SED Energy Holdings PLC (FRA:E36)

Q1 2026 Sed Energy Holdings PLC Earnings Call Transcript

May 29, 2026 / 08:00 AM GMT

Release Date Price: €0.8 (-0.12%)

Transcript

Key Points

Positve

SED Energy Holdings PLC (SBDXF) reported record financial results for Q1 2026, with all rigs and vessels on contract.
The company achieved a revenue of $70 million and an adjusted EBITDA of $39 million, indicating strong operational performance.
The firm revenue backlog stands at $393 million, providing earnings visibility for the remainder of 2026 and into 2027.
The Board has proposed a $25 million distribution for Q1 2026, continuing the company's commitment to shareholder returns.
The company's balance sheet remains strong with a net debt of $30 million and a low debt-to-EBITDA ratio of 0.3.

Negative

Seabird Exploration reported lower-than-expected margins due to scheduling effects and maintenance expenditures.
Technical utilization for Seabird was below target at 91%, impacting financial performance.
Geopolitical volatility in the Middle East has affected offshore drilling activities, leading to disruptions in several Asian economies.
There is expected downtime for the Eagle Explorer vessel, which may affect revenue generation in the short term.
No new contracts were signed for Energy Drilling during the quarter, although existing contracts were adjusted.

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

ENH.OL - Sed Energy Holdings Plc
Q1 2026 Sed Energy Holdings PLC Earnings Call
May 29, 2026 / 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 first quarter of 2026 for Energy Holdings. My name is Kurt Vardlan and I am the CEO of Energy Holdings.

I am joined today by Vico Pedersen and Sveenung Alvestar. Before we begin, I kindly ask you to review the disclaimer slide regarding forward-looking statements.

Energy Holdings is an industrial holding company focused on the offshore energy service industry, uniquely positioned with a robust backlog and conservative capital structure.

Our two subsidiaries, Energy Drilling and Seabird Exploration, are both leaders in their respective segments, operating in highly attractive niches of the oil and gas service industry, with primary exposure

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