Oslo February 4, 2025
The Company is pleased to present its current trading and Q4-2024 Business update.
HIGHLIGHTS
• The Company has placed a USD 15m tap issue on its existing USD 350m senior secured bonds. The proceeds will be used to fund capital expenditures on the current fleet.
• The revolving credit facility has been temporarily increased from USD 25m to USD 33.5m and provides further flexibility during a short-term period of working capital build in connection with contract commencements.
• Fleet utilization stood at 37% during the fourth quarter and firm orderbook as of December 31, 2024, was USD 338m.
• Recurring EBITDA: USD 50m for the full year; USD 9m in the quarter.
The Q4-2024 interim report will be released February 26, 2025, and management will host a conference call the same day, at 14.30 CET, to present the results. Interested persons can register using the details provided on the website https://floatel.no/investors
For further information, please contact:
Peter Jacobsson, CEO, +47 934 00 232
Tomas Hjelmstierna, CFO, +47 934 00 381
Tel: +47 46 50 01 33
Email: ir@floatel.no