SED Energy Holdings PLC (CHIX:ENHo)

Q2 2025 Sed Energy Holdings PLC Earnings Call Transcript

Aug 27, 2025 / 08:00 AM GMT

Release Date Price: kr3.84

Transcript

Key Points

Positve

SED Energy Holdings PLC (STU:E36) reported strong operational performance with Energy Drilling achieving a technical utilization of 99% and Seabi Exploration at 96%.
The company announced a $40 million distribution for the first half of 2025, with a full-year distribution guidance of $70 to $90 million.
The firm backlog increased significantly to $567 million, providing strong earnings visibility and supporting future distribution capacity.
The refinancing of subsidiary debt facilities was completed on improved terms, reducing costs and repayment obligations.
SED Energy Holdings PLC maintains a conservative leverage profile with a net debt to last 12 months EBITDA ratio of just 0.2%, among the lowest in the industry.

Negative

A $9.9 million provision was made related to a tax audit of Energy Drilling in Thailand, with an expected settlement in Q3.
Economic utilization for Energy Drilling was negatively affected by rigs being in the yard, resulting in a lower utilization rate of 76%.
Seabi Exploration's economic utilization dropped to 72% due to the Eagle Explorer being off hire, impacting revenue.
The net loss for the quarter was $6.2 million, impacted by merger-related one-offs and refinancing costs.
The ongoing tax audit in Thailand is expected to result in an additional withholding tax cost of around $6 million annually from the second half of 2025.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ENH.OL - Sed Energy Holdings Plc
Q2 2025 Sed Energy Holdings PLC Earnings Call
Aug 27, 2025 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to this presentation of the financial results for the 2nd quarter and 1st half of 2025 for Energy Holdings.

My name is Kurt Wald Land, and I am the CEO of Energy Holdings. I am joined today by Vigo Peterson, CFO of Energy Drilling.

And Alvita, CFO of Seabi Exploration.

Before we begin, I kindly ask you to review the dis disclaimer slide regarding forward-looking statements.

During the 2nd quarter, we successfully closed the transaction between energy drilling and seabird exploration, establishing energy holdings. Energy Holdings is an industrial holding company uniquely positioned with a robust backlog and a conservative capital structure. Our two subsidiaries, Energy drillling and

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