(Figures in brackets refer to the corresponding period of 2020)
EBITDA for the fourth quarter was
As informed in earlier press releases, the restructuring process was completed in
At the start of 2022,
On
Recent highlights
Operating status and financial results:
- Fleet utilisation of 59.3 per cent in Q4 (25.0 per cent)
- Fleet utilisation of 54.5 per cent in 2021 (20.4 per cent in 2020), which is the highest fleet utilisation rate since 2015
- EBITDA of
USD 4.4 million in Q4 (USD 0.7 million) - Positive net financial items of
USD 1,042.7 million in Q4 (USD 21.8 million negative), mainly due to a one-off financial gain ofUSD 1,030.5 million arising from the completion of the restructuring process - Cash flow from operations in Q4 was
USD 35.6 million (USD 2.3 million negative), mainly due to higher vessel activity and the improvement in working capital since last quarter - Liquidity reserve of
USD 74 million (USD 160.3 million )
Operations and commercial:
- 5 of 7 vessels in operation in the quarter
- Safe Notos was awarded a contract extention till
mid-July 2022 - Safe
Concordia was awarded a 160-day contract with a four-week option by bp to support their operations offshoreTrinidad . Start-up is in direct continuation of the current contract, estimated24 March 2022 Prosafe was the lowest bidder in a recent auction for a 4-year contract inBrazil . Post-auction process is ongoing
A complete version of the Q4 2021 earnings release and the Q4 2021 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
- Q4 2021 presentation
- Q4 2021 report
© OMX, source