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Solstad Maritime (SOMA) investor relations material
Solstad Maritime Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record operational and financial performance in Q1 2026, with adjusted EBITDA reaching USD 103 million, the highest since the company's establishment in Q1 2024.
Strong order intake of USD 177 million resulted in a book-to-bill ratio of 1.0x, increasing earnings visibility.
Improved fleet utilization, with four vessels starting 4-year Petrobras contracts in February 2026.
Cash dividend of USD 0.086 per share declared for Q1 2026, totaling approximately USD 40 million.
Financial highlights
Adjusted EBITDA reached USD 103 million, up from USD 82 million year-over-year.
Operating income was USD 180 million, compared to USD 146 million in Q1 last year.
Net result increased to USD 70 million from USD 48 million year-over-year.
Cash position at quarter end was USD 96 million, down from USD 195 million last year, mainly due to dividend payments.
Adjusted net interest-bearing debt was USD 539 million, down from USD 576 million year-over-year.
Outlook and guidance
Adjusted EBITDA guidance for 2026 narrowed to USD 340–380 million, with the lower end raised due to strong Q1.
CapEx guidance for 2026 reduced to USD 55–75 million, significantly lower than 2025.
Positive market outlook for anchor handler and CSV segments.
Dividend policy aims to distribute the majority of annual free cash flow as quarterly dividends.
- Q1 2025 saw higher revenue and EBITDA, a raised dividend, and a planned Oslo Børs listing.SOMA
Q1 202525 Feb 2026 - Lower Q3 utilization and EBITDA offset by strong order intake, backlog, and positive 2026 outlook.SOMA
Q3 202525 Feb 2026 - 2025 results exceeded guidance, backlog rose 30%, and 2026 outlook is strong.SOMA
Q4 202525 Feb 2026 - Revenue and EBITDA rose, backlog grew, and a USD 35m dividend was declared despite lower utilization.SOMA
Q2 20251 Nov 2025
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