05.05.2025
Solstad Maritime ASA: First-quarter 2025 results
Skudeneshavn, May 5th, 2025
· Solstad Maritime ASA has applied for listing of its shares on Euronext Oslo Børs with expected first day of trading mid-May 2025
· Solstad Maritime changed its presentation currency to USD from 1. January 2025
· Adjusted EBITDA of USD 82 million compared to USD 52 million in the same quarter last year
· Net Result of USD 48 million
· Book equity of USD 802 million compared to USD 545 million same quarter last year
· Adjusted Net Interest Bearing Debt of USD 576 million giving an Adjusted Net Interest Bearing Debt / Adjusted EBITDA of 1,8x
· New order backlog of USD 116 million awarded in the quarter. Several contracts added in Brazil after quarter end
· Quarterly distribution of cash dividend increased to USD 0,075/share, totaling approximately USD 35 million.
· Key dates regarding Q1 2025 dividend:
o Last day incl. right to dividend: 19 May 2025
o Ex-date: 20 May 2025
o Record date: 21 May 2025
o Distribution date: On or about 26 May 2025
· Solstad Maritime is on track to meet previous Adjusted EBITDA guiding for the full year
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89
Solstad Maritime ASA