Floatel International Ltd: Business update
2025-02-04
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