Energy Holdings Q2 2026: Continued strong performance and shareholder returns
Limassol, Cyprus - August 26, 2026: SED Energy Holdings Plc ("Energy Holdings") continued to deliver strong results in the second quarter of 2026.
Revenue and EBITDA increased substantially year-over-year, driven by a fully active fleet, strong operational execution and continued capital discipline.
Cash generation remained strong and net interest-bearing debt was reduced further, supporting continued financial flexibility.
The Board has proposed a USD 25 million shareholder distribution for the second quarter, bringing total distributions for the first half of 2026 to USD 50 million.
"Energy Holdings delivered another solid quarter, with continued high utilization and consistent performance across both Energy Drilling and SeaBird Exploration. SeaBird also secured new work for its vessels, providing enhanced visibility for the coming periods. The results demonstrate the quality of our operations and the cash-generating capacity of the platform," said Kurt M.
Waldeland, CEO.
Energy Drilling remains in close dialogue with its customers and is actively engaged in relevant tender processes. The company is confident about securing continued employment.
"Looking ahead, our core priorities remain unchanged and we enter the second half of 2026 from a position of strength. With solid contract coverage, limited capital expenditure requirements and a conservative balance sheet, we have a robust foundation for sustained shareholder distributions and the flexibility to pursue value-accretive opportunities," Waldeland continued.
Q2 2026 highlights:
* Revenue increased 50% in Q2 2026 and 40% in H1 2026 year-over-year.
* Adjusted EBITDA increased 72% in Q2 2026 and 44% in H1 2026 year-over-year, driven by strong operational performance across both Energy Drilling and SeaBird Exploration.
* Net cash flow from operating activities amounted to USD 80.6 million in H1 2026.
* Net interest-bearing debt was reduced to USD 17.6 million in the quarter, corresponding to 0.1x LTM adjusted EBITDA.
* Energy Drilling achieved high technical utilization of 99% and economic utilization of 98%.
* SeaBird Exploration secured new contracts for both vessels.
* Firm revenue backlog of USD 342 million provides significant earnings visibility.
* The Board has proposed a USD 25 million shareholder distribution for Q2 2026, bringing total distributions to USD 50 million year-to-date.
* Full-year distribution guidance of USD 90-110 million reiterated.
Second quarter 2026 presentation
The second quarter 2026 materials are enclosed and available on the company's website: www.energyholdings.cy/investors/financial-reports/.
Energy Holdings will present its financial results for the second quarter and first half of 2026 in a live audio webcast today at 10:00 CEST, hosted by Kurt M. Waldeland, Chief Executive Officer, Sveinung Alvestad, Chief Financial Officer, and Viggo Pedersen, Chief Investment Officer.
The presentation will be followed by a Q&A session and questions may be submitted in writing at any time during the event. A recording of the webcast will be made available on the company's website after the live event has been concluded.
Webcast link:
https://events.streamhub.no/viewer-registration/z12jpgeA/register
For more information, please contact:
Investor Relations: ir@energyholdings.cy
Press: contact@energyholdings.cy
About Energy Holdings SED Energy Holdings Plc (ticker code "ENH") is a strong industrial partner with a diversified portfolio of resilient, cash-generative assets supported by a robust revenue backlog and a conservative capital structure. Energy Holdings' primary focus is on distributing all excess liquidity to shareholders, while also pursuing disciplined, value-accretive growth. For more information, please visit www.energyholdings.cy (http://www.energyholdings.cy/).
This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.