Al Seer Marine (ADX: ASM), a frontrunner in advanced maritime solutions and a subsidiary of IHC, today announces its financial results for the year 2025, delivering a strong performance marked by an 110% year-on-year increase in operational profit to AED 209 million, alongside a 5.21% rise in revenue to AED 1.35 billion.
The company also recorded a 14.57% increase in gross profit to AED 164 million. The results underscore the company's disciplined capital restructuring strategy and enhanced asset utilization, which drove accelerated market expansion and strengthened operational fundamentals.
Non-current assets comprising the core revenue-generating fleet and infrastructure stood at AED 2.36 billion, preserving full operational capacity for sustained growth. In parallel, current assets were optimised to AED 5.67 billion through effective working capital management, which enabled the company to successfully reduce current liabilities by 57% to AED 732.8 million. Additionally, the company executed a major debt restructuring programme, extending liability maturities by increasing non-current liabilities to AED 3.17 billion from AED 2.25 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 AED 102 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. These modern vessels are secured under long-term charter contracts, providing stable and predictable cash flows.
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. Our goal has always been to build a global maritime powerhouse with diversified and future-proof business verticals from a next-generation commercial fleet and advanced naval and commercial shipbuilding capabilities to superyacht management services and cutting-edge technologies in unmanned surface vessels and large-scale 3D printing. The double-digit increase in operational profit reflects how our long-term vision is now delivering tangible value to our investors through discipline, foresight, and innovation.”
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."
The resilient performance of the company has earned the confidence of leading financial institutions, most recently demonstrated by an AED 760 million eight-year facility obtained from Abu Dhabi Commercial Bank (ADCB) in July 2025. Driven by this strong commercial and operational momentum, Al Seer Marine continues to solidify its market position. The company's diversified business verticals provide robust foundations for growth across the maritime value chain, leveraging technological innovation and operational excellence to drive sustained profitability and long-term value for shareholders.
