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NewMed Energy (NWMD) investor relations material
NewMed Energy Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Signed a major deal for the second phase of the Leviathan field and a new 130 BCM gas supply agreement with Egypt, supporting long-term export growth and capacity expansion, with a final investment decision expected in Q4.
Q2 2025 saw a 12-day production halt at Leviathan and Karish due to Operation Rising Lion, impacting revenues and profits.
Net profit for Q2 2025 was $81M, down from $137M in Q2 last year, with revenues also declining.
Three $60M dividends were approved or distributed in 2025, maintaining a strong commitment to shareholder returns.
Ongoing development and exploration in Bulgaria and Aphrodite, with significant campaigns planned.
Financial highlights
Q2 2025 revenues were $191.7M, down from $295.3M in Q2 2024; net profit was $81.2M, down from $137.0M.
EBITDA for Q2 2025 was $126M, down from $204M in Q2 2024.
Net revenues for H1 2025 were $409.6M, down 14.5% year-over-year.
Cash and cash equivalents rose to $389M–$390M as of June 2025.
Net cash from operating activities in H1 2025 was $303.2M, up from $199.4M year-over-year.
Outlook and guidance
Final investment decision for Leviathan Phase 2 targeted for Q4, with expanded capacity to 21–23 BCM.
Egypt BOE agreement underpins long-term export growth through 2040, with infrastructure projects to increase export capacity by 2029.
Bulgaria exploration campaign expected to commence in Q4 2025, targeting significant gas resources.
Additional work on the third pipeline and new wells in Bulgaria are scheduled, with some production halts expected.
Continued focus on dividend distribution, organic growth, and balanced debt management.
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