Floatel International: Business Update Q2 2026
Oslo, July 29, 2026
The Company is pleased to present its Q2-2026 business update.
HIGHLIGHTS
• Floatel Victory’s announced Letter of Intent to provide MSU services in Brazil summer 2026 was converted into a 3-month firm assignment plus one month option at the Equinor Bacalhau field which commenced June 8, 2026.
• Fleet utilisation stood at 100% during the second quarter, and firm orderbook as of June 30, 2026, was USD 294 million.
• Recurring EBITDA: USD 36.6 million for the quarter.
• Capex: USD 4.1 million for the quarter.
• Operating Cash flow: USD 15.0 million for the quarter
• Cash: USD 49.0 million at the end of the quarter.
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For further information, please contact:
Peter Jacobsson, CEO, +47 934 00 232 Tomas Hjelmstierna, CFO, +47 934 00 381 Tel: +47 46 50 01 33
Email: ir@floatel.no
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
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ABOUT FLOATEL INTERNATIONAL
Floatel International Ltd was founded in 2006 to meet the growing demand for next-generation offshore accommodation vessels. The Company’s vision is to own and operate a modern, safe, and reliable flotel fleet. Since 2021, the Company’s principal place of business has been in Norway.
The Floatel Group operates a fleet of four semisubmersible accommodation units delivered between 2010 and 2016. Floatel Endurance and Floatel Superior are approved for operations in the Norwegian sector. The entire fleet is approved for operations in the UK sector and elsewhere in the world.
The Group employs approximately 400 personnel globally, including offshore staff.
All flotels are equipped with dynamic positioning systems and comply with the latest health, safety, and environmental standards, ensuring quality and comfort for onboard personnel. Accommodation capacity ranges from 440 to 560 beds. Each flotel includes large deck areas, workshops, and crane support, enabling them to handle complex offshore hook-up projects as well as maintenance and modifications of existing offshore installations.
The Company’s senior secured bonds are listed on Oslo Børs under the ticker code FLOAT07.
For more information, visit: https://floatel.no.