MedservRegis plc - Interim Report

On 6 June 2025, MedservRegis plc published an interim report providing an overview of the company’s performance during the first three months of 2025 compared to the same period last year.

Revenue increased by 26% to €21.7 million compared to €17.2 million in Q1 2024, reflecting the surge in income from the Integrated Logistics Support Services segment (+56% to €12.8 million) which was primarily driven by ongoing offshore drilling operations serviced from Malta and Cyprus.  Meanwhile, revenue from Oil Country Tubular Goods (OCTG) and Photovoltaic Farm remained virtually unchanged at €8.8 million and €0.1 million respectively.

In line with the increase in revenue, EBITDA also increased by 26% to €4.9 million compared to €3.9 million in the first three months of 2024. As such, the EBITDA margin remained virtually unchanged at 22.7%. The company highlighted that the strategic focus is for margin growth.

Medserv explained that the 2025 performance is expected to be in line with 2024, reflecting the resilience of the OCTG segment and the resumption of drilling campaigns offshore Libya. Nonetheless, the company noted that it faces challenges including geopolitical instability in Libya and adverse foreign exchange movements, particularly between the euro and the US Dollar.