED5.67 billion by the management of working capital, which allowed the company to decrease the current liabilities by 57 percent to AED732.8 million.
The company also carried out a significant debt restructuring programme, which will extend the maturity of liabilities by increasing the non-current liabilities by AED3.17 billion to AED2.25 billion, thus getting favorable long-term financing terms and eliminating the short-term repayment pressures to a large extent.
The financial performance during the year was driven by fleet expansion, long-term charter coverage, and improved fleet deployment, leading in higher gross profit and a significant increase in operational profit, which included AED102 million in gains from vessel sales.
The company increased its fleet to 11 ASM-owned vessels and seven held by joint ventures, following the completion of a three-year newbuild programme, which offered six state-of-the-art tankers.
Guy Neivens, CEO of Al Seer Marine, said, “The strong results in 2025 mark the point at which Al Seer Marine has begun to realise the rewards of planned execution over the years.”
Gunther Alvarado, Deputy CEO of Al Seer Marine, added, “The cornerstone of our 2025 performance was the successful completion of our first phase of rapid expansion, reaching a milestone of 18 vessels in just three years. This aggressive scaling, culminating in the delivery of our advanced dual-fuel VLGCs, has fundamentally strengthened our operational backbone.
He further stated, “By swiftly diversifying our portfolio across key sectors, from gas carriers to product tankers, we have built a resilient, revenue-generating engine that is now delivering the substantial operational profit growth we are reporting today.”
