Sea1 Offshore 2Q26 net profit drops 65% to USD 22.7 million; revenue rises 12.35% to USD 80.1 million
Reuters2026/08/14 05:10- Sea1 Offshore posted 2Q 2026 net profit of USD 22.7 million, down 65.01% year over year; EPS fell to USD 0.15.
- Revenue rose to USD 80.1 million; EBITDA climbed to USD 41.5 million, while the EBITDA margin narrowed 3 percentage points to 52%.
- Operating profit dropped to USD 27.8 million, reflecting a 2Q 2025 gain on the sale of Sea1 Spearfish.
- Net interest-bearing debt increased to USD 259.6 million, while cash and cash equivalents declined to USD 39 million.
- Firm contract backlog totaled USD 625 million; fleet utilization eased to 83% from 92% a year earlier.
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