ADS Maritime Holding has reported a profit before tax of $1 million for the third quarter of 2025, a significant increase from the $0.28 million profit recorded in the same period of 2024.
The result was driven by a net gain on financial instruments of $1.24 million, mainly related to fair value adjustments of its investments.
Revenue for the quarter was $35,000, consistent with its business model of earning dividends and management fees from minority stakes in shipping projects. Total operating expenses were $307,000. The company's cash and cash equivalents increased to $3.87 million at the end of the quarter, up from $3.63 million at the end of 2024.
In operational updates, the charterer of the dive support vessel Southern Star, owned by ParDive Subsea (in which ADS holds a 10 per cent stake), exercised its purchase option in Q3 2025.
This transaction generated fair value gains for ADS and is expected to result in significant cash inflow in the first quarter of 2026 upon vessel delivery.
Subsequent to the reporting period, ADS Maritime Holding announced a strategic investment in ADS Arendal, acquiring a 25 per cent equity stake as part of a $10 million private placement. The funds will be used to acquire a 2013-built Kamsarmax bulk carrier for $20.1 million.
The vessel is employed under an index-linked time charter and the project is supported by $12.25 million in debt financing. ADS will serve as the disponent owner.
