C3is Inc. (NASDAQ:CISS) Q4 2024 Results Conference Call March 11, 2025 10:00 AM ET
Company Participants
Diamantis Andriotis – Chief Executive Officer
Nina Pyndiah – Chief Financial Officer
Operator
Good day and thank you for standing by. Welcome to the C3is Fourth Quarter Earnings Conference Call and Webcast. All participants will be in listen-only mode during the call with no question-and-answer session at the end. Please note that today’s conference is being recorded.
I will now like to have the conference over to speaker, Dr. Diamantis Andriotis, CEO. Please go ahead.
Diamantis Andriotis
Good morning, everyone, and welcome to our C3is fourth quarter earnings conference call and webcast. This is Dr. Diamantis Andriotis, CEO of the company. Joining on the call today is our CFO, Nina Pyndiah.
Before we commence our presentation, I would like to remind you that we will be discussing forward-looking statements, which reflect current views with respect to future events and financial performance, and are based on current expectations and assumptions, which by nature are inherently uncertain and outside of the company’s control. At this stage, if you could all take a moment to read our disclaimer on Slide 2 of this presentation.
I would also like to point out that all amounts quoted, unless otherwise clarified, are implicitly stated in US dollars. Today, we released our earnings results for the fourth quarter of 2024, so let’s proceed to discuss these results and update you on the company’s strategy and the market in general.
Please turn to Slide 3, where we summarize and highlight the company’s performances, starting with our financial highlights. For the year 2024, we reported revenues of $42.3 million, which is an increase of 47% compared to year 2023. Our Aframax tanker, the Afrapearl II, contributed around 76% to the total revenues. Our net revenues came in at $28 million, an increase of 33% from 2023. Our adjusted EBITDA
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