# SEA1 Q1 2026 Presentation

- Press release: SEA1: Results for the first quarter 2026 (2026-04-30)
- Original: https://storage.mfn.se/c/aHR0cHM6Ly9hcGkzLm9zbG8ub3Nsb2JvcnMubm8vdjEvbmV3c3JlYWRlci9hdHRhY2htZW50P21lc3NhZ2VJZD02NzE5NDgmYXR0YWNobWVudElkPTMyNDU2NA/sea1-q1-2026-presentation.pdf?news-id=4422ea19-9a11-5956-a195-bdedc4e1297b
- Local copy: discarded after extraction (re-fetchable from Original)

**TL;DR —** Sea1 Offshore reported a strong Q1 2026 with $72 million in revenue and a 52% EBITDA margin, driven by high fleet utilization and a robust contract backlog, while maintaining a solid financial position and authorizing a dividend.

## Takeaways
- Revenue for Q1 2026 increased to $72.0 million from $68.5 million in Q1 2025.
- EBITDA for Q1 2026 was $37.5 million, resulting in a 52% EBITDA margin.
- Net profit rose to $28.3 million in Q1 2026, up from $22.2 million in Q1 2025.
- Fleet utilization for the quarter was 90%, excluding vessels in lay-up, up from 88% in Q1 2025.
- The company has a firm contract backlog of $665 million as of March 31, 2026, with an additional $551 million in options.
- A dividend of NOK 4 per share was authorized and paid in April 2026, supported by a book equity ratio of 49%.

*Generated 2026-09-25 via google/gemini-2.5-flash*