Paratus Energy Svcs Ltd (PLSVF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Paratus Energy Q2 2025 earnings call. There will be a question and answer session after the presentation, and you can submit your questions by using the button on the bottom of the player. I will now hand over the call to your host. Good day, everyone. Welcome to the second quarter 2025 results presentation for Peritus Energy Services Limited. My name is Robert Jensen and I am the CEO of Peritus. Joining me on the call today is Baton Hajime Mehdi, 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 risks 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 second quarter of 2025 was a solid one for Paritus, supported by high technical utilization across the fleet, solid cost control, and steady joint venture cash flows. Our operating entities recorded a technical utilization of 98% for the quarter. Revenues were 107 million compared with 103 million in the first quarter, as new contracts at sea gems at higher day rates more than offset the lower contribution from Fontys due to Titania being idle. Adjusted EBITDA was 57 million versus 58 million in Q1, reflecting one-time cost at Fontys related to the demobilization of Titania. Net income for the quarter was 5.6 million, up from 3.2 million in Q1. In line with our policy of targeting stable cash distribution to shareholders, the board of directors has declared a dividend of 22 cents per share for Q2. This is consistent with every quarterly distribution since our IPO last year. During the second quarter, we completed approximately 5 m...