Solstad Offshore ASA (LTS:0G2Z)

Q4 2025 Solstad Offshore ASA Earnings Call Transcript

Feb 12, 2026 / 09:00 AM GMT

Release Date Price: kr49.9

Transcript

Key Points

Positve

Solstad Offshore ASA (STU:SZL) reported a strong net result of 2.6 billion NOK, contributing to an improvement in book equity by 6.8 billion NOK.
The company achieved a high utilization rate of 91% for the fourth quarter and 95% year-to-date, indicating efficient operations.
Order intake for the year was above 10 billion NOK, providing solid visibility into 2025 and beyond.
Solstad Offshore ASA (STU:SZL) plans to pay dividends from the second half of 2025, reflecting confidence in future financial performance.
The service segment achieved a revenue of about 1.3 billion NOK in 2024, with a margin of around 25%, exceeding expectations.

Negative

Adjusted EBITDA of 799 million NOK for the quarter was slightly behind the guidance from the third quarter.
The anchor handling segment experienced volatility, with less utilization in the fourth quarter.
Cash reserves decreased from 2.3 billion NOK to 2 billion NOK in the quarter, mainly due to dividend payments and debt servicing.
The company faces high CapEx years in 2024 and 2025, which could impact cash flow.
The spot market in the North Sea for anchor handlers has been slower than expected, affecting utilization rates.

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

SOFF.OL - Solstad Offshore ASA
Q4 2025 Solstad Offshore ASA Earnings Call
Feb 12, 2026 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the 4th quarto and year 2024 presentation for Sosar Osho.

This presentation will be held by CFO Jeter Ramsar and myself, CEO Lars Pera Solst.

It has been a year with a continued market improvement which is reflected in the results we are presenting today.

The outlook is also promising, and we have continued to sign new contracts also into 2025.

I would also like to highlight the settlement we did of the nor one maximus residual claim in 4th quarter that was very value creating for the company, as well as further investments we have done into the service segment. And I will come back to all this during this presentation.

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