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Prosafe (PRS) investor relations material
Prosafe Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 100% fleet utilization in September 2025, with all five vessels operating and generating revenue, a milestone not reached in years.
Completed a major transformation with new management and board, focusing on efficiency, strategic repositioning, and shareholder returns.
Recapitalization completed, establishing a sustainable capital structure and significant de-leveraging.
Backlog increased to USD 486 million including options, extending into 2030, led by contracts in Brazil.
Strong operational performance with 99%-100% uptime and robust safety metrics.
Financial highlights
Q3 2025 revenue reached USD 53.6 million, with EBITDA of USD 12.8 million before USD 1.5 million in non-recurring reorganization costs.
Net profit for Q3 2025 was USD 176.2 million, driven by a USD 181.8 million recapitalization gain.
Liquidity position at quarter-end was USD 83.3 million, up from USD 46.8 million at year-end 2024.
Net interest-bearing debt reduced to USD 200 million–213.6 million following recapitalization.
Capex increased to USD 11.3 million in Q3 2025, mainly for Safe Boreas and Safe Zephyrus.
Outlook and guidance
Full-year 2025 EBITDA guidance reiterated at USD 35–40 million.
All high-end units contracted through 2026 and into 2027, with backlog into 2030.
Expecting continued high utilization and backlog expansion, with strong prospects for 2026 and beyond.
Anticipates significant EBITDA uplift potential to USD 90–100 million in coming years as contracts reprice and cost savings materialize.
Exploring strategic opportunities and M&A, with a focus on Brazil.
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