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Prosafe (PRS) investor relations material
Prosafe Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 100% fleet utilization in Q4 2025, with all five rigs operating and strong safety performance.
Maintained leading market position in Brazil, with backlog extending into 2030 and ~20% market share.
All high-end units contracted through 2026 and into 2027, with strong demand in Brazil and Africa.
Exploring strategic opportunities, including M&A, to capitalize on tightening offshore accommodation markets.
Secured LOI for Safe Caledonia for 2027/28, with upfront payment structure and contract value up to USD 45 million.
Financial highlights
Q4 2025 revenues reached USD 70.9 million, with EBITDA of USD 21.1 million, nearly tripling YoY.
Net profit for Q4 2025 was USD 5.3 million, reversing a prior year loss.
Full-year 2025 net profit was USD 142.5 million, including a USD 181.8 million recapitalization gain.
CapEx for Q4 was USD 9 million, mainly for Boreas reactivation and Safe Zephyrus SPS.
Cash position at year-end was USD 65.3 million, with NIBD at USD 230.8 million.
Outlook and guidance
2025 EBITDA reached USD 40 million, at the high end of guidance.
2026 EBITDA guidance set at USD 45–55 million, driven by improved earnings from Safe Notos and Boreas.
Positive working capital impact anticipated in 2026 as SPS costs and ramp-up effects normalize.
Focus on securing new contracts for Eurus and Zephyrus, and exploring strategic/M&A opportunities.
Safe Caledonia awarded LOI for 2027/28, with contract value up to USD 45 million.
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