Italian marine services operator Guidotti Ships reported a €46,509 (US$52,748) net loss for the first half of 2026, which it attributed mainly to rescheduled offshore assistance and marine survey work.
Results released on September 29 showed a €488,000 (US$553,000) net profit for H1 2025. Revenue from sales and services was €1.69 million (US$1.92 million), compared with about €2.2 million (US$2.5 million) a year earlier, a decline of 23 per cent.
Guidotti Ships said it had renewed a contract with its main offshore client for a further five years during the six months to June 30, giving it greater visibility over future work. The company did not identify the client or disclose the contract value.
By the time of its September 29 update, the company had completed the principal offshore assignments scheduled for the third quarter, including work for its main client in the energy sector. It said the postponed contracts were being carried out during the remaining months of 2026.
Guidotti Ships was also taking part in marine survey contract award procedures, with decisions expected in the coming months. The company described the second half as its busiest period.
“The first half is structurally the least representative period for our sector,” said Domenico Guidotti, Guidotti Ships’ Chief Executive, adding that the company uses that time for fleet maintenance and certification before work picks up later in the year.
Guidotti Ships said the year-on-year comparison was also affected by non-recurring work in H1 2025. Value of production fell 11.1 per cent to €2.27 million (US$2.57 million) from €2.56 million (US$2.9 million) a year earlier. This is a separate measure from sales-and-services revenue.
Gross operating profit declined to €210,000 (US$238,000) from €620,000 (US$703,000). The company said the adjustment reflected listing expenses charged to its H1 income statement.
Adjusted gross operating profit was 9.3 per cent of value of production. After €130,000 (US$150,000) in depreciation and €30,000 (US$34,000) in provisions for risks, adjusted operating profit was €50,000 (US$57,000).
The adjusted net financial position showed net cash of €204,495 (US$231,928) at June 30, down from €1.32 million (US$1.5 million) at December 31, 2025. The June figure treated a €166,548.18 (US$) receivable from Franmarine as a pro forma bank inflow; the payment was collected in July.
Guidotti Ships is converting the former fishing vessel Vincenzo I and building a marine-engineering workshop, investments it expects will expand operating capacity from 2027.
The company’s 11 multi-purpose vessels serve offshore support, marine survey work, pollution response and passenger transport during the season.