Paratus Energy Svcs Ltd (PLSVF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

to the Paratus Energy Q1 2025 earnings call. There will be a Q&A section after the presentation, and you can submit your questions by using the button on the bottom right corner of the player. I will now hand over to your host. Good day, everyone. Welcome to this first quarter 2025 results presentation for Paratus Energy Services Limited. My name is Robert Jensen and I am the CEO of Paritus. Joining me on the call today is Baton Hajimemedi, our CFO. Before we begin today's presentation, I would like to remind all participants that some of the statements on this call may involve forward-looking statements. Forward-looking information involves risk and uncertainties by nature that may cause actual results to differ materially from those projected in such statements. I therefore refer you to our latest public filings. The first quarter was a relative quiet quarter for the company compared to our recent history, with results largely as expected given the high contract coverage across our assets. Both of our operating entities continued their strong operational performance, and we recorded a technical utilization of 99% for the quarter. We reported Q1 revenues of 103 million and an adjusted EBITDA of 58 million compared to 109 million and 63 million in the fourth quarter. The decline was mainly attributable to lower average day rates and fewer operating days in Mexico, as well as an unusual low cost in Brazil in the fourth quarter due to one-time items. The net income for the quarter was 3.2 million compared to 2.5 in the fourth quarter of 2024. In line with our policy of targeting stable long-term distributions to our shareholders, the board of directors have resolved to declare a cash distribution to shareholders of 22 cents per share for the first quarter of 2025. This...