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Deep Value Driller (DVD) investor relations material
Deep Value Driller Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Drillship operated under a bareboat charter with Saipem, amended and extended through July 2026, with further extension options exercised.
Signed SPA to sell the Drillship for $300m, with $70m received upfront and $230m due upon delivery in September 2026.
Dividends distributed in H1 2026 totaled 1.05 NOK per share.
Financial highlights
H1 2026 total income: $30.37m, down from $36.58m year-over-year.
Operating profit H1 2026: $14.70m, down from $20.04m year-over-year.
Net profit H1 2026: $8.85m, down from $14.45m year-over-year.
Cash and cash equivalents at June 30, 2026: $84.7m, up from $14.5m at year-end 2025, mainly due to the $70m prepayment for the drillship sale.
Total assets increased to $173.4m from $112.3m at year-end 2025.
Outlook and guidance
Drillship redelivery to occur in Malaysia around August 17/18, 2026, with final sale to Eldorado Drilling AS expected mid-September 2026.
Further updates on distribution of sale proceeds to shareholders will be provided.
- Q1 2026 saw strong results, a $300M drillship sale, and a significant cash increase.DVD
Q1 2026 - Stable annual profit and high uptime amid lower Q4 income and major charter extension.DVD
Q4 2025 - Strong Q3 profit and new charter boost backlog, but equity drops after share premium payout.DVD
Q3 2025 - Net profit rose to $14.4 million in H1 2025, with a new charter boosting future revenue.DVD
Q2 2025 - Q3 2024 saw robust operational performance, profitability, and upcoming shareholder distributions.DVD
Q3 2024 - Strong H1 2024 profit and cash flow driven by high rig utilization and charter contract.DVD
Q2 2024 - Q1 2025 delivered higher profits, a major charter extension, and continued strong cash returns.DVD
Q1 2025 - Q4 2024 saw strong earnings, high utilization, and ongoing dividends amid loan facility expansion.DVD
Q4 2024
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