Fundies.
English

Ultrabulk A/S

ESEF
Report (type unavailable) · filed 2026-03-04

Annual consolidated revenue for 2025: about USD 1.595B, using the latest reported figures. The previous period, 2024, was about USD 1.642B.

Inspect reported changes Compare with another company Historical disclosures Segments
Watchlist

Latest fiscal year

Revenue

1.59 billion USD

2025 · USD

Exact inputs and evidence
  • Revenue: 1594699000 USD Source

Operating margin

-2.06%

2025 · %

Exact inputs and evidence
  • Operating Income: -32903000 USD Source
  • Revenue: 1594699000 USD Source

Operating cash flow

99.9 million USD

2025 · USD

Exact inputs and evidence
  • Operating Cash Flow: 99942000 USD Source

Free cash flow

40.6 million USD

2025 · USD

Exact inputs and evidence
  • Operating Cash Flow: 99942000 USD Source
  • Capital Expenditure: 59328000 USD Source
Cash and cash equivalents
104 million USD Source
Exact value

104040000 USD

Long-term debt including current maturities
Not available
Shares outstanding
Not available

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-03-04.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 4 of 11 periods available· newest 2025-12-31
  • Operating income: 4 of 11 periods available· newest 2025-12-31
  • net income: No compatible figures in this window
  • Operating cash flow: 4 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 4 of 11 periods available· newest 2025-12-31
  • Total assets: 4 of 11 periods available· newest 2025-12-31
  • Total liabilities: 4 of 11 periods available· newest 2025-12-31
  • Current assets: 4 of 11 periods available· newest 2025-12-31
  • Current liabilities: 4 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 4 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    -2.9%

    Prior period

    USD 1.64 billion

    –

    Current period

    USD 1.59 billion

    –

    Exact inputs and evidence

    1594699000 − 1641815000 = -47116000 USD

    1641815000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1594699000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    -38.6%

    Prior period

    USD 162.77 million

    –

    Current period

    USD 99.94 million

    –

    Exact inputs and evidence

    99942000 − 162771000 = -62829000 USD

    162771000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    99942000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Capital expenditure

    -38.1%

    Prior period

    USD 95.83 million

    –

    Current period

    USD 59.33 million

    –

    Exact inputs and evidence

    59328000 − 95829000 = -36501000 USD

    95829000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    59328000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Net income.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 1.59 billion 100% of revenue
  • Operating costs Derived USD 1.63 billion 102% of revenue
  • Operating income −USD 32.9 million −2.1% of revenue
  • Tax, interest and other Derived Unavailable An input is unavailable.
  • Net income Unavailable An input is unavailable.

Cash

  • Operating cash flow USD 99.94 million 6.3% of revenue
  • Capital expenditure USD 59.33 million 3.7% of revenue
  • Free cash flow Derived USD 40.61 million 2.5% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2022 Not shown: operating income or net income is not reported.
  • 2023 Not shown: operating income or net income is not reported.
  • 2024 Not shown: operating income or net income is not reported.
  • 2025 Not shown: operating income or net income is not reported.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2022 2022-01-01 – 2022-12-312143813000 1964603000 Derived 179210000 UnavailableUnavailable226060000 Derived
Source
2023 2023-01-01 – 2023-12-311481359000 1427597000 Derived 53762000 UnavailableUnavailable7009000 Derived
Source
2024 2024-01-01 – 2024-12-311641815000 1620421000 Derived 21394000 UnavailableUnavailable66942000 Derived
Source
2025 2025-01-01 – 2025-12-311594699000 1627602000 Derived -32903000 UnavailableUnavailable40614000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 1.6B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.3B1.7B1.2B578.8M0.02022202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2022Revenue2143813000
2023Revenue1481359000
2024Revenue1641815000
2025Revenue1594699000

Revenue growth

Change in revenue from the same financial period one year earlier.

-2.9% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.14%2%-10%-22%-34%2022202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2022Year over yearNo prior comparable period
2023Year over year-30.9%
2024Year over year10.8%
2025Year over year-2.9%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -2.1% 2025
Free cash flow margin 2.5% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.11.6%7.9%4.2%0.6%-3.1%2022202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2022Operating margin8.4%
2023Operating margin3.6%
2024Operating margin1.3%
2025Operating margin-2.1%
2022-12-31Net marginNot reported
2023-12-31Net marginNot reported
2024-12-31Net marginNot reported
2025-12-31Net marginNot reported
2022Free cash flow margin10.5%
2023Free cash flow margin0.5%
2024Free cash flow margin4.1%
2025Free cash flow margin2.5%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 99.9M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.313.3M235.0M156.7M78.3M0.02022202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2022Operating cash flow290093000
2023Operating cash flow113665000
2024Operating cash flow162771000
2025Operating cash flow99942000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 40.6M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.244.1M183.1M122.1M61.0M0.02022202320242025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2022Free cash flow226060000
2023Free cash flow7009000
2024Free cash flow66942000
2025Free cash flow40614000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

75% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.81%61%40%20%0%2022202320242025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2022Liabilities / assets54.2%
2023Liabilities / assets60.5%
2024Liabilities / assets66.1%
2025Liabilities / assets75%

Current assets to current liabilities

Current assets divided by current liabilities.

1.2× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.69×1.27×0.85×0.42×0.00×2022202320242025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2022Current assets / current liabilities1.57×
2023Current assets / current liabilities1.21×
2024Current assets / current liabilities1.14×
2025Current assets / current liabilities1.2×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2022 2022-01-01 – 2022-12-31
Unavailable Not reported for this period.
USD 290.09 million
Exact value

Exact value: 290093000 USD

2022-01-01 – 2022-12-31: 290093000 USD Inspect Operating Cash Flow Open source
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USD 64.03 million
Exact value

Exact value: 64033000 USD

2022-01-01 – 2022-12-31: 64033000 USD Inspect Capital Expenditure Open source
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USD 226.06 million
Calculation and evidence

290093000 − 64033000 USD

Exact free cash flow: 226060000 USD

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2023 2023-01-01 – 2023-12-31
Unavailable Not reported for this period.
USD 113.67 million
Exact value

Exact value: 113665000 USD

2023-01-01 – 2023-12-31: 113665000 USD Inspect Operating Cash Flow Open source
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USD 106.66 million
Exact value

Exact value: 106656000 USD

2023-01-01 – 2023-12-31: 106656000 USD Inspect Capital Expenditure Open source
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USD 7.01 million
Calculation and evidence

113665000 − 106656000 USD

Exact free cash flow: 7009000 USD

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2024 2024-01-01 – 2024-12-31
Unavailable Not reported for this period.
USD 162.77 million
Exact value

Exact value: 162771000 USD

2024-01-01 – 2024-12-31: 162771000 USD Inspect Operating Cash Flow Open source
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USD 95.83 million
Exact value

Exact value: 95829000 USD

2024-01-01 – 2024-12-31: 95829000 USD Inspect Capital Expenditure Open source
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USD 66.94 million
Calculation and evidence

162771000 − 95829000 USD

Exact free cash flow: 66942000 USD

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2025 2025-01-01 – 2025-12-31
Unavailable Not reported for this period.
USD 99.94 million
Exact value

Exact value: 99942000 USD

2025-01-01 – 2025-12-31: 99942000 USD Inspect Operating Cash Flow Open source
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USD 59.33 million
Exact value

Exact value: 59328000 USD

2025-01-01 – 2025-12-31: 59328000 USD Inspect Capital Expenditure Open source
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USD 40.61 million
Calculation and evidence

99942000 − 59328000 USD

Exact free cash flow: 40614000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

3 filings · 208 latest values · 208 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 549300HB18MY7I4M4L84, esef:549300HB18MY7I4M4L84