Prosafe Se (PRSEF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome everyone to this Q3 presentation for ProSafe. I'm Reece McNeil and I'm the CEO and thank you for joining the presentation today. I would like to start the presentation today by just giving it a little bit of a highlight of ProSafe again, reminding people who we are. ProSafe, we are the largest operator of offshore accommodation rigs. We currently have five accommodation rigs. We've been in this business for over 30 years. and we're one of the leading operators worldwide, headquartered in Norway, but with offices, as I'm speaking from here today, in Rio, and operations in the UK and Australia. Talk a little bit, I'd like to spend a bit of extra time during this Q3 presentation to talk a little bit about what we have been up to the last couple of quarters, and particularly the last quarter. ProSafe has been through quite a transformation. We've got a new management team in place and we've been really refocusing and repositioning the business. So I'll spend a little bit of extra time on that during this presentation. So as mentioned, we've got a high-end fleet. All modern units that we currently have are contracted to 2027. We have a very leading position in Brazil. We've got backlog extending into 2030. Very strong market fundamentals. I will spend a bit more time on that during this presentation, particularly talking about what's happening on the tender side. We're driving, we've set ourselves an ambitious goal to be the most efficient operator in the accommodation segment. And at the same time, we're exploring strategic and M&A opportunities. And I'll talk a little bit about why that is the case and why we are looking into that. Jumping back just slightly to Q3 and how we did during the Q3 specifically, I'm very proud to say that this was a quarter ...