Limassol, Cyprus, 29 May 2026
The first quarter of 2026 represents the first reporting period for Pelagic
Credit as a listed company, following its admission to trading on Euronext
Growth Oslo on 9 March 2026.
"The results for the first quarter demonstrate the resilience of our business
model, supported by predictable, contracted cash flows. Through the capital
raise and public listing, Pelagic Credit is well positioned to deploy its
capital into new transactions, building on a long-standing track record of
delivering equity-like returns from credit investments since 2009", says CEO
Tobias Backer.
Pelagic Credit generated gross bareboat charter earnings of USD 2.3 million for
the first quarter, and a net profit of USD 0.9 million. Remaining gross bareboat
charter backlog at the end of the period was USD 65.0 million, with an average
remaining charter tenor of 4.7 years.
During the quarter, Pelagic Credit completed a private placement, raising USD 75
million in gross equity proceeds. The equity ratio at quarter-end was 65 per
cent, and the Company held a cash balance of USD 48.7 million.
In March, the Company completed the acquisition of an offshore support vessel
for a net purchase price of USD 24.8 million. The vessel is chartered under a
five-year bareboat charter on a "come hell or high water" basis, including a
contractual purchase obligation at the end of the charter period.
Attached is the report for the first quarter and the presentation material.
CEO Tobias Backer will present the results today at 14:00 CEST. Participants are
welcome to follow the event via webcast.
Please use the following link to register for the webcast:
https://qcnl.tv/p/W6kmULBx14UFV5XkxxKpig
For further information, please contact:
Tobias Backer, CEO
tobias@pelagic-credit.com
+357 97 771 170 / +44 7799 815 020 / +1 917 207-8680
ABOUT PELAGIC CREDIT
Pelagic Credit is a yield-oriented ship owning company focused on generating
stable cash flows through long-term contracted employment of maritime assets.
The Company originates and structures long-term leasing and credit transactions
designed to generate predictable, contracted cash flows. Pelagic Credit is
listed on Euronext Growth Oslo and headquartered in Limassol, Cyprus.
For more information: www.pelagic-credit.com.
This information is subject to the disclosure requirements in the Norwegian
Securities Trading Act § 5-12.
disclosure requirements in the Norwegian\
Securities Trading Act § 5-12.\