Performance Highlights
The key numbers from our 2Q 2026 Profit & Loss
| (USD MM) | 2Q 2026 | 2Q 2025 | YoY Amount Change |
|---|---|---|---|
| Income | |||
| Revenue from rendering of services | 61.8 | 112.4 | (50.6) |
| Interest income and other income | 1.3 | 0.4 | +0.9 |
| Total income | 63.1 | 112.8 | (49.7) |
| Expenses | |||
| Costs of rendering of services | 60.7 | 111.6 | (50.9) |
| Administrative expenses | 6.9 | 6.1 | +0.8 |
| Net loss on foreign exchange | 0.3 | 1.9 | (1.6) |
| Finance costs | 1.8 | 2.2 | (0.4) |
| Total expenses | 69.7 | 121.8 | (52.1) |
| Profit (loss) from operations | (6.6) | (9.0) | +2.4 |
| Share of profit of joint ventures and associate | 1.3 | 1.4 | (0.1) |
| Profit (loss) before tax expense | (5.3) | (7.6) | +2.3 |
| Tax income (expense) | 1.0 | (0.1) | +1.1 |
| Net profit (loss) for the period | (4.3) | (7.7) | +3.4 |
| Earnings per share (US Cents) | (0.2) | (0.6) | +0.4 |
| EBITDA (excluding share of profit) | (0.2) | 0.1 | (0.3) |
Total Order Book
- Cable Lay
- Subsea IRM
- T&I and Decommissioning
Order Book by Region
As at 30 June 2026, the Group’s order book stood at USD 750 million.
Mermaid Group has secured multiple projectawards across the Middle East, Southeast Asia, the NorthSea, and Western Sub-SaharaAfrica, covering both short-term and long-term contracts extending through to FY2036. The order book includes services such as inspection, repair and maintenance (IRM), cable laying,subsea pipeline tie-in, and T&I and decommissioning.