Solstad Offshore ASA has reported its fourth-quarter and full-year 2024 results. The company reported an adjusted EBITDA of NOK 436 million for Q4 2024 and NOK 1,379 million for the full year. Solstad Offshore achieved a net result of NOK 1,283 million for 2024. The company’s book equity increased by approximately NOK 1.3 billion during the year, reaching approximately NOK 3.1 billion by year-end 2024.
The settlement of the Maximus Residual Claim reduced interest-bearing debt by approximately NOK 1 billion.
The company invested in Omega Subsea, further strengthening its position in the subsea services segment. Solstad Offshore intends to initiate quarterly dividend payments in the second half of 2025. The company is guiding an adjusted EBITDA for 2025 of between NOK 1.3 billion and NOK 1.6 billion.
Solstad Maritime, in which Solstad Offshore holds a 27.3% ownership stake, reported an adjusted EBITDA of NOK 799 million in Q4 2024 and NOK 3,234 million for the full year. Solstad Maritime’s net result for 2024 was NOK 2,637 million. Solstad Maritime intends to distribute a dividend for Q4 2024 of NOK 0.50 per share and is guiding an adjusted EBITDA for 2025 of between NOK 3.9 billion and NOK 4.2 billion.
Solstad Offshore ASA is an owner and operator of offshore support vessels. The company provides services to the offshore energy industry, including the oil and gas and renewable energy sectors. Solstad Offshore operates a diverse fleet of vessels, including platform supply vessels, anchor handling tug supply vessels, and subsea construction vessels.