Reported Earnings • Jun 09
First quarter 2026 earnings released: EPS: US$0.18 (vs US$0.14 in 1Q 2025) First quarter 2026 results: EPS: US$0.18 (up from US$0.14 in 1Q 2025). Revenue: US$72.0m (up 5.0% from 1Q 2025). Net income: US$28.3m (up 27% from 1Q 2025). Profit margin: 39% (up from 32% in 1Q 2025). Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Rune Lundetrae was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 30
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Board Member Rune Lundetrae was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 13
Sea1 Offshore Inc. Announces Resignation of Ørjan Svanevik as Director Mr. Ørjan Svanevik, Director of Sea1 Offshore Inc., has decided to step down from the Board of Directors of the company following his appointment to a position outside the company. The Board of Directors will initiate the process of identifying a new board member who will assume office at the earliest opportunity. Announcement • May 26
Sea1 Offshore Inc. (OB:SEA1) announces an Equity Buyback for 400,000 shares, for NOK 15 million. Sea1 Offshore Inc. (OB:SEA1) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares for NOK 15 million. The company intends to use the repurchased shares for the employee share purchase plan. Under the program, the minimum price that can be paid per share is NOK 10 and the maximum price is NOK 100. The program will expire on June 30, 2025. Announcement • Jan 23
Sea1 Offshore Inc. Announces Preliminary and Unaudited Earnings Guidance for Year 2024 Sea1 Offshore Inc. announced preliminary and unaudited earnings guidance for year 2024. For the quarter, the company's operating revenues of USD 68 million.
For the year, the company's operating revenues of USD 341 million. Announcement • Jan 11
Sea1 Offshore Inc., Annual General Meeting, Apr 25, 2025 Sea1 Offshore Inc., Annual General Meeting, Apr 25, 2025. New Risk • Nov 03
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 18% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 42% per year for the foreseeable future. Minor Risks High level of debt (59% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. New Risk • Nov 01
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 59% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 42% per year for the foreseeable future. Minor Risks High level of debt (59% net debt to equity). Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: US$0.55 (vs US$0.13 in 2Q 2023) Second quarter 2024 results: EPS: US$0.55 (up from US$0.13 in 2Q 2023). Revenue: US$107.6m (up 21% from 2Q 2023). Net income: US$131.9m (up 337% from 2Q 2023). Revenue is expected to decline by 9.9% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 4.6%. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 100% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €2.86, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Energy Services industry in Europe. Total returns to shareholders of 731% over the past three years. New Risk • Aug 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 9.1% per year for the foreseeable future. Minor Risks High level of debt (70% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €2.21, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Energy Services industry in Europe. Total returns to shareholders of 539% over the past three years. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: US$0.049 (vs US$0.13 in 1Q 2023) First quarter 2024 results: EPS: US$0.049 (down from US$0.13 in 1Q 2023). Revenue: US$83.2m (up 8.8% from 1Q 2023). Net income: US$11.8m (down 62% from 1Q 2023). Profit margin: 14% (down from 41% in 1Q 2023). Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has increased by 138% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 21
Full year 2023 earnings released: EPS: US$0.73 (vs US$0.13 in FY 2022) Full year 2023 results: EPS: US$0.73 (up from US$0.13 in FY 2022). Revenue: US$336.0m (up 23% from FY 2022). Net income: US$174.5m (up 465% from FY 2022). Profit margin: 52% (up from 11% in FY 2022). Revenue is expected to decline by 2.9% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.3%. Over the last 3 years on average, earnings per share has increased by 143% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: US$0.73 (vs US$0.13 in FY 2022) Full year 2023 results: EPS: US$0.73 (up from US$0.13 in FY 2022). Revenue: US$336.0m (up 23% from FY 2022). Net income: US$174.5m (up 465% from FY 2022). Profit margin: 52% (up from 11% in FY 2022). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 143% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: US$0.056 (vs US$0.042 in 3Q 2022) Third quarter 2023 results: EPS: US$0.056 (up from US$0.042 in 3Q 2022). Revenue: US$85.6m (up 16% from 3Q 2022). Net income: US$13.4m (up 35% from 3Q 2022). Profit margin: 16% (up from 13% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 136% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €2.32, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Energy Services industry in Europe. Total loss to shareholders of 72% over the past three years. Reported Earnings • Aug 26
Second quarter 2023 earnings released: EPS: kr0.13 (vs kr0.80 in 2Q 2022) Second quarter 2023 results: EPS: kr0.13 (down from kr0.80 in 2Q 2022). Revenue: kr88.8m (down 88% from 2Q 2022). Net income: kr30.2m (down 84% from 2Q 2022). Profit margin: 34% (up from 26% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.87, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Energy Services industry in Europe. Total loss to shareholders of 68% over the past three years. Reported Earnings • Apr 25
Full year 2022 earnings released: EPS: US$0.13 (vs US$0.73 in FY 2021) Full year 2022 results: EPS: US$0.13 (down from US$0.73 in FY 2021). Revenue: US$274.3m (up 7.8% from FY 2021). Net income: US$30.9m (down 71% from FY 2021). Profit margin: 11% (down from 42% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €1.63, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 11x in the Energy Services industry in Europe. Total loss to shareholders of 64% over the past three years. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €1.57, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 11x in the Energy Services industry in Europe. Total loss to shareholders of 84% over the past three years. Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: US$0.13 (vs US$0.73 in FY 2021) Full year 2022 results: EPS: US$0.13 (down from US$0.73 in FY 2021). Revenue: US$274.3m (up 7.8% from FY 2021). Net income: US$30.9m (down 71% from FY 2021). Profit margin: 11% (down from 42% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improved over the past week After last week's 17% share price gain to €1.52, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 9x in the Energy Services industry in Europe. Total loss to shareholders of 85% over the past three years. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Director Celina Midelfart was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: US$0.042 (vs US$0.014 in 3Q 2021) Third quarter 2022 results: EPS: US$0.042 (up from US$0.014 in 3Q 2021). Revenue: US$73.7m (up 11% from 3Q 2021). Net income: US$9.92m (up 205% from 3Q 2021). Profit margin: 13% (up from 4.9% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 49% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 22% share price gain to €1.17, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 9x in the Energy Services industry in Europe. Total loss to shareholders of 87% over the past three years. Buying Opportunity • Sep 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €1.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €1.30, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 9x in the Energy Services industry in Europe. Total loss to shareholders of 89% over the past three years. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: US$0.081 (vs US$1.08 in 2Q 2021) Second quarter 2022 results: EPS: US$0.081 (down from US$1.08 in 2Q 2021). Revenue: US$75.3m (up 13% from 2Q 2021). Net income: US$19.4m (down 81% from 2Q 2021). Profit margin: 26% (down from 157% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 20% share price gain to €1.48, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 9x in the Energy Services industry in Europe. Total loss to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improved over the past week After last week's 15% share price gain to €1.74, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 11x in the Energy Services industry in Europe. Total loss to shareholders of 86% over the past three years. Reported Earnings • Jun 02
First quarter 2022 earnings released: EPS: US$0.034 (vs US$0.82 loss in 1Q 2021) First quarter 2022 results: EPS: US$0.034 (up from US$0.82 loss in 1Q 2021). Revenue: US$61.0m (up 8.3% from 1Q 2021). Net income: US$8.03m (up US$15.7m from 1Q 2021). Profit margin: 13% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 22% share price gain to €1.52, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 13x in the Energy Services industry in Europe. Total loss to shareholders of 87% over the past three years. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: US$0.73 (vs US$31.98 loss in FY 2020) Full year 2021 results: EPS: US$0.73 (up from US$31.98 loss in FY 2020). Revenue: US$254.5m (up 3.9% from FY 2020). Net income: US$107.9m (up US$406.7m from FY 2020). Profit margin: 42% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 60% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Alex Monnas was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 24
Full year 2021 earnings released: EPS: US$0.73 (vs US$31.98 loss in FY 2020) Full year 2021 results: EPS: US$0.73 (up from US$31.98 loss in FY 2020). Revenue: US$254.5m (up 3.9% from FY 2020). Net income: US$107.9m (up US$406.7m from FY 2020). Profit margin: 42% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 17% share price gain to €1.01, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 10x in the Energy Services industry in Europe. Total loss to shareholders of 91% over the past three years. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.73 (up from US$31.97 loss in FY 2020). Revenue: US$254.5m (up 3.9% from FY 2020). Net income: US$107.9m (up US$406.7m from FY 2020). Profit margin: 42% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Revenue was in line with analyst estimates. Board Change • Nov 03
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Director Alex Monnas is the most experienced director on the board, commencing their role in 2016. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS US$0.014 (vs US$0.15 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: US$66.5m (down 5.6% from 3Q 2020). Net income: US$3.25m (up US$4.64m from 3Q 2020). Profit margin: 4.9% (up from net loss in 3Q 2020). Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS US$1.08 (vs US$25.33 loss in 2Q 2020) Second quarter 2021 results: Revenue: US$66.4m (up 3.0% from 2Q 2020). Net income: US$104.2m (up US$341.0m from 2Q 2020). Recent Insider Transactions • Jul 11
Director recently bought €16k worth of stock On the 8th of July, Barry Ridings bought around 39k shares on-market at roughly €0.41 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • May 29
First quarter 2021 earnings released: US$0.008 loss per share (vs US$0.021 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$56.3m (up 6.7% from 1Q 2020). Net loss: US$7.69m (loss narrowed 61% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has fallen by 62% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 24
Full year 2020 earnings released: US$0.32 loss per share (vs US$0.099 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$244.8m (down 16% from FY 2019). Net loss: US$298.9m (loss widened 220% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 36% per year whereas the company’s share price has fallen by 33% per year. Reported Earnings • Mar 02
Full year 2020 earnings released: US$0.32 loss per share (vs US$0.099 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$244.8m (down 16% from FY 2019). Net loss: US$298.9m (loss widened 220% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 36% per year and the company’s share price has also fallen by 36% per year. Announcement • Feb 25
Siem Offshore Wins Two-Month Firm Contract Siem Offshore has been awarded a 2-month firm contract with options, excluding mobilization and demobilization, for the offshore subsea construction vessel "Siem Spearfish" for work outside West Africa.
The vessel has commenced its mobilization from Norway. Announcement • Feb 20
Siem Offshore Inc. Announces Contract Award Siem Barracuda Siem Offshore and Seaway 7, the Renewables business unit of Subsea 7, have entered into a contract for an offshore wind project in the Far East. The project will utilize the offshore construction vessel "Siem Barracuda", currently mobilising to the area of operation, for a minimum period of 100 days, excluding options. As recently announced, the company has since its early entrance to the offshore wind segment contributed with over 200,000 personnel transfers at sea, which makes the company a leading player in this segment. Siem Offshore continues its strong commitment to the renewable energy segment and it is highly satisfactory to experience that presence in the “mature” offshore wind markets elsewhere in the world now results in organization being a preferred partner for clients globally. Announcement • Jan 30
Siem Offshore Inc. to Report Fiscal Year 2020 Results on Apr 22, 2021 Siem Offshore Inc. announced that they will report fiscal year 2020 results on Apr 22, 2021 Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total losses of US$313.4m, with losses widening by 261% from the prior year. Total revenue was US$258.9m over the last 12 months, down 12% from the prior year. 