Paratus Energy Svcs Ltd (PLSVF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Paratus Energy Q1 2026 earnings call. There will be a question and answer session after the presentation, and you can submit your questions by the form at the bottom of the player. I will now hand you over to your host. Thank you. Good day everyone and welcome to this first quarter 2026 results presentation of Paratus Energy Service Limited. My name is Baton Hajmemete and I'm the CFO and interim CEO of Paratus. Before we begin today's presentation, I would like to remind all participants on this call that some of the statements in this call may involve forward-looking statements. Forward-looking information involves risks and uncertainties by nature that may cause actual results to differ materially from those projected in such statements. I therefore refer you to the latest public filings of the company. The year 2026 has so far been very busy and also eventful for the company. In March, we announced a transformative transaction for Paratus, the $400 million sale of our Jacko business, Fontys Energy. This transaction marks an important milestone in the continued evolution of Paratus, simplifying the company and sharpening our strategic focus. Let me just recap from the last time we spoke. Following completion of the transaction, Paratus becomes a focused PLSV holding company with exposure towards long-term contracts with strong cash flow visibility in a niche market. while at the same time we significantly improve our risk profile by exiting the mexican jackup segment where we had exposure to payment irregularities and backlog breaks second this is the leveraging story where our depth reduced from 625 million to around 250 million dollars and net leverage coming down from 2.2 times epita to around 1.4 pro forma basis q126 And lastly, with current stro...