Floatel International: Business Update Q3 2026
Oslo, October 28, 2026
The Company is pleased to present its Q3 2026 business update.
HIGHLIGHTS
- The letter of intent, announced on August 27, 2026, for Floatel Triumph to provide MSU services was on October 7 converted into a 4-month firm contract plus 4 months of options with PRIO Forte S/A at the FPSO Forte in the Albacora Leste field offshore Brazil with scheduled commencement mid Q1 2027.
- Floatel Endurance's contract with Aker BP ASA for the Yggdrasil (Hugin A) project has been amended to 13 months firm period with 6 monthly options starting on the commencement date, expected to be first half of Q1 2027, and with standby fee at shore payable from October 15, 2026, until commencement.
- Fleet utilisation stood at 76% during the third quarter, and firm orderbook as of September 30, 2026,
was USD 275 million excluding the above mentioned converted letter of intent and contract amendment.
- Recurring EBITDA: USD 24.8 million for the quarter.
- Capex: USD 9.6 million for the quarter.
- Operating Cash flow: USD 19.4 million for the quarter.
- Cash: USD 65.0 million at the end of the quarter.
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For further information, please contact:
Peter Jacobsson, CEO, +47 934 00 232
Tomas Hjelmstierna, CFO, +47 934 00 381
Tel: +47 46 50 01 33
Email: ir@floatel.no
This information is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
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ABOUT FLOATEL INTERNATIONAL
Floatel International Ltd was founded in 2006 to meet the growing demand for next-generation offshore accommodation vessels. The Company's vision is to own and operate a modern, safe, and reliable flotel fleet. Since 2021, the Company's principal place of business has been in Norway.
The Floatel Group operates a fleet of four semisubmersible accommodation units delivered between 2010 and 2016. Floatel Endurance and Floatel Superior are approved for operations in the Norwegian sector. The entire fleet is approved for operations in the UK sector and elsewhere in the world.
The Group employs approximately 400 personnel globally, including offshore staff.
All flotels are equipped with dynamic positioning systems and comply with the latest health, safety, and environmental standards, ensuring quality and comfort for onboard personnel. Accommodation capacity ranges from 440 to 560 beds. Each flotel includes large deck areas, workshops, and crane support, enabling them to handle complex offshore hook-up projects as well as maintenance and modifications of existing offshore installations.
The Company's senior secured bonds are listed on Oslo Børs under the ticker code FLOAT07.
For more information, visit: https://floatel.no.