Petrolia (PSE) H1 2025 earnings summary

Executive summary

• Operating revenue increased 8% year-over-year to USD 27.9 million in H1 2025, driven by higher activity in select regions.

• EBITDA declined to USD 6.9 million from USD 7.9 million due to lower margins and reduced high-margin revenues.

• Operating profit fell to USD 3.4 million from USD 4.4 million, while net profit after tax was USD 3.3 million, slightly down from USD 3.5 million.

• Total comprehensive income rose to USD 5.6 million, mainly due to favorable currency effects.

Financial highlights

• Operating expenses increased to USD 21.0 million from USD 17.9 million year-over-year.

• Depreciation remained stable at USD 3.6 million.

• Net financial income improved to USD 2.0 million from a loss of USD 0.8 million.

• Free cash at period end was USD 15.4 million, up from USD 12.5 million a year earlier.

• Book value of equity per share increased to USD 0.82 from USD 0.75.

Outlook and guidance

• Oil price volatility is expected to persist, with activity in the oil industry likely to remain subdued.

• The Energy Service Division anticipates reduced activity in Iraq due to ongoing pipeline closures.

• Decarbonisation initiatives continue, including a planned CO2 hub in Bremen, Germany.