Prosafe Se (PRSEF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome everyone to this Q2 2026 results presentation for ProSafe. My name is Reese McNeel and I'm the CEO and I have here with me our CFO, Halvdan. So I look forward to running through the presentation today. I will touch a bit on where we are, the key highlights and the market, and then I'll hand it over to Halvdan to discuss a little further on our financial results for the quarter and half year. Very shortly, a little reminder of who we are at ProSafe. ProSafe, we are... The leading operator of accommodation units. We have five accommodation units. We have three operating in Brazil, one operating in Australia, and we have one which has a contract for 2027 in the UK. We're headquartered here in Norway, but have a very large operational presence in Brazil and, of course, an operation today in Australia. Briefly on the key highlights for the quarter, I'd like to say first of all a huge thank you to our entire operation and all of our teams out there. We had a very safe quarter and we had really high operational uptime. We completed the SPSs at the beginning of this quarter, but I think coming off the back of the SPSs, the guys did a fantastic job getting the rigs back operational and we had really high uptime results. Close to 100% commercial uptime on all of the vessels, with the exception of that short period at the beginning where we were finishing these SPSs. So a really good effort by everyone operationally to deliver what I view as a very solid Q2 performance. Liquidity remains high. We had a little bit of draw. I'll probably don't come into that, but that was expected in the back of these SPSs. EBITDA for close to 10 million for the quarter. And we have actually tightened our guidance looking ahead. We had the guidance from 45 to 55. We've tightened...