Latest news with #Prosafe
Yahoo
21-05-2025
- Business
- Yahoo
Prosafe SE: Operational update
21 May - Fleet utilisation for April 2025 was 58 per cent. Safe Zephyrus and Safe Eurus operated at full capacity during April, achieving 100 per cent commercial uptime. Safe Notos had 92 per cent commercial uptime due to required repairs. Safe Caledonia has been re-activated for UK contract with start 01 June. Safe Boreas is in process of being transported to Singapore ahead of contract in Australia. Safe Scandinavia has been sold for recycling and been delivered to the buyer. Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to For further information, please contact: Terje Askvig, CEO Phone: +47 952 03 886 Reese McNeel, CFO Phone: +47 415 08 186 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. Sign in to access your portfolio
Yahoo
21-05-2025
- Business
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Prosafe SE: First-quarter results 2025
(Figures in brackets refer to the corresponding period last year) 21 May 2025 – Prosafe SE reported EBITDA of USD 4.6 million (USD 7.2 million) for the first quarter of 2025. The company had four active vessels during the quarter. Operations and HSSE Good operating performance Safe Zephyrus extended with Petrobras to Q3 2027 Sale of Safe Concordia and Safe Scandinavia Safe Caledonia re-activated for UK contract with start 1 June Safe Boreas in transit to Singapore ahead of Australia contract Safe Notos declared winner of Brazil 4-year tender Q1 financials Revenues of USD 33 million (USD 34 million) and EBITDA of USD 4.6 million (USD 7.2 million) Cash flow from operations of USD 28.4 million (negative USD 1.4 million) including contract prepayments for Safe Boreas and Safe Caledonia Capex of USD 21.2 million (USD 1.7 million) due to reactivation of Safe Boreas and Safe Caledonia Liquidity position of USD 54 million, compared to USD 46.8 million at year-end 2024 Recapitalisation Terms agreed for equitisation of USD 193 million of debt for 90% of the shares in the company Supported by lenders representing the USD 250 million and the USD 93 million loan facilities and approved by Prosafe shareholders at the extraordinary general meeting on 16 May Existing shareholders to retain 5% ownership with penny warrants for further 5% at EUR 0.01 per share Transaction provides a sustainable capital structure and sufficient liquidity to meet capital expenditure and working capital needs for the foreseeable future Estimated post recapitalization net debt of USD 220 million Expected completion in Q3 2025 Market and outlook Ongoing Petrobras tenders confirm strong market fundamentals in Brazil North Sea operators continue to plan for future campaigns with focus on 2027 and beyond Increased backlog, improved market and recapitalisation positions Prosafe for improved earnings Please see the Q1 2025 presentation for further details. Terje Askvig, the CEO of Prosafe, says, 'Operationally, we maintain high utilisation on our active fleet, while making good progress on preparing for new contracts in Australia and the UK. We also continue to build backlog with Safe Notos recently named winner, subject to final contract, of a 4-year tender with Petrobras in Brazil. We are also very pleased with the support shown by our lenders and shareholders through the agreed refinancing which will create a sustainable capital structure going forward and ensure that Prosafe continues to be the world's leading provider of floating accommodation vessels and Units for Maintenance and Safety (UMS).' Presentation Terje Askvig, CEO, and Reese McNeel, CFO, will present the results at Pareto Securities, located at Dronning Mauds gate 3, 0115 Oslo, on 21 May 2025 at 10:00 CEST. This presentation is open to the public and will be live-streamed on Prosafe's website. It will be possible to ask questions during the presentation by using the Q&A tool embedded in the audiocast. These questions will be answered after the presentation. A replay of the audiocast will be made available on Prosafe's website shortly after. The Q1 2025 press release and presentation is attached and can be downloaded from and ( The 2024 annual report was published on 30 April 2025. Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to ( For further information, please contact: Terje Askvig, CEO Phone: +47 952 03 886 Reese McNeel, CFO Phone: +47 415 08 186 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Q1 2025 presentation Prosafe Q1 2025 earnings releaseError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
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Prosafe SE: Correction: 2024 Annual Report
Correction: The below announced Press Release did not include attached ESEF file, there are no changes to the numbers or the wording reported in the Annual report, Remuneration report and Transparency act statement for 2024. The ESEF is now included as an attachement. 30 April 2025 - Prosafe SE today published the Annual report, Transparency Act Statement and Remuneration report for 2024. The Annual report includes the 2024 annual accounts, corporate governance report and sustainability report. On 31 January 2025, Prosafe reported preliminary and unaudited results for the fourth quarter and full year 2024. Today's audited accounts include adjustments to EBITDA and net loss compared to the end-January preliminary figures following the sale of the Safe Concordia completed in March 2025. * EBITDA increased by USD 3.4 from USD 23.8 million to USD 27.2 million due to reversal of demobilisation accruals* Impairment increased from nil to USD 8.4 million due to a realised sale price below the net book value after the reporting date* Net loss for the period increased by USD 4.9 million, from USD 41.8 million to 46.7 million The reports are attached and also available on information/annual-reports/ and on Prosafe also published its annual financial statements in European Single Electronic Format (ESEF), which can be found on the website. Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to ( For further information, please contact:Reese McNeel, CFO Phone: +47 415 08 186 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading 2138001LK2Z2HSER4U15-2024-12-31-0-en Prosafe Remuneration report 2024 Prosafe Transparency Act Statement 2024 Prosafe Annual report 2024Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
13-05-2025
- Business
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Prosafe SE: Safe Notos Declared Winner in Petrobras Tender
Prosafe has been declared the winner of a bidding process for a four-year contract by Petróleo Brasileiro SA ('Petrobras') for the provision of the Safe Notos semi-submersible vessel for safety and maintenance support offshore Brazil. Contract award and timing are subject to a formal process during which Petrobras is under no formal obligation to conclude a contract and other bidders may appeal.A contract, if awarded, has a firm period commitment of four years with the operational commencement in September 2026 closely following on from the expiry of the current Safe Notos contract that commenced in Q3 2022. Total value of the contract is approximately USD 204 million. The Safe Notos is a Dynamically Positioned (DP3) semi-submersible safety and maintenance support (UMS) vessel, capable of operating in harsh environments. The Safe Notos can accommodate up to 500 persons, has extensive recreation facilities, a large crane capacity, large open deck area and a telescopic gangway. Terje Askvig, CEO of Prosafe says: 'The tender process with Petrobras resulted in the Safe Notos being best placed, and after a qualification and negotiation phase we are very pleased to be declared the winner. The Safe Notos is one of the best performing UMS vessels for Petrobras, consistently delivering safe and reliable operations. The contract, if awarded, demonstrates that the market is strong in Brazil, with charter rates significantly increasing from those in the recent past. Prosafe will continue to be the leading provider of UMS vessels in Brazil and is well positioned to increase its market share through continued best-in-market delivery, close and valued partnership with Petrobras, and having units capable of meeting all the requirements set out by both Petrobras and regulators.' For further information, please contact: Terje Askvig, CEOPhone: +47 952 03 886 Reese McNeel, CFOPhone: +47 415 08 186 This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading ActError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
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Prosafe's Safe Notos vessel triumphs in Petrobras' four-year contract bid
Prosafe has emerged as the successful bidder in Petrobras' tender for a four-year contract, offering the Safe Notos semi-submersible vessel for safety and maintenance support offshore Brazil. The contract's formal award is pending a standard process, during which Petrobras is not obligated to finalise the agreement, and appeals from other bidders are possible. The potential contract, valued at approximately $204m, would have a firm commitment for four years, with operations expected to begin in September 2026. This will follow directly after the current Safe Notos contract, which started in the third quarter of 2022. The Safe Notos is a state-of-the-art dynamically positioned (DP3) vessel designed for harsh environments. It can accommodate up to 500 persons and features extensive recreational facilities, significant crane capacity, a spacious open deck and a telescopic gangway. Prosafe CEO Terje Askvig said: 'The tender process with Petrobras resulted in the Safe Notos being best placed, and after a qualification and negotiation phase we are very pleased to be declared the winner. 'The Safe Notos is one of the best-performing UMS [unattended machinery spaces] vessels for Petrobras, consistently delivering safe and reliable operations. The contract, if awarded, demonstrates that the market is strong in Brazil, with charter rates significantly increasing from those in the recent past. 'Prosafe will continue to be the leading provider of UMS vessels in Brazil and is well positioned to increase its market share through continued best-in-market delivery, close and valued partnership with Petrobras, and having units capable of meeting all the requirements set out by both Petrobras and regulators.' In a related development, Baker Hughes won a multi-year contract in March to provide fully integrated completions systems for Petrobras' offshore fields in Brazil. Awarded through an open tender, this contract will leverage Baker Hughes' completions technology to enhance production across various deep-water fields. "Prosafe's Safe Notos vessel triumphs in Petrobras' four-year contract bid" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
