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Floatel International (FLOAT) investor relations material
Floatel International Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 100% fleet utilization in Q3 2025, up from 78% last year, with all four units on charter and strong operational performance across global assignments, excluding Floatel Reliance.
Secured multiple new contracts and extensions, ensuring high vessel utilization into 2026 and beyond.
Revenues for Q3 2025 reached $83.1m, up from $66.5m in Q3 2024.
Recurring EBITDA for Q3 2025 was $44.3m, margin 53%, up from $35.2m last year.
Orderbook as of September 30, 2025, stood at $324m, with backlog including options and LOIs totaling around $550m.
Financial highlights
Q3 2025 revenue was $83.1m (Q3 2024: $66.5m); YTD revenue reached $174.6m (YTD 2024: $125.2m).
Recurring EBITDA for Q3 2025 was $44.3m (Q3 2024: $35.2m); YTD EBITDA was $74.6m (YTD 2024: $40.6m).
Net income after tax for Q3 2025 was $21.2m, with basic and diluted EPS at $0.20.
Cash balance at quarter-end was $56.2m, with $25m undrawn RCF and no restricted cash.
Net interest-bearing debt at $276m as of September 30, 2025; equity ratio 44.9%.
Outlook and guidance
EBITDA is on track to meet the full-year $100m guidance.
Orderbook including options and LOIs is approximately $550m, with 45% scheduled for execution in 2026.
Fleet is nearly fully booked through 2026, with limited availability until early 2027.
Tendering activity remains strong, with several outstanding tenders for assignments starting in 2026 and beyond.
Market outlook is positive, with increased demand for offshore accommodation and reduced supply expected to drive higher utilization and rates.
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