Q2 2025 Maha Capital AB Earnings Call Transcript
Key Points
- Maha Capital AB (STU:7M7) reported a 21% increase in production at Brava, reaching 85,000 barrels in Q2 2025, with further growth to 91,000 barrels in July.
- The company has a solid cash and liquid investment position of $88 million, with zero debt, providing a strong financial foundation.
- Maha Capital AB (STU:7M7) has strategically repositioned itself as an investment platform, expanding beyond traditional oil and gas into fintech through a partnership with Keo World.
- The company successfully refinanced its Potiguar debt facility, reducing the cost of debt from 11% to 8.7%, improving financial efficiency.
- Maha Capital AB (STU:7M7) is actively pursuing high-return investment opportunities, with a focus on projects with IRRs above 20%.
- The company experienced a 30% decline in revenue from the Illinois Basin due to a decrease in oil prices and natural production decline.
- Maha Capital AB (STU:7M7) reported a negative EBITDA of $1.5 million and a net loss of $20.2 million, impacted by an $18 million unrealized loss on Brava shares.
- The company is facing delays in its Venezuelan operations due to pending OFAC license approvals, affecting project timelines.
- The share price of Brava has not reflected the substantial increase in production, partly due to declining oil prices and high interest rates in Brazil.
- Maha Capital AB (STU:7M7) has postponed new drilling programs in the Illinois Basin due to low oil prices, impacting future production growth.
(spoken in foreign language)
Roberto, nice to see you again. How are things in Sao Paulo?
Nice to see you again, Kaarlo. Things are very good here. Thank you very much.
Excellent. Yet another busy quarter. Please, take it away.
Thank you very much. So I will start here. Welcome, everyone, for our earnings presentation. So we will start here that we say that we are pleased to announce that now we are Maha Capital. This transition to Maha Capital marks a very important step in this new repositioning, evolving and transforming us into an investment platform. So we are very happy with this new chapter. I think we have here several things to talk about it, and I will walk through here
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