Savannah Energy shares to be suspended as it delays annual report

(Sharecast News) - Savannah Energy said on Tuesday that publication of its 2025 annual report had been delayed until August, with trading in its shares set to be suspended from 1 July pending completion of the audit. The AIM-traded company said the audit process was at an advanced stage and that unaudited 2025 performance remained in line with guidance issued in February.

Revenue rose 3% to $234.8m, while cash collections increased 12% to a record $278.0m.

Adjusted EBITDA fell to $124.2m from $181.2m, reflecting lower gas sales and a number of non-recurring costs, although the acquisition of SIPEC contributed more than $18.5m of post debt-service cash flow and a provisional accounting gain of $155.3m.

Production declined to 18.8 thousand barrels of oil equivalent per day from 23.1 thousand, while year-end cash increased to $42.7m from $32.6m and net debt rose to $658.8m from $636.9m.

Savannah said only 6% of its debt was recourse to the parent company and confirmed it had agreed an increase in the Stubb Creek reserve-based lending facility to $130.0m, with documentation expected to be completed shortly.

At 1154 BST, shares in Savannah Energy were down 9.51% at 5.52p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate