Third quarter 2025 interim report and presentation
2025-11-26
Floatel International Ltd (“Floatel”) presents its consolidated financial statements for the third quarter 2025
HIGHLIGHTS:
All units on charter during the entire quarter with 100% utilisation compared with 97% last year, excluding Floatel Reliance
The orderbook excluding options and letters of intent was approximately USD 324 million as of September 30, 2025
Contracts update
Floatel Triumph has been awarded a contract offshore Australia for approximately 35 days, and the expected commencement date is the fourth quarter 2026.
Floatel Victory has been awarded a 4-6-month Maintenance and Safety Unit (MSU) assignment for Karoon Energy offshore Brazil. Scheduled commencement is early 2026.
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) commences spring 2029.
Floatel Victory has secured a Letter of Intent to provide MSU services offshore Brazil in 2026, and the assignment is for 6-7 months commencing around end Q3 2026.
Revenues were USD 83.1 million in the quarter and USD 174.6 million year to date.
Recurring EBITDA was USD 44.3 million in the quarter and USD 74.6 million year to date.
Operations update
Floatel Endurance on hire for Cenovus Energy at the White Rose field in Canada, the assignment ends December 21, 2025
Floatel Superior completed the Equinor Åsgard assignment October 31, 2025, and is idle in Skipavika in Norway awaiting the next charter starting spring 2026
Floatel Triumph on assignment in Australia for Inpex Ichthys, Inpex has exercised remaining options, extending the contract through to January 4, 2026
Floatel Victory is in operation in Brazil providing maintenance and safety unit support for PRIO at the Peregrino field and the assignment ends mid-January 2026
Management will host a conference call later today, at 15.00 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.