Business Update

2025-10-29

The Company is pleased to present its Q3-2025 business update.


HIGHLIGHTS

  • Floatel Victory has been awarded an assignment to provide Maintenance and Safety Unit (MSU) services for Karoon Energy offshore Brazil. The assignment is for 4 months with option to extend and with scheduled commencement early 2026. Floatel Victory has also been awarded a Letter of Intent to provide MSU services in Brazil for 6-7 months with start scheduled for autumn 2026.

  • Fleet utilization, stood at 100% during the third quarter, and the firm orderbook as of September 30, 2025, excluding letters of intent and contract extensions received after the end of the quarter, was USD 324 million.

  • Recurring EBITDA: USD 44.3 million for the quarter.

  • Capex: USD 0 million for the quarter.

  • Operating Cash flow: USD 28.9 million for the quarter.

    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.

fi-business-update-q3-2025.pdf