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:
For further information, please contact:
Tobias Backer, CEO
tobias@pelagic-credit.com
+357 97 771 170 / +44 7799 815 020 / +1 917 207-8680
