Solstad Offshore ASA ( (SLOFF) ) has released its Q4 earnings. Here is a breakdown of the information Solstad Offshore ASA presented to its investors.
Solstad Offshore ASA is a maritime company primarily engaged in providing offshore service vessels to the oil and gas industry, with a notable presence in the subsea services segment.
In its latest earnings report, Solstad Offshore ASA has demonstrated strong financial performance for the fourth quarter and full year of 2024, reporting robust earnings and strategic investments that strengthen its market position.
The company achieved an adjusted EBITDA of NOK 436 million for Q4 2024 and NOK 1,379 million for the entire year. The net result for the year stood at NOK 1,283 million, while the book equity increased by approximately NOK 1.3 billion, reaching NOK 3.1 billion by year-end. A significant reduction in interest-bearing debt was realized through the settlement of the Maximus Residual Claim. Additionally, Solstad Offshore has invested in Omega Subsea, enhancing its capabilities in the subsea services sector.
Looking forward, Solstad Offshore plans to initiate quarterly dividends in the second half of 2025, and it projects an adjusted EBITDA for 2025 in the range of NOK 1.3-1.6 billion. With these strategic moves and financial projections, Solstad Offshore aims to maintain a strong trajectory in the maritime services industry.
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