Al Seer Marine 2025 revenue hits AED1.35 billion

ABU DHABI, 30th January, 2026 (WAM) — Al Seer Marine, a frontrunner in advanced maritime solutions and a subsidiary of IHC, on Friday announced its financial results for the year 2025, delivering a strong performance marked by an 110 percent year-on-year increase in operational profit to AED209 million, alongside a 5.21 percent rise in revenue to AED1.35 billion.

The company also recorded a 14.57 percent increase in gross profit to AED164 million, underscoring the company’s disciplined capital restructuring strategy and enhanced asset utilisation, which drove accelerated market expansion and strengthened operational fundamentals.

Non-current assets comprising the core revenue-generating fleet and infrastructure stood at AED2.36 billion, preserving full operational capacity for sustained growth.

In parallel, current assets were optimised to AED5.67 billion through effective working capital management, which enabled the company to reduce current liabilities by 57 percent to AED732.8 million.

Additionally, the company executed a major debt restructuring programme, extending liability maturities by increasing non-current liabilities to AED3.17 billion from AED2.25 billion, thereby securing favourable long-term financing terms and substantially reducing near-term repayment pressures.

Financial performance during the year was driven by fleet expansion, long-term charter coverage and improved fleet deployment, resulting in higher gross profit and a significant increase in operational profit, which included AED102 million in gains from vessel sales.

The company expanded its fleet to 11 ASM-owned vessels and seven held through joint ventures, following the completion of a three-year newbuild programme that delivered six state-of-the-art tankers.

“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,” said Guy Neivens, CEO of Al Seer Marine.

Gunther Alvarado, Deputy CEO of Al Seer Marine, said, “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.

“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.”