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Solstad Maritime (SOMA) investor relations material
Solstad Maritime Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary14 Jul, 2025
Executive summary
Listed on Euronext Oslo Børs on 16 May 2025, achieving a market capitalization of approximately USD 1.1 billion at quarter end, marking a key milestone with positive investor reception.
First quarterly presentation as a listed company, with significant planned maintenance impacting results, but overall performance deemed satisfactory.
Strong contract activity, especially in Brazil, with three new four-year contracts signed, contributing to a robust order backlog and improved earnings visibility.
Continued focus on shareholder returns with a declared dividend of USD 0.075 per share for Q2 2025, totaling USD 35 million.
Expansion of services, including new ROVs from Omega Subsea to be installed in 2026/2027.
Financial highlights
Q2 2025 revenue was USD 152 million, up from USD 140 million in Q2 2024; YTD/1H 2025 revenue at USD 279–297 million versus USD 266 million prior year.
Adjusted EBITDA for Q2 2025 was USD 78 million, nearly flat year-over-year; 1H 2025 Adjusted EBITDA rose to USD 159 million from USD 129 million.
Net result for Q2 2025 was USD 44 million, up from USD 28 million in Q2 2024; 1H 2025 net result at USD 92 million versus USD 89 million prior year.
Cash and cash equivalents at period end were USD 98 million.
Firm order backlog at end of 1H 2025 was USD 929 million, up from USD 848 million in 1H 2024.
Outlook and guidance
Market fundamentals remain positive, with strong backlog and stable E&P spending, though the steep activity increase has leveled out.
Majority of planned maintenance to be completed by July, with higher utilization and stronger performance expected in 2H 2025 and beyond.
2025 Adjusted EBITDA guidance narrowed to USD 360–380 million, with upper range reduced due to lower utilization in 1H 2025 and Brazil contract mobilizations.
Additional vessel capacity entering the market in 2026/2027; further activity growth needed to absorb new supply.
Offshore wind sector faces some uncertainty, but activity levels are maintained.
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Next Solstad Maritime earnings date
Q3 202530 Oct, 2025
Next Solstad Maritime earnings date
Q3 202530 Oct, 2025
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