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Kistos (KIST) investor relations material
Kistos H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved transformational year with first oil from Balder Future project and expansion into the MENA region, enhancing 2P reserves and cash flow.
Ongoing delivery of Balder Phase V and VI, and sanctioning of Balder Next, targeting significant reserve additions.
Proforma production guidance for FY26 set at 19,000–21,000 boepd, with reserve additions under review.
Actively pursuing further value-accretive M&A opportunities in MENA and Europe.
Financial highlights
Adjusted EBITDA for 2025 was $97 million, up from $95 million in 2024.
Revenue for 2025 was $212.9 million, slightly down from $216.3 million in 2024.
Statutory loss after tax narrowed to $2 million from $52 million loss in 2024.
Adjusted net debt increased to $76 million from $52 million in 2024.
Strong cash position with $209 million as of 31 May 2026, rising to $268 million on a near-cash basis.
Outlook and guidance
FY26 production guidance at 19,000–21,000 boepd; reserve additions under review post-project announcements.
Oman acquisitions add 25.6 mmboe of 2P reserves; further M&A opportunities being evaluated.
Balder Next project to deliver additional volumes from 2027, targeting 86 mmboe gross reserves.
Plans to drill over 30 exploration wells in Oman by 2029.
- USD 300m secured bond to refinance debt, backed by diversified, cash-generative assets.KIST
Investor presentation22 Apr 2026 - Balder Future's peak output and new gas storage drove progress despite lower H1 2025 earnings.KIST
H1 202523 Feb 2026 - Production reached 8,050 boepd, with Balder Future first oil expected by Q2 2025.KIST
H2 202423 Feb 2026 - Major production growth, Oman entry, and asset investments drive strong 2025 results.KIST
Corporate presentation23 Feb 2026 - Peak production achieved at Balder Future, with growth driven by M&A and asset diversification.KIST
Corporate presentation23 Feb 2026 - Production to peak above 15,000 boepd in 2025 as UK gas storage and Norway capex progress.KIST
H1 202413 Jun 2025
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