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Floatel International (FLOAT) investor relations material
Floatel International Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved highest fleet utilization since 2017 at 85% in Q4 2025 and 82% for the full year, with all four units on charter and the fleet largely committed for 2026.
Revenues rose to $246.1 million for 2025, up from $156.9 million in 2024, with recurring EBITDA more than doubling to $109 million, at the upper end of guidance.
Multiple new contracts, letters of intent, and tenders secured, extending backlog and ensuring high fleet activity into 2029.
Orderbook at year-end reached $358 million firm and $520 million including options, with 47% for 2026 and 31% for 2027.
Sale of Floatel Reliance completed in May 2025 for $9.8 million.
Financial highlights
Q4 2025 revenue was $71.4 million, up from $31.6 million in Q4 2024; full-year revenue reached $246 million.
Q4 recurring EBITDA was $34 million (47% margin), with full-year EBITDA at $109 million (44% margin).
Net profit for the year was $40 million, aided by a $20 million impairment reversal.
Cash and cash equivalents at year-end were $66 million, with an undrawn $25 million revolving credit facility.
Net interest-bearing debt reduced to $253 million from $286 million at prior year-end.
Outlook and guidance
2026 outlook is strong with the fleet almost fully booked and visible increases in customer activity.
2026 EBITDA is expected at the lower end of the $90–110 million range.
Focus remains on securing employment for available slots in 2027 and beyond, with robust tendering activity and announcements hoped for before June.
Orderbook at year-end 2025 was $358 million firm, $520 million including options.
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