Paratus Energy Services Ltd. · OSL:PLSV
Paratus Energy Services — Q4 2024 Earnings Presentation
12 slides from Paratus Energy Services's earnings presentation, Feb 28, 2025
Slide 1: Paratus Energy 2024 Interim Results Presentation
Paratus Energy 2024 Interim Results Presentation
Slide 2: 2024 highlights and post year-end developments
2024 highlights and post year-end developments Company highlights Annual key figures (USDm) • Finalized transition from Seadrill; established Paratus as a fully independent Revenue operational organization 418 430 452 • Successful IPO and subsequent uplisting to Oslo Børs 212 225 207 • Successful pl
Slide 3: Operational update Q4 2024 – Seagems
Seagems JV Operational update Q4 2024 – Seagems(1) Operational highlights Resilient financials and strong margins USDm EBITDA margin % Revenue EBITDA 600 $109m $80m 500 77% 450 414 400 62% 61% Revenue EBITDA 300 55% 264 240 200 94 109 80 100 49 0 Q3 2024 Q4 2024 FY 2023 FY 2024 77% $1.9bn Fleet stat
Slide 4: Operational update Q4 2024 – Fontis
Operational update Q4 2024 – Fontis Operational highlights Resilient financials and strong margins USDm EBITDA margin % Revenue EBITDA $54m $28m 61% 245 59% 205 52% 51% Revenue EBITDA 144 108 63 54 39 28 Q3 2024 Q4 2024 FY 2023 FY 2024 51% $234m Fleet status overview (dayrates in USD/day) EBITDA Mar
Slide 5: Financial summary Q4 2024
Financial summary Q4 2024 Paratus Group Profit/(Loss) summary(1) Net income key drivers(1) (USDm) (Management reporting) Quarter-to-date Quarter YTD 31 (USDm) Q3 2024 Q4 2024 ∆ 2023 2024 ∆ 2 3 Contract revenues 110 109 (1) 430 452 21 (12) Tax on revenues (2) (3) (1) (11) (12) (2) Amortization favora
Slide 6: Cash flow analysis
Cash flow analysis Commentary Cash flow analysis (USDm) Quarterly Cash flows 38 • At Paratus consolidated level, exited the quarter with a cash balance of 150 (12) $86 million (year-end 2023: $115 million) (16) (4) (29) • Operating cash mainly driven by build-up of Mexico receivables 86 (37) • Capex
Slide 7: Capital structure and key balance sheet figures
Capital structure and key balance sheet figures Debt maturity profile Annual key figures per segment (USDm) Cash 294 • Partially refinanced 2026 notes in July 2024, extending the majority of maturities to 2029 12 113 134 • Net Leverage Ratio 2.5x as of Q4 2024, and 1.9x adjusted for the 19 99 282 19
Slide 8: Full-year 2025 guidance
Full-year 2025 guidance Contract Revenue(1) EBITDA(1)(2) Capex(1)(3) $420-450m $220-240m $45-65m Notes: (1) According to management reporting (2) Consists of 50% of Seagems figures plus Fontis EBITDA less Paratus G&A (3) Includes Seagems vessel upgrades, ordinary maintenance capex and other one-time
Slide 9: Attractive dividend yield, substantial backlog, efficient capital structure
Attractive dividend Substantial backlog Efficient and flexible yield visibility capital structure 9
Slide 10: Appendix
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Slide 11: Reconciliation Financial reporting and Management reporting
Reconciliation Financial reporting and Management reporting(1) Quarter-to-date Q3 Year-to-date Financial Management Financial Management Reporting Seagems Reporting Reporting Seagems Reporting Consolidated Eliminations (50% share) Prop.consolidated Consolidated Eliminations (50% share) Prop.consolid
Slide 12: Disclaimer
Disclaimer This document and any information provided in this presentation (the "Presentation") has been prepared by Paratus Energy Services Ltd (the "Company") solely for the purposes of providing existing investors and other stakeholders with an update about certain limited aspects of the Company.
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