EXMAR report 2025

5.2 Consolidated financial statements 201 SEGMENT REPORTING 2025 (IN THOUSANDS OF USD) SHIPPING INFRASTRUCTURE SUPPORTING SERVICES ELIMINATIONS TOTAL CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2025 Revenue third party 146,597 137,853 58,587 343,037 Revenue intra-segment 1,660 858 9,098 -11,617 0 Total revenue 148,257 138,712 67,685 -11,617 343,037 Gain on disposal 8,019 1,979 22 10,019 Other operating income 674 57 2,834 3,564 Operating income 156,949 140,748 70,540 -11,617 356,620 Operating result before depreciations, amortisations & impairment losses (EBITDA)  105,186 80,870 -7,859 0 178,196 Depreciations and amortisations -48,035 -12,556 -1,551 -62,142 Impairment losses and reversals 0 -36 -505 -541 Operating result (EBIT) 57,151 68,278 -9,916 0 115,513 Interest income (non-intra-segment) 2,069 1,013 7,492 10,574 Interest income intra-segment 978 7,401 19,859 -28,237 0 Interest expenses (non-intra-segment) -23,747 -11,455 -169 -35,371 Interest expenses intra-segment -14,292 -5,560 -8,384 28,237 0 Other finance income 145 195 17,429 17,770 Other finance expenses -1,521 -739 -22,948 -25,208 Share of result of equity accounted investees (net of income tax) 0 -682 255 -428 Income tax expense 285 -3,675 -5,117 -8,507 Segment result after tax 21,068 54,776 -1,499 0 74,344 Attributable to: Non-controlling interest 1 Owners of the Company 74,343