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Gulf Marine Services
(LSE:GMS)
Gulf Marine Services (GMS) vs. iShares MSCI United Kingdom ETF (EWC)
Gulf Marine Services Business Overview & Revenue Model
Gulf Marine Services Financial Statement Overview
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 167.49M | 151.60M | 133.16M | 115.13M | 102.49M | Gross Profit |
| 89.64M | 69.62M | 60.53M | 60.63M | -55.53M | EBIT |
| 72.61M | 88.19M | 47.32M | 48.35M | -73.74M | EBITDA |
| 101.41M | 106.80M | 76.47M | 81.35M | -37.43M | Net Income Common Stockholders |
| 37.98M | 41.34M | 25.33M | 31.00M | -124.30M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 40.01M | 8.71M | 12.28M | 8.27M | 3.80M | Total Assets |
| 683.14M | 668.33M | 658.82M | 674.40M | 654.44M | Total Debt |
| 240.38M | 279.30M | 331.61M | 382.45M | 413.37M | Net Debt |
| 200.38M | 270.63M | 319.33M | 374.18M | 409.57M | Total Liabilities |
| 300.44M | 338.05M | 371.25M | 411.69M | 447.58M | Stockholders Equity |
| 379.70M | 327.57M | 285.59M | 260.80M | 205.17M |
| Cash Flow | Free Cash Flow | |||
| 94.70M | 81.39M | 76.25M | 29.00M | 31.05M | Operating Cash Flow |
| 103.56M | 94.40M | 82.56M | 40.51M | 44.27M | Investing Cash Flow |
| -8.77M | -12.79M | -6.30M | -11.50M | -12.35M | Financing Cash Flow |
| -63.45M | -85.22M | -72.26M | -24.54M | -36.52M |
Gulf Marine Services Technical Analysis
Gulf Marine Services Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £223.50M | 7.12 | 10.54% | ― | 7.46% | -14.72% | |
58 Neutral | $7.56B | 3.50 | -4.45% | 10.15% | 0.79% | -49.51% | |
| $200.80M | ― | -15.72% | ― | ― | ― | ||
61 Neutral | £275.30M | 6.00 | ― | -11.70% | ― | ||
56 Neutral | £160.67M | 17.20 | -3.25% | ― | -28.38% | 90.60% | |
56 Neutral | £416.46M | 4.81 | -2.91% | 2.57% | 9.74% | -123.08% | |
| £20.59M | ― | ― | ― | ― |
Gulf Marine Services Corporate Events
Gulf Marine Services PLC has announced a change in its major holdings, with Bank of America Corporation adjusting its voting rights and financial instruments. The notification reveals that the total voting rights held by Bank of America have slightly decreased, which may influence the company’s shareholder dynamics and market perception.
Gulf Marine Services PLC announced a change in major holdings as Bank of America Corporation, through its subsidiary Merrill Lynch International, has increased its voting rights in the company to 7.0028%. This acquisition of voting rights signifies a slight increase from the previous 6.984381%, potentially impacting the company’s governance and strategic decisions. The change reflects a continued interest and investment from major financial institutions, which could influence Gulf Marine Services’ market positioning and stakeholder confidence.
Gulf Marine Services PLC has announced a change in its voting rights, with Bank of America Corporation crossing a significant threshold in its holdings. The adjustment in voting rights, resulting from a combination of direct and financial instruments, reflects a decrease from a previous position, potentially impacting the company’s governance and shareholder dynamics.
Gulf Marine Services PLC announced the granting of share awards to Executive Chairman Mansour Al Alami under the company’s Long Term Incentive Plan. The awards, which include Long-term Incentive Awards and Deferred Share Bonus Plan Awards, are tied to performance conditions aligned with shareholder interests and are set to vest over the next few years. This move is part of the company’s strategy to align executive compensation with shareholder returns, potentially impacting its market positioning by incentivizing leadership to drive company performance.
Gulf Marine Services has received a request to convene a general meeting to propose board changes and a dividend payment, which was determined to be invalid following legal advice. The company expressed disappointment over the lack of dialogue from the requesting parties and advised shareholders to refrain from taking any action.
Gulf Marine Services has received a request to convene a general meeting to propose changes to the Board and the payment of a dividend. This follows a similar, previously invalid request. The company is seeking legal advice on the validity of the current request and advises shareholders to take no action for now.
Gulf Marine Services PLC announced that all resolutions were passed at its Annual General Meeting held in Abu Dhabi, including the re-appointment of directors and the approval of the company’s Long Term Incentive Plan. These decisions are expected to strengthen the company’s governance and operational capabilities, enhancing its competitive position in the offshore energy support sector.
Gulf Marine Services announced that a recent request to convene a general meeting for board changes and dividend payment was deemed invalid after legal consultation. The company is engaging with the requestors and advises shareholders to refrain from action, noting that this does not impact the upcoming Annual General Meeting.
Gulf Marine Services has received a request to convene a general meeting to discuss proposed changes to the Board and the payment of a dividend. The company is currently seeking legal advice on the validity of this request and advises shareholders to refrain from taking any action until further notice. This development does not impact the proposals for the upcoming Annual General Meeting.
Gulf Marine Services PLC announced that its appeal against a tax assessment by the Saudi Zakat, Tax and Customs Authority has been denied, with no further appeals possible. The judgment may delay the company’s target leverage ratio, but it maintains its EBITDA guidance for 2025 and 2026. The company had previously made provisions for this outcome, and the financial impact will be reflected in its statements. Despite this setback, GMS continues to focus on its operational performance and financial targets.
Gulf Marine Services PLC reported a strong start to 2025 with a 14% increase in revenue to $42.3 million for Q1, driven by higher day rates and vessel utilization. The company also saw a 21% rise in adjusted EBITDA and a significant reduction in net debt, reflecting improved financial health. The outlook remains positive with strong market demand and plans to capitalize on market opportunities, despite potential economic uncertainties. The company is focused on maintaining a resilient capital structure and maximizing shareholder value.
Gulf Marine Services PLC has released its 2024 Annual Report and announced the 2025 Annual General Meeting (AGM), scheduled for May 29, 2025, in Abu Dhabi. The company emphasizes shareholder engagement by facilitating proxy voting and question submissions via email for those unable to attend. This approach ensures shareholder participation and transparency in corporate governance, potentially strengthening stakeholder trust and company reputation.
Gulf Marine Services PLC reported a 10% increase in revenue to $167.5 million for 2024, driven by improved fleet day rates, despite a 9% drop in net profit to $38.3 million. The company successfully refinanced a $300 million loan, reducing net bank debt by 25% and improving its net leverage ratio to 2.0. Operationally, GMS secured new contracts totaling 23.8 years and maintained strong fleet utilization at 92%, while achieving zero lost time and recordable injury rates. The company aims to further enhance shareholder value through strategic debt reduction, improved EBITDA, and a robust pipeline of opportunities in the offshore energy sector.
Gulf Marine Services PLC announced its 2024 financial results, highlighting a 10% increase in revenue to $167.5 million and a 15% rise in adjusted EBITDA to $100.4 million. Despite a 9% decrease in net profit to $38.3 million, the company achieved significant operational milestones, including securing new contracts and extensions totaling 23.8 years and maintaining a high fleet utilization rate of 92%. The successful refinancing of a $300 million loan facility at favorable terms reduced net bank debt and improved the net leverage ratio, enhancing financial flexibility and positioning the company for future growth. The company also announced a future dividend policy and continued efforts to expand its presence in the offshore wind sector, reflecting its commitment to shareholder value and sustainable growth.
Gulf Marine Services has secured a new contract for one of its Large-class vessels in the GCC, marking the company’s fourth contract win or extension this year. This achievement underscores the strong demand for GMS’s vessels and highlights the company’s robust market position in the offshore energy industry, reinforcing client confidence in their reliable solutions.
Gulf Marine Services PLC announced that as of 31 March 2025, its issued share capital consists of 1,129,946,314 ordinary shares with voting rights. This update is crucial for shareholders to determine their notification requirements under the FCA’s Disclosure Guidance and Transparency Rules, impacting how they manage their interests in the company.
Gulf Marine Services has secured a new contract for an additional vessel in the Middle East, awarded by a major regional client for a term of seven months. This contract highlights GMS’s capability to provide tailored solutions and reinforces its flexibility in meeting client demands, potentially strengthening its market position and operational footprint in the offshore energy sector.