Eimskip Announces Q3/2025 Results: Profit Decline Attributed to Freight Rates and Exceptional Costs

Eimskip has just announced its Q3 2025 business results, revealing a performance that fell short of expectations. Although the company recorded stable volumes and implemented strict cost control in certain business segments, the overall results were weighed down by falling freight rates and exceptional costs.

Revenue and Operating Expenses

Eimskip’s total revenue for the quarter reached EUR 204.7 million, marking a 6.5% decrease compared to the previous year’s corresponding quarter. In contrast, operating expenses saw a modest reduction to EUR 184.3 million, equivalent to a 1.0% year-on-year decrease.

Specifically, the liner services segment recorded a modest volume growth of 1.5%; however, the average freight rate significantly decreased. The international forwarding segment was heavily affected by the sharp global drop in freight rates. Conversely, logistics and agency services delivered solid results, supported by tightened cost management efforts.

Decline in Operating Profit (EBITDA)

Eimskip’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) only reached EUR 20.4 million, representing a significant 38% decrease from the EUR 32.9 million achieved in Q3 2024. Consequently, the EBITDA margin fell from 15% in Q3/2024 to 10%.

The company noted that the year-on-year comparison was affected by two exceptional items: a positive gain of EUR 2.2 million in Q3/2024 and a loss of EUR 2.9 million in Q3/2025, both related to the sale of the vessel Lagarfoss.

Net profit after tax reached EUR 5.6 million, a notable decrease from the EUR 14.3 million recorded in the same quarter last year.

Liquidity Position Remains Solid

Despite the less-than-favorable profit, Eimskip affirmed that its liquidity position remains robust, even though cash flow from operations has decreased compared to previous quarters.

Mr. Vilhelm Már Þorsteinsson, CEO of Eimskip, stated:

“The third quarter of 2025 was challenging for Eimskip, with operations falling short of expectations. Revenue decreased by 6.5% during the quarter, driven by lower unit prices in liner services, a global decline in freight rates, reduced trucking volumes in Iceland and the Faroe Islands, and the loss of port revenue following the closure of PCC Bakki. At the same time, we managed to reduce costs by 1% despite an 8.1% increase in salary expenses.”

Eimskip indicated that it remains focused on cost efficiency and operational improvements across its core segments, as the shipping market is projected to continue its volatility heading into the final quarter of the year.

See more:

• Update on the Incident Response Aboard Wan Hai 503
• China Develops Thorium Molten Salt Reactor-Powered Container Ship
• Descartes: US Container Imports "Stalled" in October
• WorldACD: Global Air Cargo Volumes on Track for 4% Growth in 2025
• International Transport and Logistics Market Update Week 45/2025 | Phaata
• CMA CGM's Largest Container Ship Returns to Suez Canal After Two Years
• DHL's Q3 2025 Report: Air Freight Revenue Declines, But Volumes Hold Steady
• Maersk's Q3 2025 Profit Beats Expectations, But Warns of Q4 Loss on Oversupply Pressure
• Maersk Bolsters Green Fleet: Orders 8 More 18,000 TEU LNG-Powered Vessels in China
• COSCO schedules: Vietnam - North America in Nov 2025
• COSCO updates Vietnam-North Europe sailing schedules in Nov 2025
• SITC updates Vietnam-Intra Asia sailing schedules in Nov 2025

Source: Phaata.com (According to Container-News)

► Find Better Freight Rates & Logistics Service Providers!