BW Offshore Ltd
OSE:BWO

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BW Offshore Ltd Logo
BW Offshore Ltd
OSE:BWO
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Price: 51.9 NOK 5.17% Market Closed
Market Cap: kr9.6B

BW Offshore Ltd
Investor Relations

BW Offshore Ltd. operates as a holding company, which provides floating production services to the oil and gas industry. The Company, through its subsidiaries, owns and operates oil and gas floating production, storage and offloading vessels (FPSOs) and floating, storage and offloading vessels (FSOs). The company also focuses on field developments of discovered oil and gas fields. The firm operates across Europe, Asia Pacific, West Africa and the Americas. The firm is comprised of BW Offshore, BW LPG, BW Pacific, BW LNG, BW VLCC, BW Chemical Tankers, BW Dry Cargo and BW Fleet Management. The company owns a fleet of 15 FPSOs and one FSO, operating in West Africa, Brazil, Gulf of Mexico, Indonesia, New Zealand and in the North Sea. Its owned fleet includes the vessels, such as BW pioneer, , Yuum K’ak Naab, Pemex, BW Cidade De Sao Vicente, FPSO Polvo, Berge Helene, Abo FPSO, Sendje Berge, Espoir Ivoirien, Petroleo Nautipa, BW Athena, BW Catcher (Premier Oil), and BW Adolo( BW energy).

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 27, 2026
AI Summary
Q4 2025

Strong Q4 Results: BW Offshore delivered high fleet uptime, with EBITDA of $48 million for Q4 and $240 million for the full year—meeting guidance.

Dividend Growth: The company announced a $33 million dividend for Q4, bringing the total 2025 dividend to $67 million, up 12% year-over-year.

BW Opal Progress: Commissioning of BW Opal faced delays but is now ramping up, with practical completion expected by end of next quarter and revenue recognition starting mid-March.

2026 EBITDA Guidance: Management guided for 2026 EBITDA of $340–370 million, a significant increase from 2025.

Strong Financial Position: Net cash stood at $212 million and liquidity at $635 million at year-end, with low consolidated debt maturities.

Strategic Review Ongoing: BW Offshore is conducting a strategic review in response to market interest but stresses this is opportunity-driven, not problem-driven.

FPSO Market Outlook: Management remains optimistic on the FPSO market, targeting disciplined growth and actively working on new project opportunities.

Key Financials
EBITDA
$48 million
EBITDA
$240 million
Net Profit
$24.1 million
Net Profit
$134.2 million
Earnings Per Share
$0.13
Earnings Per Share
$0.74
Operating Cash Flow
$108 million
Net Cash Position
$212 million
Liquidity
$635 million
All-in Cost of Debt
4.9%
Dividend
$33 million (Q4)
Dividend
$67 million (2025 full year)
Dividend Per Share
$0.18 (Q4)
Dividend Per Share
$0.37 (2025 full year)
Operating Cash Flow Backlog
$2.2 billion
Equity Ratio
just over 30%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Marco Beenen
Chief Executive Officer
No Bio Available
Mr. Stale Andreassen
Chief Financial Officer
No Bio Available
Mr. Mike McAreavey
Chief Technology Officer
No Bio Available
Ms. Ming Yen Yip
General Counsel
No Bio Available
Mr. Anders S. Platou
Chief Strategy Officer
No Bio Available
Ms. Mona Rajoo
Chief Commercial Officer
No Bio Available

Contacts

Address
Hamilton
Clarendon House, 2 Church Street
Contacts
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