Update to 2024 and 2025 EBITDA Guidance
GMS upgrades 2024 EBITDA guidance to upper end of range and raises 2025 guidance to USD 100-108m.
vs expectations: ahead
- 2024 adjusted EBITDA guidance USD 98-100 million
- 2025 adjusted EBITDA guidance USD 100-108 million (prior USD 92-100 million)
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Gulf Marine Services (GMS), a leading provider of self-propelled, self-elevating support vessels for the offshore energy sector, is pleased to announce an update to its EBITDA guidance for 2024 and for 2025.
The company now anticipates its 2024 adjusted EBITDA guidance to be at the upper end of previous guidance of USD 98-100 million for 2024.
For 2025, GMS expects adjusted EBITDA to reach USD 100-108 million, an increase from the previously forecasted 2025 EBITDA guidance of USD 92-100 million.
Alex Aclimandos, GMS Chief Financial Officer, commented:
"We are thrilled to share a further upward revision in our guidance. The growth in EBITDA, combined with reduced finance costs, will further support GMS's ability to deliver value to clients and investors, as it transitions into a more agile organization."
Mansour Al Alami, GMS Executive Chairman, added:
"Strong demand for our vessels continues to drive solid results. Both forecasted utilization rates and contracted daily charter rates will enable us to achieve the above guidance."
| Enquiries: Gulf Marine Services PLC Mansour Al Alami Executive Chairman Alex Aclimandos Chief Financial Officer | Tel: +44 (0)20 7603 1515 |
| Celicourt Communications Mark Antelme Philip Dennis Ali AlQahtani | Tel: +44 (0) 20 7770 6424 |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.