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Abu Dhabi-based Gulf Marine Services (GMS) on Thursday revised its 2024 adjusted EBITDA guidance to between $95 and $100 million following the award of a new long-term contract for one of its vessels in the GCC.
The LSE-listed company, which provides support vessels to the offshore oil industry, had previously issued an adjusted EBITDA guidance of between $92-100 million.
The new contract is for five years, inclusive of optional extensions, and takes GMS’ backlog to $464 million, a statement said. It didn’t disclose the value of the deal.
(Writing by Brinda Darasha; editing by Daniel Luiz)