Business Update Q3 2026
2026-10-28
The Company is pleased to present its Q3 2026 business update.
HIGHLIGHTS
The letter of intent, announced on August 27, 2026, for Floatel Triumph to provide MSU services was on October 7 converted into a 4-month firm contract plus 4 months of options with PRIO Forte S/A at the FPSO Forte in the Albacora Leste field offshore Brazil with scheduled commencement mid Q1 2027.
Floatel Endurance’s contract with Aker BP ASA for the Yggdrasil (Hugin A) project has been amended to 13 months firm period with 6 monthly options starting on the commencement date, expected to be first half of Q1 2027, and with standby fee at shore payable from October 15, 2026, until commencement.
Fleet utilisation stood at 76% during the third quarter, and firm orderbook as of September 30, 2026, was USD 275 million excluding the above mentioned converted letter of intent and contract amendment.
Recurring EBITDA: USD 24.8 million for the quarter.
Capex: USD 9.6 million for the quarter.
Operating Cash flow: USD 19.4 million for the quarter.
Cash: USD 65.0 million at the end of the quarter.
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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.