Floatel International
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Floatel International (FLOAT) investor relations material

Floatel International has been private

Floatel International Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary25 Feb, 2026

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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Frequently asked questions

Floatel International Ltd. is a Bermuda-based company specializing in the operation of accommodation and construction support vessels known as floatels. Established in 2006, the company provides semi-submersible floatels designed for extreme offshore conditions, primarily serving the oil and gas industry. The company’s main office is located in Oslo, Norway, with operational support provided by its Swedish subsidiary, Floatel International AB. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange.

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