Prenumeration
Beskrivning
Land | Norge |
---|---|
Lista | Euronext Growth Oslo |
Sektor | Tjänster |
Industri | Shipping & Offshore |
May 30, 2025 – Ventura Offshore Holding Ltd. (the “Company”) announces results for the first quarter of 2025. The results highlights will be discussed in an audio conference call on Friday, May 30, 2025 at 14:00 CEST. Dial-in details for the conference call can be found below.
Highlights
- Operational uptime of 93.6% and financial uptime of 90.7% in 1Q25 for the three units in operation, excluding the time experienced by the DS Carolina in January and February during the interdiction issued by ANP (Brazilian oil, natural gas and biofuels regulatory body)
- Entered into an agreement with the previous owners of SSV Catarina to acquire the 17.5% earnout agreement and settle all other amounts outstanding
- Net Income of $22.5 million
- Adjusted EBITDA of $16.7 million
- Free cash position of $27.6 million
Subsequent events
- Announced that DS Zonda commenced operations on April 18, 2025, under a three-year contract, with an option for additional three years, with Petrobras.
Guilherme Coelho, Chief Executive Officer commented:
“We were very pleased to announce during Q1 the acquisition of the 17.5% earnout agreement of the SSV Catarina and the settlement of all amounts outstanding with the previous owners at an attractive purchase price. Our operations this quarter were adversely affected by the interdiction of the DS Carolina for a total of 61 days but we remain in constructive discussions with our client regarding the issue. Securing additional backlog will be pursued determinedly with utilization being the overarching target for Ventura. We believe we are well positioned for the expected upcoming requirements in Brazil to secure backlog for our units at attractive re-contracting economics.”