(Figures in brackets refer to the corresponding period of 2021)
EBITDA for the second quarter was
Recent highlights
Fleet utilisation and financial results
- The highest quarterly fleet utilisation of 81.0 per cent (65.8 per cent) since Q3 2015
- EBITDA of
USD 22.8 million for the quarter (USD 18.1 million ) - Cash flow from operations in Q2 was
USD 0.4 million (negativeUSD 21.9 million ). In the quarter, an increase in working capital, driven by increased accounts receivable due to improved vessel activity, offset the improved operating result - Liquidity of
USD 57.6 million (USD 119.9 million ) at quarter end - Book equity improved by 36% from last quarter
Operations and commercial
- 5 out of 7 vessels were in full operation throughout the quarter, while Safe Boreas was working part of the quarter
- Good operating performance and zero incidents in the quarter
- Two four-year contracts were awarded by Petrobras to Safe Notos and Safe Eurus, and a short duration contract was secured for Safe Boreas in the
UK , adding approximatelyUSD 240 million in backlog - After the quarter end,
BP Trinidad and Tobago LLC exercised all four weeks of options for the Safe Concordia
A complete version of the Q2 2022 earnings release and the Q2 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 / +47 405 54 490
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachments
- Q2 2022 presentation
- Q2 2022 report
© OMX, source