Ziton delivered EBITDA of €69m in 2025, up from €58m in 2024.
The company said the increase was driven by strong utilisation of its vessels, which exceeded guidance.
EBITDA in Q4 2025 rose to €18.0m from €8.8m a year earlier, with Ziton citing favourable weather, improved operational availability and a higher day rate for J/U Wind Enterprise from mid-2025.
Ziton realised a weighted average financial utilisation of 112% for 2025 compared with guided expectations of 95%–100%.
Cash flow from operating activities reached €66.2m, above guidance of €58m–€63m, while net capex totalled €17.6m due to the postponement of a planned leg extension on J/U Wind Energy.
The group said the transaction-adjusted capex level was within its expected range.
For 2026 Ziton expects financial utilisation of 105%–110%, EBITDA of €64m–€69m, and operating cash flows of €61m–€66m.
The company added that both J/U Wind Enterprise and J/U Wind Energy are forecast to remain on time charter with Siemens Gamesa throughout 2026.