Fourth quarter and full-year 2025 interim report and presentation
2026-02-25
Floatel International Ltd (“Floatel”) presents its consolidated financial statements for the fourth quarter and full-year 2025.
HIGHLIGHTS:
All units on charter during the quarter with 85% utilisation.
The orderbook excluding options and letters of intent was approximately USD 358 million as of December 31, 2025.
Contracts update
Floatel Endurance has been awarded a contract with Aker BP to provide services to the Alvheim FPSO on the Norwegian Continental Shelf. The 9-month assignment (plus options) will commence spring 2029.
The letter of intent for Floatel Victory to provide Maintenance and Safety Unit (MSU) services offshore Brazil has been converted into a 6-month firm contract with Brava Energia, scheduled to commence in Q4 2026.
A new letter of intent has been secured for Floatel Victory to provide MSU services offshore Brazil. The MSU assignment is for 3 months and is scheduled between the Karoon and Brava assignments in 2026.
Revenues were USD 71.4 million in the quarter and USD 246.1 million for the full year.
Recurring EBITDA was USD 33.9 million in the quarter and USD 108.5 million for the full year.
Operations update
Floatel Endurance at a Norwegian shipyard after completing Cenovus Energy West White Rose project on January 6, 2026, for planned maintenance and the next charter starts in mid-March 2026.
Floatel Superior completed the Equinor Åsgard assignment October 31, 2025, and is idle in Skipavika in Norway awaiting the next charter starting March 1, 2026.
Floatel Triumph on assignment in Australia for Woodside Scarborough after completing the Inpex Ichthys charter on January 7, 2026.
Floatel Victory is in operation in Brazil providing maintenance and safety unit services to Karoon Energy after ending the assignment at the Peregrino field on January 15, 2026.
Management will host a conference call later today, 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
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.