THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) WHICH IS PART OF
("Braemar", "the Company" and together with its subsidiaries the "Group")
HY26 TRADING UPDATE
Continued delivery against challenging H1 market backdrop
FY26 board expectations unchanged, with H2 market conditions improving
Trading Update
· Diversified business model partially offsetting weaker H1 chartering rates
· H2 chartering rates improving and sale and purchase activity increasing
· Good progress against strategic targets set in
· Order book remains strong and board's FY26 expectations unchanged
The Group continued to benefit from its balanced and diversified business model in HY26, with a good performance in both the Investment Advisory and Risk Advisory divisions partially offsetting the financial impact of lower chartering rates, geopolitical volatility and a much weaker US dollar.
HY26 revenue is expected to be in the region of
Following the completion of a
Strategic Progress
Since setting out our future ambitions through the Group's Strategic Framework on
Against the FY26 operational objectives, a number of senior hires have been made, a new office in
Outlook
The Group's forward order book at the end of
Consequently, the board's expectations for the full year remain unchanged, with the Group's performance expected to be second half weighted in line with most previous years.
The board remains confident in the longer-term outlook for the Group and delivering on its FY30 objectives.
Commenting,
"We have made good progress with our strategic priorities and continue to benefit from the resilience of our diversified business model. Our solid H1 performance was achieved despite a challenging trading environment, ongoing weaker chartering rates and competition for talent across the industry.
Looking ahead, the market fundamentals continue to be robust, and the Group remains in a strong position to take advantage of opportunities. Our forward order book is strong and improving, and charter rates, particularly in Tankers, have increased since the start of H2, underpinning our confidence in the full year outlook. We remain focused on delivering our long-term strategic plan."
Notice of Results
The Group expects to announce its HY26 results by
1. Underlying results measures above are before specific items
2. The total forward order book covers revenue that will be earned in future periods up until 2039
3. Company compiled consensus prior to the release of this announcement: revenue
Enquiries:
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Tel: +44 (0)20 3142 4100 |
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Rebecca-Joy Wekwete, Company Secretary |
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Tel: +44 (0)20 4529 0549 |
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Canaccord Genuity |
Tel: +44 (0)20 7523 8000 |
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About
Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide an integrated service supported by a collaborative culture.
Braemar joined the Official List of the
For more information, including our investor presentation, visit www.braemar.com and follow Braemar on LinkedIn.
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