(Figures in brackets refer to the corresponding period of 2021)
EBITDA for the first quarter was
Recent highlights
Fleet utilisation and financial results
- Fleet utilisation of 68.1 per cent (25.7 per cent), the highest first quarter utilisation rate since 2015
- EBITDA of
USD 4.8 million for the quarter (negativeUSD 10.1 million ) - Cash flow from operations in Q1 was negative 0.4 million (negative
USD 7.6 million ) as 2 vessels were ramping up for contracts and one vessel was largely on standby in-field between 2 operating periods - Liquidity of
USD 64.7 million (USD 141.7 million ) at the end of the quarter
Operations and commercial
- 5 of 7 vessels in operation in all or parts of the quarter
- Good operating performance and zero incidents in the quarter
- Safe Notos was awarded a four-year,
USD 110 million contract by Petrobras as a result of a bid process conducted in Q1 2022 - Safe Eurus was announced the winner of a four-year,
USD 126 million contract by Petrobras with contract award expected within June - Safe Boreas could come into contention for a 650-day contract with Petrobras
- Significant increase in order backlog
A complete version of the Q1 2022 earnings release and the Q1 2022 presentation is attached and can be downloaded from https://www.prosafe.com and www.newsweb.no
Stavanger,
For further information, please contact:
Phone: +47 51 65 24 30 / +47 907 65 155
Phone: +47 51 64 25 17 / +47 478 07 813
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachments
- Q1 2022 report
- Q1 2022 presentation
© OMX, source