Prosafe SE: Annual General Meeting and Financial Update

In a significant development for Prosafe SE, the company has announced the scheduling of its Annual General Meeting (AGM) for May 21, 2025. This virtual meeting, set to commence at 08:30 a.m. CEST, will be conducted through Lumi, reflecting the company’s commitment to leveraging technology for shareholder engagement. Interested parties can access all necessary documents, including a guide for online participation, on Prosafe’s investor information page.

The AGM comes on the heels of Prosafe SE’s release of its 2024 annual report, which includes the Transparency Act Statement and Remuneration report. This comprehensive document outlines the company’s financial performance, corporate governance, and sustainability efforts over the past year.

Financially, Prosafe SE has navigated a challenging landscape. The audited accounts for 2024 reveal a notable increase in EBITDA, from USD 23.8 million to USD 27.2 million, primarily due to the reversal of demobilisation accruals. However, the company also faced an impairment increase from nil to USD 8.4 million, attributed to the sale of the Safe Concordia at a price below its net book value post-reporting date. Consequently, the net loss for the period widened by USD 4.9 million, reaching USD 46.7 million.

Despite these financial headwinds, Prosafe SE remains a leading entity in the energy sector, specializing in the ownership and operation of semi-submersible accommodation vessels. These vessels play a crucial role in offshore operations, offering accommodation, engineering, construction, and storage solutions.

The company’s stock performance reflects the broader challenges faced in the energy sector, with its share price experiencing significant volatility. As of April 28, 2025, the close price stood at 7.22 NOK, marking a stark contrast to the 52-week high of 42.75 NOK in June 2024 and a low of 5.5 NOK in April 2025. With a market capitalization of 10,980,000 NOK and a negative price-to-earnings ratio of -0.259419, Prosafe SE’s financial metrics underscore the need for strategic adjustments to navigate the current market dynamics.

As Prosafe SE prepares for its AGM, stakeholders are keenly awaiting insights into the company’s strategic direction, particularly in light of the recent financial adjustments and the evolving energy landscape. The leadership, including CEO Terje Askvig and CFO Reese McNeel, is expected to address these challenges and outline the path forward for the company.

For further information, Prosafe SE has made all relevant documents accessible on its website, ensuring transparency and facilitating informed decision-making among its investors and stakeholders.