Prosafe SE: Invitation to Q4 2024 Results and Webcast on February 3rd

Prosafe SE, a leading owner and operator of semi-submersible accommodation vessels, has announced an invitation to its fourth quarter 2024 results and webcast, scheduled for February 3rd, 2025. The company will release its Q4 2024 report and presentation on , with the results being published at approximately 07:00 a.m. CET.

Terje Askvig, CEO, and Reese McNeel, CFO, will present the results at Pareto Securities, located at Dronning Mauds gate 3, 0115 Oslo, at 10:00 a.m. CET. The presentation will be open to the public and can also be followed live via web streaming on . Questions can be asked during the presentation using the Q&A tool embedded in the webcast, and these questions will be answered after the presentation. A replay of the audiocast will be made available on Prosafe's website shortly after.

Prosafe SE has been experiencing a positive trend in its financial performance over the past year. In Q3 2024, the company reported an EBITDA of USD 5.0 million, compared to USD 8.4 million in the same period last year. Revenues also increased to USD 34.6 million from USD 32.8 million in Q3 2023. The company's cash flow from operations improved significantly, with a positive USD 9.1 million in Q3 2024 compared to negative USD 14.0 million in the same period last year.



Prosafe SE's market position in Brazil and the North Sea has significantly influenced its future prospects. The company has a 30% market share in Brazil, which is a crucial market for its semi-submersible accommodation vessels. The increasing demand for accommodation vessels in Brazil, leading to rising day rates and durations, has contributed to Prosafe SE's strong position in the region. Additionally, the company has secured work for Safe Boreas and Safe Caledonia in Brazil, with significant pre-funding, indicating a tightening accommodation market.

In the North Sea, operators are planning future campaigns, with continued bidding for 2025 and initial discussions regarding 2026. Prosafe SE's strong commercial performance, including the signing of conditional LOIs for Safe Boreas and Safe Caledonia, demonstrates its ability to secure work in the North Sea. The company is also discussing a contract extension for Safe Zephyrus with Petrobras, which could add potential USD 105 million to its backlog.

By leveraging its market position in both Brazil and the North Sea, Prosafe SE is well-positioned to achieve higher utilization and earnings growth in the coming years. This will enable the company to strengthen its liquidity and achieve a sustainable capital structure prior to its 2025 maturity refinancing.

Investors are encouraged to attend the Q4 2024 results and webcast on February 3rd, 2025, to gain insights into Prosafe SE's financial performance and future prospects. The company's strong market position, positive financial trends, and strategic focus on Brazil and the North Sea make it an attractive investment opportunity in the semi-submersible accommodation vessel sector.