Floatel International Ltd: First Quarter Interim Report and Presentation

Oslo – May 30, 2024

Floatel International Ltd (“Floatel”) presents its consolidated financial statements for the first quarter of the financial year 2024.

The fourth quarter fleet utilization was 28%. The total firm contract backlog (excluding options) was approximately USD 437 million as of March 31, 2024.

The Group signed four contracts for execution in 2024, 2025 (two contracts), and 2026 during the quarter whereof one 2025-contract is conditional and should be confirmed no later than November 1, 2024. The Group was also awarded a letter of intent for providing services in 2025 and 2026.

USD 17.0m Revenues and USD -6.7m Recurring EBITDA in the quarter which is in line with expectations.

Floatel Endurance started the assignment at the AkerBP Skarv FPSO on March,2 2024.

Floatel Victory on charter throughout the quarter for Chevron at the Anchor field in the US Gulf of Mexico and the contract ended March 31, 2024.

Management will host a conference call later today, at 15.00 CEST, 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
Tel: +47 46 50 01 33; Mob: +47 934 00 232
Tomas Hjelmstierna, CFO
Tel: +47 46 50 01 33; Mob: +47 934 00 381

Download Q1-2024 Report here
Download Q1-2024 Presentation here