Prosafe Se (PRSEF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and welcome everyone to this Q1 presentation for ProSafe. I'm Reece McNeil. I'm the CEO. I have also here with me today Alvin, our CFO, and welcome again to the presentation. We're going to run through the presentation. If there's questions, please send them to us by email, and we'll pick that up in the Q&A session at the end of this presentation. I would like to start off. The presentation for this quarter, talking a little bit about what we've got done this quarter. I've been very impressed by how the team has delivered this quarter. First, touching briefly on operations, it was a quarter where we had all of the rigs operating. Caledonia, she extended through, got all of her options and successfully demobilized. And we also got Bereas, you know, fully on hire during the quarter. And we saw two units do the SPS. I'll talk a little bit about all this later, but I think from an operations perspective, it was a very successful quarter for us. I think also financially, I hope to talk a bit more on that, but I think you see a very strong quarter, driven largely by the utilization, of course, of having all the rates working. And I think we'll touch a little bit on liquidity, but I think also very positive liquidity development, although inevitably some due to working cap. If we look ahead, maybe what's exciting me most is really the market outlook. I'll spend most of my time today talking a bit about that market, some really positive developments there, and I think we are reiterating in this call also our guidance for the year at $45 to $55 million of EBITDA. To talk a little bit about what was maybe one of the most strategically important activities of this you know, that started in this Q1 and we finished up in April was really the SPSs. We got the SPS done for n...