#Bermuda #Hamilton #Paratus Energy #Fontis Holdings #Receivables Payment

Paratus Energy Services' Recent Success in Mexico

In a significant move for its operations and client relations, Paratus Energy Services Ltd. (ticker symbol: "PLSV") has announced a remarkable development concerning its subsidiary, Fontis Holdings Ltd. On February 5, 2025, the company confirmed that Fontis successfully collected roughly $209 million in overdue invoices from a key client in Mexico. This milestone was achieved under a receivables monetization agreement originally revealed to the public on January 24, 2025.

The recent payment marks an important step in Fontis' ongoing operations within the vibrant Mexican energy market. This transaction not only helps in alleviating financial pressures but also reinforces the firm’s commitment to maintaining a strong and profitable relationship with its clients. The collected amount includes the standard Mexican VAT of 16%, which highlights the company's adherence to local tax regulations while engaging in commercial activities.

Fontis Holdings, along with its subsidiaries, forms an integral part of Paratus Energy Services' strategy in the region. The company is primarily recognized for its offshore drilling capabilities, operating a fleet of five high-specification jack-up rigs under contract, emphasizing its role in ensuring reliable energy production across various sectors. With this recent payment, Paratus underscores its determination to continue successful operations and forge lasting client partnerships in Mexico.

Paratus has built a reputation as an investment holding company that supports a group of notable energy service firms. This expanding portfolio includes not only Fontis Energy but also a 50/50 joint venture in Seagems, a subsea services firm that operates in Brazil with a fleet of six multi-purpose pipe-laying support vessels. The multifaceted nature of Paratus's business endeavors highlights its strategic intent to maintain influence within key regional markets.

CEO and CFO Perspectives

In light of this successful collection, Paratus's leadership expressed their positivity about future operations. Robert Jensen, the CEO, emphasized the company's commitment to fostering relationships with clients and ensuring that collaborations yield mutually beneficial results. Meanwhile, CFO Baton Haxhimehmedi reiterated the importance of stable cash flow to support ongoing and upcoming projects in Mexico and beyond.

Implications for the Future

The receipt of overdue payments not only stabilizes the company's financial profile but also opens the door for further investments and developments in its energy services. Paratus Energy's proactive approach in finalizing transactions and maintaining clear communication channels exemplifies its capability to navigate complex commercial landscapes effectively.

With an eye on continued growth, this recent accomplishment sets the tone for Paratus Energy Services and Fontis Holdings to explore new opportunities, expand their operational footprint, and optimize their service offerings in emerging markets.

As they look forward, both entities are poised to capitalize on their strengths and leverage their joint venture capabilities for enhanced performance across their respective domains. The recent $209 million payment is, undoubtedly, a testament to Paratus Energy's robust operational framework and strategic vision for long-term success.

This payment event not only marks a financial milestone for Paratus but also demonstrates the critical intersections of finance, business relationships, and operational success in the dynamic energy sector.