IN BRIEF: Gulf Marine Services set for returns as 9-month earnings up
Gulf Marine Services PLC - London and Abu Dhabi-based operator of self-propelled self-elevating support vessels for offshore energy industry - Reports revenue of USD138.3 million for the nine months to September 30, up 10% from USD126.1 million a year earlier, while adjusted earnings before interest, tax, depreciation and amortisation rises 7.1% to USD81.5 million from USD776.1 million. Net debt is reduced by 22% to USD172.2 million, cutting leverage to 1.6 times from 2.3 times. Gulf Marine says it remains on track to meet its 2025 objectives and is "highly confident" of achieving increased adjusted Ebitda guidance of USD101 million to USD109 million. The company continues to target adjusted Ebitda of up to USD115 million for 2026. In 2024, adjusted Ebitda was USD100.4 million. Read More