Norway's Prosafe Q4 revenue rises on full fleet utilization

Prosafe SE

26/02/2026 06:15

Overview

Norway accommodation vessel operator's Q4 revenue rises to USD 70.9 mln

Q4 EBITDA climbs to USD 21.1 mln, reflecting improved fleet utilization

Company reports 100% fleet utilization in Q4 with all units on contract

Outlook

Prosafe expects 2026 full-year EBITDA between USD 45-55 mln

Company sees strong global market led by demand in Brazil and Africa

Prosafe focuses on contract renewals for Safe Eurus and Safe Zephyrus

Result Drivers

FULL FLEET UTILIZATION - Prosafe achieved 100% fleet utilization in Q4 with all units on contract, boosting revenue

SAFE BOREAS ARRIVAL - Safe Boreas arrived in Australia ahead of operations starting in Q1 2026, contributing to future earnings

HIGH ORDER BACKLOG - Prosafe's backlog at near ten-year high reflects new contracts at higher day rates, supporting future growth

Company press release: ID:nGNE5X3hDd

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EBITDA
$21.10 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil related services and equipment peer group is "buy."

Wall Street's median 12-month price target for Prosafe SE is NOK4.00, about 8.7% above its February 25 closing price of NOK3.68

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)