Paratus Energy Services Ltd. · OSL:PLSV
Paratus Energy Services — Paratus Energy Svcs — Q1 2026 Earnings Presentation
9 slides from Paratus Energy Services's earnings presentation, May 29, 2026
Slide 1: Q1 2026 Interim Results Presentation
Q1 2026 Interim Results Presentation
Slide 2: Highlights
Highlights Company highlights Key figures (USDm) Revenue(1) Announced sale of Fontis’ drilling operations and jack-up fleet, positioning 74 75 Paratus as the world’s only pure-play PLSV company of scale 56 Post Q1, successfully placed new $250 million five-year bonds, primarily to refinance exis
Slide 3: Seagems Joint Venture
Seagems Joint Venture Operational highlights(1) Resilient financials and strong margins(1) USDm Revenue EBITDA EBITDA margin % Distribution 73% $150m $96m 67% 61% 147 150 Revenue EBITDA (67%)(2) 112 103 96 76 83 65 35 Q1 2025 Q4 2025 Q1 2026 $83m ~$1.2bn Fleet overview (contractual dayrates in $ tho
Slide 4: Financial summary
Financial summary Combined financials continuing operations Key highlights Revenue increased slightly quarter-over-quarter, while year-over-year Quarterly figures Change vs. growth was driven by higher dayrates from new Petrobras contracts (USDm) Q1 2026 Q4 2025 Q1 2025 Q4 2025 Q1 2025 EBITDA wa
Slide 5: Cash flow
Cash flow Financial summary Key drivers USDm Cash balance (from continuing and discontinued operations) at Q1 was Quarterly Cash flows $141 million (Q4 2025: $178 million) 41 Cash flow used in continuing operations was $4 million (Q4 2025: $2 (4) million), primarily reflecting transaction-relate
Slide 6: Capital structure
Capital structure Comments Illustrative capitalization Q1 2026 Pro forma USDm 782 Fontis sale expected to reduce net debt from $625 156 625 28 million to a Q1 pro forma level of $254 million 163 Pro forma leverage materially improves from ~2.4x to 237 254 ~1.4x EBITDA at Q1 Bondholder consent
Slide 7: Full-year 2026 guidance
Full-year 2026 guidance Revenue(1) EBITDA(2) Capex(1) $285-300m $175-190m $15-25m Notes: (1) Number reflects 50% Seagems figures; (2) Number reflects 50% Seagems figures plus Paratus 6
Slide 8: Pure play PLSV business, attractive dividend yield
Pure play PLSV business Attractive dividend yield Substantial backlog visibility Efficient and flexible capital structure 7
Slide 9: 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.