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"value": "\n
\nNote 1 General Information
\nDescription of business
\nArcher Limited is incorporated in Bermuda. The legal name of the Company is
\n\n
Archer
\n
Limited
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
, which also is its commercial name. The Company\u2019s registered office is at
\n\nPar-la-
\nVille Place, 14 Par-la-Ville Road, Hamilton HM 08, Bermuda
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n. The head office is at
\nSandnesveien 358, 4312 Sandnes, Norway.
\n\n
The consolidated financial statements including
\n
notes for Archer Ltd for the year 2025 were approved by the Board on 23 April 2026.
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\nArcher Limited, along with its subsidiaries, (\u201cArcher\u201d or the \u201cCompany\u201d) is a global energy
\nservices company with a heritage in drilling and well services that stretches back over 50
\nyears. The Company is publicly traded on the Oslo Stock Exchange under the ticker ARCH.
\n
\n\n\n\n\n\n\n\nArcher provides drilling and well services to the global energy industry, employing 4,476
\nglobally at 31 December 2025. Archer operates in over 40 countries, providing sustainable
\nhigh-quality services and innovative technology to optimize Archer\u2019s customer\u2019s energy
\nsolutions. Archer\u2019s main operations currently take place in the major basins within Europe,
\nAsia Pacific, North and South America and Archer is expanding throughout the Middle East,
\nand West Africa. Archer holds a leading and technologically advanced position within plug
\nand abandonment (P&A), delivering integrated solutions that enable safe, efficient and
\npermanent well decommissioning in mature basins globally. Leveraging decades of
\noperational experience, proprietary technology and engineering expertise, Archer supports
\noperators in meeting regulatory requirements while optimizing cost and reducing
\nenvironmental footprint.
\nThe Group\u2019s operations are managed through four segments: Platform Operations, Well
\nServices, Land Drilling and Renewables.
\nPlatform Operations
\nPlatform Operations delivers drilling operations, maintenance and engineering services on
\noffshore production platforms, primarily in the North Sea and other mature basins. The
\nsegment focuses on safe, efficient and cost-effective platform drilling, modification projects
\nand integrated operations to maximize uptime and asset value for operators.
\nWell Services
\nWell Services provides a broad portfolio of well intervention, wireline and downhole services
\naimed at improving well performance and extending field life. The segment supports
\ncustomers throughout the well lifecycle, from completion and stimulation to maintenance
\nand plug and abandonment.
\nLand Drilling
\nLand Drilling comprises Archer\u2019s fleet of high-specification land drilling rigs, primarily
\ndeployed in the Vaca Muerta basin in Argentina. With a long operational heritage in the
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nregion, the segment delivers efficient and reliable drilling services to leading operators,
\nsupported by strong local expertise, modern rig technology and a consistent focus on
\nsafety and performance in unconventional shale developments.
\nRenewables
\nRenewables leverages Archer\u2019s engineering competence, operational experience and
\ntechnology to support energy transition activities. The segment provides services within
\nareas such as offshore wind, carbon capture and storage (CCS) and geothermal low-carbon
\nenergy solutions.
\nAs used herein, unless otherwise required by the context, the term \"Archer\" refers to Archer
\nLimited and the terms \"Company,\" \"we,\" \"Group,\" \"our\" and words of similar import refer
\nto Archer and its consolidated subsidiaries. The use herein of such terms as \u201cgroup\u201d,
\n\u201corganization\u201d, \u201cwe\u201d, \u201cus\u201d, \u201cour\u201d and \u201cits\u201d or references to specific entities is not intended
\nto be a precise description of corporate relationships.
\n\n
Going Concern
\n
The financial statements have been prepared on a going concern basis. This assumption
\n
is based on the liquidity position of the Group, forecasted operating results, and the market
\n
outlook for the oil service sector as at 31 December 2025.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
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"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag593": {
"value": "Archer Limited",
"dimensions": {
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"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag596": {
"value": "Bermuda",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag597": {
"value": "Bermuda",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag594": {
"value": "Bermuda",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag595": {
"value": "\nPar-la-\nVille Place, 14 Par-la-Ville Road, Hamilton HM 08, Bermuda\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag578": {
"value": "\nThe consolidated financial statements including
\nnotes for Archer Ltd for the year 2025 were approved by the Board on 23 April 2026.
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag598": {
"value": "\nArcher Limited, along with its subsidiaries, (\u201cArcher\u201d or the \u201cCompany\u201d) is a global energy\nservices company with a heritage in drilling and well services that stretches back over 50\nyears. The Company is publicly traded on the Oslo Stock Exchange under the ticker ARCH.\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag579": {
"value": "\nGoing Concern
\nThe financial statements have been prepared on a going concern basis. This assumption
\nis based on the liquidity position of the Group, forecasted operating results, and the market
\noutlook for the oil service sector as at 31 December 2025.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag575": {
"value": "\n
\n
\n
\n
\nNote 2 Summary of IFRS Accounting Policies
\n\n
Basis of presentation
\n
\n
\n
The financial statements of the Group for the year ended 31 December 2025 are presented
\n
in accordance with IFRS\u00ae Accounting Standards as adopted by the EU.
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
The amounts are
\n
presented in United States Dollars, USD, or $ rounded to the nearest a million, unless
\n
otherwise stated.
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
We present our financial statements on a continuing business basis and
\n
separately present discontinued operations. The accounting policies set out below have
\n
been applied consistently to all periods in these consolidated financial statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
Basis of consolidation
\n
Investments in companies in which we directly or indirectly hold more than 50% of the
\n
voting control are generally consolidated in our financial statements. Subsidiaries are fully
\n
consolidated from the date on which control is transferred to the Group. When necessary,
\n
adjustments are made to the financial statements of subsidiaries to bring their accounting
\n
policies in line with the Group\u2019s accounting policies.
\n
Entities in which we do not have a controlling interest but over which we have significant
\n
influence are accounted for under the equity method of accounting. Our share of after-tax
\n
earnings of equity method investees is reported under Share of results of unconsolidated
\n
associates. A list of all significant consolidated subsidiaries is disclosed in the Note 37
\n
Subsidiaries. Intercompany transactions and internal sales have been eliminated through
\n
consolidation.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Reclassifications
\n
Certain amounts in the prior years consolidated financial statements may be reclassified
\n
when necessary to conform to the current year\u2019s presentation.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Use of estimates
\n
The preparation of financial statements in conformity with IFRS requires management to
\n
make estimates and assumptions that affect the reported amounts of assets and liabilities
\n
and disclosure of contingent assets and liabilities at the date of the financial statements,
\n
as well as the reported amounts of revenues and expenses during the reporting period.
\n
Future events and their effects cannot be predicted with certainty. Accordingly, our
\n
accounting estimates require the exercise of judgement. While management believes the
\n
estimates and assumptions used in the preparation of the consolidated financial statements
\n
are appropriate, actual results could differ materially from those estimates. Estimates are
\n
used for, but are not limited to, determining the following: allowance for doubtful accounts,
\n
recoverability of long-lived assets, goodwill and intangibles, useful lives used in depreciation
\n
and amortization, income taxes and valuation allowances and purchase price allocations.
\n
The accounting estimates used in the preparation of the consolidated financial statements
\n
may change as new events occur, as more experience is acquired, as additional information
\n
is obtained and as our operating environment changes.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n\n
Foreign currencies
\n
For subsidiaries that have functional currencies other than the USD, the statements of
\n
operations are translated using the average exchange rate for the month and the assets
\n
and liabilities are translated using the year-end exchange rate. Foreign currency translation
\n
gains or losses are recorded as a separate component of other comprehensive income in
\n
shareholders\u2019 equity. Transactions in foreign currencies during the year are translated into
\n
the functional currency of the respective entity at the rates of exchange in effect on the
\n
date of the transaction. Foreign currency assets and liabilities are translated using rates of
\n
exchange at the balance sheet date. Foreign currency transaction gains or losses are
\n
included in the consolidated statements of operations.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
Current and noncurrent classification
\nAssets and liabilities are classified as current when they are expected to be realized or
\nsettled within the Group\u2019s normal operating cycle, or within twelve months after the reporting
\ndate, or when they are held primarily for trading, or are cash and cash equivalents (unless
\nrestricted). All other assets and liabilities are classified as non-current.
\n\n
Inventories
\n
Inventories are stated at the lowest of cost and net realisable value. Cost is determined
\n
using the first-in, first-out (FIFO) method and includes all costs of purchase, conversion,
\n
and other costs incurred in bringing the inventories to their present location and condition.
\n
Net realisable value represents the estimated selling price in the ordinary course of business,
\n
less estimated costs of completion and costs necessary to make the sale. Inventory
\n
balances are regularly reviewed for excess quantities and obsolescence by analysing
\n
demand, inventory levels, and sales trends. When necessary, inventories are written down
\n
to their net realisable value. If circumstances that previously caused inventories to be written
\n
down no longer exist, or if there is clear evidence of an increase in net realisable value, the
\n
write-down is reversed in the period of recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
Deferred charges
\n\n
Loan-related transaction costs, including debt arrangement and structuring fees, incurred
\n
on the initial arrangement of borrowings are capitalised and amortised over the term of the
\n
related loan using the effective interest method. Amortisation of such costs is included in
\n
interest expense in the consolidated statement of operations.
\n
Subsequent costs associated with existing borrowings, such as commitment fees on
\n
undrawn facilities, are recognised in interest expense in the period in which they are incurred.
\n
Unamortised transaction costs are presented as a deduction from the carrying amount of
\n
the associated financial liability in the consolidated balance sheet.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
Parties are considered to be related when one party has the ability, directly or indirectly, to
\n
control, jointly control, or exercise significant influence over the other party in making
\n
financial and operating decisions.
\n
Parties are also related if they are subject to common control or common significant
\n
influence, or if they are members of the same group. Related parties include the parent
\n
company, subsidiaries, associates, joint ventures, key management personnel, and post-
\n
employment benefit plans for the benefit of employees of the Group or its related entities.
\n
Transactions with related parties are carried out on an arm\u2019s-length basis and are disclosed
\n
in Note 33 Related Parties to the consolidated financial statements.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n
Accounting judgement and key sources of estimation uncertainty
\n
Estimates and judgments are continuously evaluated and are based on historical experience
\n
and other factors, including expectations of future events that are considered reasonable
\n
under the circumstances.
\n
In preparing the consolidated financial statements, the Group is required to make estimates
\n
and assumptions concerning the future. These estimates reflect the Group\u2019s underlying
\n
business activities, its current and projected profitability, as well as expectations regarding
\n
external factors such as interest rates, foreign exchange rates, and other variables outside
\n
the Group\u2019s control. Because estimates and assumptions involve inherent uncertainty,
\n
actual results may differ from those estimates.
\n\n
The estimates and assumptions that involve a significant risk of resulting in a material
\n
adjustment to the carrying amounts of assets and liabilities within the next financial year
\n
are presented below.
\n
Revenue recognition - Note 4 Revenue
\n
Recognition of deferred tax assets - Note 10 Income Tax
\n
Evaluation of indicators of impairment Note 15 Impairment of Assets
\n
Fair value of acquired assets - Note 17 Business Acquisitions and Disposals
\n
Provisions and contingent liabilities - Note 28 Provisions and Contingent Liabilities
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
New and Amended Standards and Interpretations Not Yet Adopted
\n
New or amended International Financial Reporting Standards (IFRS) and IFRIC
\n
Interpretations that became effective on 1 January 2025 did not have a material impact on
\n
the Group\u2019s consolidated financial statements.
\n
Certain new standards and amendments have been issued but are not yet effective for the
\n
year ended 31 December 2025, and the Group has not early adopted them. These include,
\n
among others:
\n
\u2022 Amendments to IFRS 10 and IAS 28 \u2013 Sale or Contribution of Assets between an Investor
\n
and its Associate or Joint Venture
\n
\u2022 Amendments to IAS 1 \u2013 Classification of Liabilities as Current or Non-current
\n
\u2022 IFRS 18 \u2013 Presentation and Disclosure in Financial Statements, issued in April 2024,
\n
which will replace IAS 1 and is effective for annual reporting periods beginning on or
\n
after 1 January 2027
\n
The Group is currently evaluating the impact of these standards and amendments and does
\n
not expect them to have a material effect on its consolidated financial statements upon
\n
adoption.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Note 4 Revenue
\n
Revenue from contracts with customers
\n
The activities that primarily drive the revenue earned from our drilling contracts include:
\n
\u2022 Providing specialist crew for the operation of, or repair, maintenance or modifications
\n
of Customer\u2019s platform rigs.
\n
\u2022 Providing land drilling rigs and modular rigs, and the crew and supplies necessary to
\n
operate the rigs;
\n
\u2022 Mobilizing and demobilizing land rigs between well sites;
\n
\u2022 Wireline services; and
\n
\u2022 Rental of equipment
\n
Day rate Drilling Revenue - Our contracts generally provide payment on a day rate basis,
\n
with higher rates for periods when the drilling unit is operating and lower rates or zero rates
\n
for periods when drilling operations are interrupted or restricted. The day rate invoices billed
\n
to the customer are typically determined based on the varying rates applicable to the specific
\n
activities performed on an hourly basis. Such day rate consideration is allocated to the
\n
distinct hourly increment it relates to within the contract term, and therefore, recognized in
\n
line with the contractual rate billed for the services provided for any given hour.
\n
Mobilization Revenue - We may receive fees (on either a fixed lump sum or variable day
\n
rate) for the mobilization of our rigs. These activities are not considered to be distinct within
\n
the context of the contract and therefore, the associated revenue is allocated to the overall
\n
performance obligation and recognized ratably over the expected term of the related drilling
\n
contract. We record a contract liability for mobilization fees received, which is amortized
\n
ratably to contract drilling revenue as services are rendered over the initial term of the related
\n
drilling contract. Contract mobilization costs include costs that are directly attributable to
\n
our future performance obligation under each respective drilling contract. Company defers
\n
mobilization costs and recognizes such costs on a straight-line basis over the same period
\n
as the corresponding mobilization revenue.
\n
Demobilization Revenue - We may receive fees (on either a fixed lump-sum or variable day
\n
rate) for the demobilization of our rigs. Demobilization revenue expected to be received
\n
upon contract completion is estimated as part of the overall transaction price at contract
\n
inception and recognized over the term of the contract. In most of our contracts, there is
\n
uncertainty as to the likelihood and amount of expected demobilization revenue to be
\n
received. For example, the amount may vary depending upon whether the rig has additional
\n
contracted work following the initial contract. Therefore, the estimate for such revenue may
\n
be constrained, as described above, depending on the facts and circumstances pertaining
\n
to the specific contract. We assess the likelihood of receiving such revenue based on
\n
experience and knowledge of the market conditions. Demobilization costs are generally
\n
expensed as incurred, as they do not give rise to future economic benefits. Where such
\n
costs are directly related to satisfying future performance obligations, they are deferred
\n
and amortized consistently with the related revenue.
\n
Revenues Related to Reimbursable Expenses - We generally receive reimbursements from
\n
our customers for the purchase of supplies, equipment, personnel services and other
\n
services provided at their request in accordance with a drilling contract or other agreement.
\n
Such reimbursable revenue is variable and subject to uncertainty, as the amounts received
\n
and timing thereof is highly dependent on factors outside our influence. Accordingly,
\n
reimbursable revenue is not recorded and not included in the total transaction price until
\n
the uncertainty is resolved, which typically occurs when the related costs are incurred on
\n
behalf of a customer. We are generally considered an agent in such transactions.
\n
Accordingly, reimbursable revenue is presented net of the corresponding costs,
\n
representing the margin, if any, earned on such transactions.
\n
Revenue from Long\u2011Term Contracted Projects \u2013 The Company is party to long\u2011term
\n
contractual arrangements that extend beyond the reporting period. The revenue recognized
\n
from these projects includes estimates of variable consideration such as change orders,
\n
claims, compensation for additional services performed, cost overruns and other
\n
contractual adjustments. These amounts are recognized only when it is highly probable
\n
that a significant reversal of cumulative revenue recognized will not occur. The assessment
\n
of such variable consideration involves significant judgement, including evaluation of
\n
contractual rights, the status of negotiations with customers, historical settlement
\n
experience on similar projects and other relevant facts and circumstances. In certain cases,
\n
revenue recognized may be subject to customer approval or ongoing discussions. Actual
\n
outcomes may differ from management\u2019s estimates as projects progress or are completed,
\n
and any resulting adjustments are recognized in the period in which they become known.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
Note 5 Segments
\n
\n
Archer reports financial information to its Board of Directors, which acts as the Group\u2019s Chief Operating Decision Maker (\u201cCODM\u201d). The CODM reviews segment results to assess
\n
performance and to allocate resources. Operating segments are identified based on the nature of services provided, and the internal reports regularly reviewed by the CODM in accordance
\n
with IFRS 8 Operating Segments.
\n
The Group presents its operations under the following reporting segments:
\n
\u2022 Platform Operations
\n
\u2022 Well Services
\n
\u2022 Renewables
\n
\u2022 Land Drilling
\n
Corporate costs and corporate assets are reported separately and are not allocated to operating segments.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe accounting policies applied in determining segment information are consistent with the accounting principles used in the consolidated financial statements.\n
\n\n
\n
Note 9 Earnings per Share and Dividends
\n
Basic earnings per share (EPS) is calculated as the ratio of profit for the year attributable
\n
to controlling interests to the weighted average number of shares outstanding during the
\n
period.
\n
Diluted EPS includes the effect of the assumed conversion of potentially dilutive
\n
instruments. The calculation of the denominator used for the computation of basic and
\n
diluted earnings is shown in the table below. The calculation takes account of the weighted
\n
average number of un-vested restricted stock units during the period.
\n
\n
If applicable, profit attributable to ordinary shareholders is adjusted for any after-tax effects
\n
of preference dividends or other similar instruments classified as equity.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
Note 10 Income Tax
\n
Archer is a Bermuda company. In December 2023, Bermuda enacted a corporate income
\n
tax effective for fiscal years beginning on or after 1 January 2025. The Bermuda income
\n
tax rules are designed to align with the OECD\u2019s Global Anti-Base Erosion (GloBE) framework.
\n
The calculation of taxable income begins with financial accounting net income or loss
\n
determined in accordance with the acceptable financial accounting standards used in
\n
preparing the consolidated financial statements of the ultimate parent entity. The statutory
\n
income tax rate is 15%.
\n
Certain subsidiaries operate in other jurisdictions where income taxes are imposed,
\n
including Norway, the United States, Argentina, Brazil and the United Kingdom. For legal
\n
entities operating in taxable jurisdictions, income tax is computed in accordance with the
\n
laws and regulations of the relevant taxing authority. The income tax rates imposed by
\n
these authorities vary. Taxable income may differ from accounting profit because of
\n
temporary differences and items that are taxable or deductible in different periods.
\n
Current tax is the expected tax payable or receivable on the taxable profit or loss for the
\n
year, using tax rates enacted or substantively enacted at the reporting date.
\n
\n
Deferred tax is recognised on temporary differences between the carrying amounts of
\n
assets and liabilities in the financial statements and their corresponding tax bases. Deferred
\n
tax liabilities are generally recognised for all taxable temporary differences. Deferred tax
\n
assets are recognised for all deductible temporary differences and unused tax losses to
\n
the extent that it is probable that taxable profit will be available against which they can be
\n
utilised. Deferred tax assets and liabilities are measured at the tax rates expected to apply
\n
in the period when the asset is realised or the liability is settled, based on rates enacted or
\n
substantively enacted at the reporting date.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
The effect of changes in tax rates or tax laws is recognised in the period in which the change
\n
is substantively enacted.
\n
Uncertain tax positions are accounted for in accordance with IFRIC 23 \u2013 Uncertainty over
\n
Income Tax Treatments. The Group determines whether it is probable that a taxation
\n
authority will accept each uncertain tax treatment. If it is not probable, the Group measures
\n
the related tax liability or asset using either the most likely amount or the expected value
\n
method, depending on which method better predicts the resolution of the uncertainty.
\n
Significant judgement is required in determining income tax provisions, deferred tax assets
\n
and liabilities, and uncertain tax positions. Tax filings are subject to routine audit by the
\n
authorities in most jurisdictions in which we operate. Any adjustments arising from these
\n
audits are recognised in the period in which they are resolved.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
Note 11 Property, plant and equipment
\n
Property, plant and equipment comprise mainly of Rigs deployed in our Land Drilling
\n
business in Latin America. In addition, we have two modular and various well services
\n
equipment and machinery. Property, plant and equipment is stated at historical cost less
\n
depreciation and impairments. Historical cost includes purchase price, any directly
\n
attributable costs of bringing the asset to working condition.
\n
\n
The cost of these assets, less estimated residual value, is depreciated on a straight-line
\n
basis over their estimated remaining economic useful lives. The estimated useful lives of
\n
our fixed assets are as follows:
\n
\u2022 Buildings: 3 \u2013 50 years
\n
\u2022 Drilling and well service equipment: 2 \u2013 30 years
\n
\u2022 Office furniture and fixtures: 3 \u2013 10 years
\n
\u2022 Motor vehicles: 3 \u2013 7 years
\n
We evaluate the useful lives, residual values, and depreciation methods of our property,
\n
plant and equipment on a periodic basis to determine whether events or circumstances
\n
warrant a revision.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Expenditures for replacements or improvements are capitalized when it is probable that
\n
future economic benefits associated with the item will flow to the Company and the cost
\n
can be measured reliably. Costs related to the reclassification of equipment that extend
\n
the asset\u2019s useful life or enhance its future economic benefits are capitalized as part of
\n
property, plant and equipment. The capitalized amounts are amortized on a straight\u2011line
\n
basis over five years, reflecting the period over which the Group expects to benefit from
\n
the reclassified costs. Maintenance and repairs are charged to operating expenses as
\n
incurred.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Fully depreciated assets are retained in property, plant and equipment and accumulated
\n
depreciation until disposal. Upon sale or retirement, the cost of the asset and related
\n
accumulated depreciation are removed from the balance sheet, and any resulting gain or
\n
loss is recognized in the consolidated statement of operations.
\n
The carrying amounts of property, plant and equipment are reviewed for impairment when
\n
events or changes in circumstances indicate that the carrying amount may not be
\n
recoverable. An impairment loss is recognised for the amount by which the asset\u2019s carrying
\n
amount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s
\n
fair value less costs to sell and value in use. For the purposes of assessing impairment,
\n
assets are grouped at the lowest levels for which there are separately identifiable cash flows
\n
(CGUs). Value in use represents the present value of estimated future cash flows expected
\n
to arise from the continuing use of an asset and from its disposal at the end of its useful
\n
life. Non-financial assets, other than goodwill, that have suffered an impairment, are
\n
reviewed for reversal of the impairment whenever events or changes in circumstances
\n
indicate that the impairment loss recognised in prior periods may no longer exist or may
\n
have decreased. For more information about Right-of-use assets, refer to Note 17 - Leases.
\n
Refer to Note 28 for information about capital commitments.
\n
Assets under construction
\n
The carrying value of assets under construction represents the accumulated costs incurred
\n
at the balance sheet date and is included in Property, Plant and Equipment in the
\n
consolidated balance sheet.
\n
Cost components include progress payments, variation orders, construction supervision,
\n
equipment, spare parts, capitalised borrowing costs, costs related to first-time mobilisation,
\n
and commissioning costs. These costs comprise directly attributable expenditures
\n
necessary to bring the asset to the location and condition required for it to be capable of
\n
operating in the manner intended by management.
\n
No charge for depreciation is made until commissioning of the new build has been
\n
completed, and the asset is available for use in its intended operational condition.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
Note 13 Intangible assets
\n
Intangible assets are recorded at historical cost less accumulated amortisation and
\n
accumulated impairment losses.
\n
The cost of intangible assets is generally amortised on a straight-line basis over their
\n
estimated remaining economic useful lives, which range from 2 to 20 years.
\n
\n
We evaluate the useful lives, residual values, and amortisation methods of our intangible
\n
assets at least annually to determine whether events and circumstances warrant a revision.
\n
Amortisation begins when the asset is available for use, that is, when it is in the condition
\n
necessary for it to be capable of operating in the manner intended by management.
\n
\n\n\n\n\n\n\n\n\n
\n
Once fully amortised, the intangible asset\u2019s cost and accumulated amortisation remain in
\n
the accounts until the asset is derecognised, either on disposal or when no future economic
\n
benefits are expected from its use.
\n
Trade names under which we intend to trade for the foreseeable future are considered to
\n
have indefinite useful lives and are not amortised. Such assets are tested for impairment
\n
annually, or more frequently if events or changes in circumstances indicate that the asset
\n
may be impaired.
\n
In circumstances where management decides to phase out the use of a trade name, the
\n
relevant cost is amortised to zero over its remaining estimated useful life.
\n
\n
Research expenditures are generally expensed as incurred. However, development
\n
expenditures are capitalised when all the following conditions are met:
\n
1. The technical feasibility of completing the asset so that it will be available for use or
\n
sale can be demonstrated;
\n
2. The Group intends to complete the asset and use or sell it;
\n
3. The asset is expected to generate probable future economic benefits;
\n
4. Adequate technical, financial, and other resources are available to complete the
\n
development; and
\n
5. The expenditure attributable to the asset during its development can be measured
\n
reliably.
\n
Capitalised development costs are amortised on a straight-line basis over the estimated
\n
useful life of the asset once it is available for use.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
In accordance with IFRS 3 Business Combinations, acquired in-process research and
\n
development that meets the definition of an intangible asset is recognised at fair value at
\n
the acquisition date. After initial recognition, such assets are measured at cost less
\n
accumulated amortisation and impairment losses.
\n
\n\n\n\n\n\n
\n
Trade names acquired through business combinations in 2024 and 2025 are recognised
\n
as intangible assets with indefinite useful lives. Management has assessed that the trade
\n
names have indefinite useful lives as they are well\u2011established brands with strong market
\n
recognition, a history of sustained demand, and no foreseeable limit to the period over
\n
which the trade names are expected to generate net cash inflows. There are no legal,
\n
contractual, regulatory, or competitive factors that limit their useful lives. Accordingly, trade
\n
names are not amortised but are tested annually for impairment, or more frequently if
\n
indicators of impairment exist.
\n
Acquired technology is not amortised until it is available for use or ready for marketing.
\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n
\n
\n
Note 14 Goodwill
\n
We allocate the cost of acquired businesses to the identifiable tangible and intangible assets
\n
and liabilities acquired, with any excess of the purchase consideration over the fair value
\n
of the identifiable net assets recognised as goodwill.
\n
Goodwill is not amortised, but is tested for impairment at least annually, and whenever
\n
events or changes in circumstances indicate that the carrying amount may not be
\n
recoverable.
\n
For the purpose of impairment testing, goodwill is allocated to the cash-generating units
\n
(CGUs) or groups of CGUs that are expected to benefit from the business combination in
\n
which the goodwill arose. Each CGU represents the lowest level within the Group at which
\n
goodwill is monitored for internal management purposes and is not larger than an operating
\n
segment.
\n
Goodwill is tested for impairment by comparing the carrying amount of the CGU, including
\n
the allocated goodwill, to its recoverable amount, which is defined as the higher of fair value
\n
less costs of disposal and value in use.
\n
If the recoverable amount of the CGU is less than its carrying amount, an impairment loss
\n
is recognised immediately in the consolidated statement of operations. Impairment losses
\n
on goodwill are not reversed in subsequent periods.
\n
The recoverable amount of each CGU is generally determined using the income approach,
\n
based on a discounted cash flow model that incorporates management\u2019s best estimates
\n
of future cash flows, terminal values, and discount rates.
\n
Cash flow projections reflect management\u2019s expectations of economic and market
\n
conditions that influence key assumptions such as revenue growth rates, operating margins,
\n
and capital expenditures. The discount rate reflects current market assessments of the time
\n
value of money and the risks specific to the CGU.
\n
There are inherent uncertainties involved in estimating recoverable amounts, including
\n
assumptions regarding future market conditions, growth rates, and discount rates.
\n
\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
Note 15 Impairment of Assets
\n
Accounting policy
\n
An impairment loss is recognised when the carrying amount of an asset or cash-generating
\n
unit exceeds its recoverable amount, which is the higher of fair value less costs of disposal
\n
and value in use. Value in use is calculated by discounting the estimated future cash flows
\n
expected to arise from the asset or CGU using a pre-tax discount rate that reflects current
\n
market assessments of the time value of money and the risks specific to the asset.
\n
When determining fair value less costs of disposal, the Group uses the best available market
\n
evidence, including recent transaction prices for similar assets, broker valuations, or
\n
discounted cash flow analyses where appropriate.
\n
Impairment losses are recognised in the consolidated statement of operations. For assets
\n
other than goodwill, impairment losses are reversed if there has been a change in the
\n
estimates used to determine the recoverable amount, but only to the extent that the asset\u2019s
\n
carrying amount does not exceed the carrying amount that would have been determined
\n
had no impairment loss been recognised.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
Note 16 Investments in Associates and Joint Ventures
\n
Investments in which we have the ability to exercise significant influence, but do not control
\n
or jointly control, are accounted for under the equity method of accounting and are reported
\n
under Investments in associates and joint ventures in the Consolidated Balance Sheet.
\n
Significant influence is generally deemed to exist if the Company has an ownership interest
\n
in the voting stock of the investee between 20 percent and 50 percent, although other
\n
factors such as representation on the investee\u2019s Board of Directors and the nature of
\n
commercial arrangements are considered in determining whether the equity method of
\n
accounting is appropriate.
\n
Investments in which the Company exercises joint control together with one or more parties,
\n
whereby decisions about the relevant activities require the unanimous consent of the parties
\n
sharing control, are also accounted for under the equity method of accounting.
\n
Under this method of accounting, our share of the net earnings or losses of the investee,
\n
together with our share of other comprehensive income, impairment losses, and gains or
\n
losses on sale of such investments, is reported under Share of gains/losses of associates
\n
and joint ventures in the Consolidated Statement of Operations.
\n
We evaluate our equity method investments whenever events or changes in circumstances
\n
indicate that the carrying amounts of such investments may be impaired. If the recoverable
\n
amount of an equity method investment (being the highest of its fair value less costs of
\n
disposal and its value in use) is less than its carrying amount, an impairment loss is recorded
\n
in earnings in the current period in accordance with IAS 36 \u2013 Impairment of Assets. If the
\n
recoverable amount subsequently increases, the impairment loss is reversed in the period
\n
of recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
Note 19 Cash and Cash Equivalents
\n
Cash and cash equivalents
\n
Cash and cash equivalents consist of cash, demand deposits and highly liquid financial
\n
instruments purchased with original maturity of three months or less and exclude restricted
\n
cash.
\n
\n\n\n\n\n
\n
Restricted cash
\n
Restricted cash consists mainly of bank deposits arising from advance employee tax
\n
withholdings.
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
Note 20 Trade and other receivables
\n
Trade and other receivables are recorded in the balance sheet at their full amount, less a
\n
loss allowance for expected credit losses. The Group has applied the practical expedient
\n
permitted by IFRS 9 and initially measures trade receivables at the transaction price
\n
determined in accordance with IFRS 15.
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
Note 25 Leasing
\n
The Group leases office space, equipment, and operating assets at various locations. At
\n
the commencement date of a lease, we recognise a right-of-use (ROU) asset and a
\n
corresponding lease liability for all leases, except for those with a lease term of twelve
\n
months or less or for low-value assets, which are expensed on a straight-line basis over
\n
the lease term. The leases have remaining lease terms of 1 to 13 years at 31 December
\n
2025. Some operating leases include options to extend the leases for up to 20 years.
\n
The lease liability is initially measured at the present value of lease payments that are not
\n
paid at that date, discounted using the interest rate implicit in the lease, or if that rate cannot
\n
be readily determined, the Group\u2019s incremental borrowing rate. Each lease payment is
\n
allocated between a reduction of the lease liability and a finance cost, using the effective
\n
interest method to produce a constant periodic rate of interest on the remaining balance
\n
of the liability.
\n
The right-of-use asset is initially measured at cost, which comprises the initial amount of
\n
the lease liability, any lease payments made at or before the commencement date, and any
\n
initial direct costs, less lease incentives received. The ROU asset is subsequently
\n
depreciated on a straight-line basis over the shortest of the asset\u2019s estimated useful life
\n
and the lease term. Depreciation of right-of-use assets is presented within Depreciation
\n
and amortisation expense in the Consolidated Statement of Operations. Interest expense
\n
on the lease liability is recognised in the Consolidated Statement of Operations over the
\n
lease term.
\n
Details of leased assets are reported in note 9.
\n
For the capitalisation of right of use assets, we have calculated an incremental borrowing
\n
rate, or IBR, for discounting each lease\u2019s cash-flows to arrive at an initial value for the lease
\n
liability and right of use asset. The IBR is calculated as a function of the following elements/
\n
considerations;
\n
\u2022 Base rate \u2013 generally the inter-bank lending rate in the relevant jurisdictions,
\n
\u2022 Credit spread \u2013 we estimate the effect of the lessee credit worthiness
\n
\u2022 Country risk premium
\n
\u2022 Inflation differential
\n
\u2022 Contract term
\n
\u2022 Security or collateral provided in the lease contract.
\n
Significant judgment is required in estimating some of these elements. We apply a consistent
\n
methodology in estimating IBR for each lease.
\n
\n\n\n
\n\n\n\n
\n\n
We have elected not to recognise the right of use of assets and lease liability for short term
\n
leases.
\n
\n\n\n
\n\n\n\n
\n\n
Accounting policy defined contribution plans For defined contribution plans, the Group
\n
pays contributions to publicly or privately administered pension insurance plans on a
\n
mandatory, contractual basis. The Group has no further payment obligations once the
\n
contributions have been paid. The contributions are recognised as employee benefit
\n
expense when they are due.
\n
\n\n\n
\n\n\n\n
\n\n
Note 34 Share-based payments
\n
Restricted Stock units
\n
The Board has from time to time granted restricted stock units, or RSUs, to members of
\n
Archer\u2019s management team. The RSUs typically vest over three to four years after the grant
\n
date. RSU awards do not receive dividends or carry voting rights during the performance
\n
period. The fair value of the restricted stock award is the quoted market price of Archer\u2019s
\n
stock on the date of grant.
\n
\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag580": {
"value": "\nBasis of presentation
\n
\n\n
The financial statements of the Group for the year ended 31 December 2025 are presented
\n
in accordance with IFRS\u00ae Accounting Standards as adopted by the EU.
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
The amounts are
\n
presented in United States Dollars, USD, or $ rounded to the nearest a million, unless
\n
otherwise stated.
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
We present our financial statements on a continuing business basis and
\nseparately present discontinued operations. The accounting policies set out below have
\nbeen applied consistently to all periods in these consolidated financial statements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag581": {
"value": "\nThe financial statements of the Group for the year ended 31 December 2025 are presented
\nin accordance with IFRS\u00ae Accounting Standards as adopted by the EU.
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag582": {
"value": "\nThe amounts are
\npresented in United States Dollars, USD, or $ rounded to the nearest a million, unless
\notherwise stated.
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag583": {
"value": "\n
\n\n
Basis of consolidation
\n
Investments in companies in which we directly or indirectly hold more than 50% of the
\n
voting control are generally consolidated in our financial statements. Subsidiaries are fully
\n
consolidated from the date on which control is transferred to the Group. When necessary,
\n
adjustments are made to the financial statements of subsidiaries to bring their accounting
\n
policies in line with the Group\u2019s accounting policies.
\n
Entities in which we do not have a controlling interest but over which we have significant
\n
influence are accounted for under the equity method of accounting. Our share of after-tax
\n
earnings of equity method investees is reported under Share of results of unconsolidated
\n
associates. A list of all significant consolidated subsidiaries is disclosed in the Note 37
\n
Subsidiaries. Intercompany transactions and internal sales have been eliminated through
\n
consolidation.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag584": {
"value": "\nBasis of consolidation
\nInvestments in companies in which we directly or indirectly hold more than 50% of the
\nvoting control are generally consolidated in our financial statements. Subsidiaries are fully
\nconsolidated from the date on which control is transferred to the Group. When necessary,
\nadjustments are made to the financial statements of subsidiaries to bring their accounting
\npolicies in line with the Group\u2019s accounting policies.
\nEntities in which we do not have a controlling interest but over which we have significant
\ninfluence are accounted for under the equity method of accounting. Our share of after-tax
\nearnings of equity method investees is reported under Share of results of unconsolidated
\nassociates. A list of all significant consolidated subsidiaries is disclosed in the Note 37
\nSubsidiaries. Intercompany transactions and internal sales have been eliminated through
\nconsolidation.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag585": {
"value": "\nReclassifications
\nCertain amounts in the prior years consolidated financial statements may be reclassified
\nwhen necessary to conform to the current year\u2019s presentation.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag566": {
"value": "\nUse of estimates
\nThe preparation of financial statements in conformity with IFRS requires management to
\nmake estimates and assumptions that affect the reported amounts of assets and liabilities
\nand disclosure of contingent assets and liabilities at the date of the financial statements,
\nas well as the reported amounts of revenues and expenses during the reporting period.
\nFuture events and their effects cannot be predicted with certainty. Accordingly, our
\naccounting estimates require the exercise of judgement. While management believes the
\nestimates and assumptions used in the preparation of the consolidated financial statements
\nare appropriate, actual results could differ materially from those estimates. Estimates are
\nused for, but are not limited to, determining the following: allowance for doubtful accounts,
\nrecoverability of long-lived assets, goodwill and intangibles, useful lives used in depreciation
\nand amortization, income taxes and valuation allowances and purchase price allocations.
\nThe accounting estimates used in the preparation of the consolidated financial statements
\nmay change as new events occur, as more experience is acquired, as additional information
\nis obtained and as our operating environment changes.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\nAccounting judgement and key sources of estimation uncertainty
\nEstimates and judgments are continuously evaluated and are based on historical experience
\nand other factors, including expectations of future events that are considered reasonable
\nunder the circumstances.
\nIn preparing the consolidated financial statements, the Group is required to make estimates
\nand assumptions concerning the future. These estimates reflect the Group\u2019s underlying
\nbusiness activities, its current and projected profitability, as well as expectations regarding
\nexternal factors such as interest rates, foreign exchange rates, and other variables outside
\nthe Group\u2019s control. Because estimates and assumptions involve inherent uncertainty,
\nactual results may differ from those estimates.
\n\nThe estimates and assumptions that involve a significant risk of resulting in a material
\nadjustment to the carrying amounts of assets and liabilities within the next financial year
\nare presented below.
\nRevenue recognition - Note 4 Revenue
\nRecognition of deferred tax assets - Note 10 Income Tax
\nEvaluation of indicators of impairment Note 15 Impairment of Assets
\nFair value of acquired assets - Note 17 Business Acquisitions and Disposals
\nProvisions and contingent liabilities - Note 28 Provisions and Contingent Liabilities
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag587": {
"value": "\nForeign currencies
\nFor subsidiaries that have functional currencies other than the USD, the statements of
\noperations are translated using the average exchange rate for the month and the assets
\nand liabilities are translated using the year-end exchange rate. Foreign currency translation
\ngains or losses are recorded as a separate component of other comprehensive income in
\nshareholders\u2019 equity. Transactions in foreign currencies during the year are translated into
\nthe functional currency of the respective entity at the rates of exchange in effect on the
\ndate of the transaction. Foreign currency assets and liabilities are translated using rates of
\nexchange at the balance sheet date. Foreign currency transaction gains or losses are
\nincluded in the consolidated statements of operations.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag588": {
"value": "\nInventories
\nInventories are stated at the lowest of cost and net realisable value. Cost is determined
\nusing the first-in, first-out (FIFO) method and includes all costs of purchase, conversion,
\nand other costs incurred in bringing the inventories to their present location and condition.
\nNet realisable value represents the estimated selling price in the ordinary course of business,
\nless estimated costs of completion and costs necessary to make the sale. Inventory
\nbalances are regularly reviewed for excess quantities and obsolescence by analysing
\ndemand, inventory levels, and sales trends. When necessary, inventories are written down
\nto their net realisable value. If circumstances that previously caused inventories to be written
\ndown no longer exist, or if there is clear evidence of an increase in net realisable value, the
\nwrite-down is reversed in the period of recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag589": {
"value": "\nLoan-related transaction costs, including debt arrangement and structuring fees, incurred
\non the initial arrangement of borrowings are capitalised and amortised over the term of the
\nrelated loan using the effective interest method. Amortisation of such costs is included in
\ninterest expense in the consolidated statement of operations.
\nSubsequent costs associated with existing borrowings, such as commitment fees on
\nundrawn facilities, are recognised in interest expense in the period in which they are incurred.
\nUnamortised transaction costs are presented as a deduction from the carrying amount of
\nthe associated financial liability in the consolidated balance sheet.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag590": {
"value": "\nParties are considered to be related when one party has the ability, directly or indirectly, to
\ncontrol, jointly control, or exercise significant influence over the other party in making
\nfinancial and operating decisions.
\nParties are also related if they are subject to common control or common significant
\ninfluence, or if they are members of the same group. Related parties include the parent
\ncompany, subsidiaries, associates, joint ventures, key management personnel, and post-
\nemployment benefit plans for the benefit of employees of the Group or its related entities.
\nTransactions with related parties are carried out on an arm\u2019s-length basis and are disclosed
\nin Note 33 Related Parties to the consolidated financial statements.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag586": {
"value": "\nThe estimates and assumptions that involve a significant risk of resulting in a material\nadjustment to the carrying amounts of assets and liabilities within the next financial year\nare presented below.\nRevenue recognition - Note 4 Revenue\nRecognition of deferred tax assets - Note 10 Income Tax\nEvaluation of indicators of impairment Note 15 Impairment of Assets\nFair value of acquired assets - Note 17 Business Acquisitions and Disposals\nProvisions and contingent liabilities - Note 28 Provisions and Contingent Liabilities\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag591": {
"value": "\n
\n\n
New and Amended Standards and Interpretations Not Yet Adopted
\n
New or amended International Financial Reporting Standards (IFRS) and IFRIC
\n
Interpretations that became effective on 1 January 2025 did not have a material impact on
\n
the Group\u2019s consolidated financial statements.
\n
Certain new standards and amendments have been issued but are not yet effective for the
\n
year ended 31 December 2025, and the Group has not early adopted them. These include,
\n
among others:
\n
\u2022 Amendments to IFRS 10 and IAS 28 \u2013 Sale or Contribution of Assets between an Investor
\n
and its Associate or Joint Venture
\n
\u2022 Amendments to IAS 1 \u2013 Classification of Liabilities as Current or Non-current
\n
\u2022 IFRS 18 \u2013 Presentation and Disclosure in Financial Statements, issued in April 2024,
\n
which will replace IAS 1 and is effective for annual reporting periods beginning on or
\n
after 1 January 2027
\n
The Group is currently evaluating the impact of these standards and amendments and does
\n
not expect them to have a material effect on its consolidated financial statements upon
\n
adoption.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag592": {
"value": "\nNew and Amended Standards and Interpretations Not Yet Adopted
\nNew or amended International Financial Reporting Standards (IFRS) and IFRIC
\nInterpretations that became effective on 1 January 2025 did not have a material impact on
\nthe Group\u2019s consolidated financial statements.
\nCertain new standards and amendments have been issued but are not yet effective for the
\nyear ended 31 December 2025, and the Group has not early adopted them. These include,
\namong others:
\n\u2022 Amendments to IFRS 10 and IAS 28 \u2013 Sale or Contribution of Assets between an Investor
\nand its Associate or Joint Venture
\n\u2022 Amendments to IAS 1 \u2013 Classification of Liabilities as Current or Non-current
\n\u2022 IFRS 18 \u2013 Presentation and Disclosure in Financial Statements, issued in April 2024,
\nwhich will replace IAS 1 and is effective for annual reporting periods beginning on or
\nafter 1 January 2027
\nThe Group is currently evaluating the impact of these standards and amendments and does
\nnot expect them to have a material effect on its consolidated financial statements upon
\nadoption.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag568": {
"value": "\nNote 3 First time adoption of IFRS
\nFirst-time adoption of IFRS
\nThese financial statements for the year ending 31 December 2025, represent the first annual
\nfinancial statements that the Company has prepared in accordance with IFRS\u00ae Accounting
\nStandards as adopted by the EU (IFRS). Accordingly, the Company has prepared financial
\nstatements that comply with IFRS applicable as of 31 December 2025, together with
\ncomparative information for the year ended 31 December 2024, as described in the basis
\nof preparation (Note 2).
\nIn preparing these financial statements, the Company prepared an opening statement of
\nfinancial position as of 1 January 2024, which is the Company\u2019s date of transition to IFRS,
\nin accordance with IFRS 1 First-time Adoption of International Financial Reporting
\nStandards. This note explains the key adjustments made by the Company in converting
\nfrom its former accounting framework, accounting principles generally accepted in the
\nUnited States (\u201cU.S. GAAP\u201d), to IFRS as of 1 January 2024, and for the year ended 31
\nDecember 2024.
\nExemptions applied
\nIFRS 1 permits certain optional exemptions from retrospective application of IFRS
\nrequirements. The Company has applied the following exemptions in its transition to IFRS:
\n\u2022 Business combinations: The Company has elected not to apply IFRS 3 Business
\nCombinations retrospectively to business combinations that occurred prior to the
\ntransition date.
\n\u2022 Cumulative translation differences: The Company has elected to reset cumulative
\ntranslation differences to zero at the date of transition to IFRS.
\n\u2022 Borrowing costs: The Company has elected not to restate borrowing costs capitalized
\nunder U.S. GAAP prior to the transition date.
\nEffect of transition to IFRS
\nThe principal differences arising from the transition from U.S. GAAP to IFRS are summarized
\nbelow:
\n\u2022 Revenue recognition for reimbursable items
\nUnder U.S. GAAP, reimbursable revenue related to procurement activities was
\nrecognized on a gross basis, with Archer assessed as the principal in accordance with
\nSEC guidance that supported gross presentation when reimbursable costs were integral
\nto contract performance. IFRS 15 Revenue from Contracts with Customers requires the
\nassessment to focus on whether the entity controls the specified goods or services
\nbefore transferring them to the customer. For certain contracts, Archer has concluded
\nthat it acts as an agent under IFRS 15, resulting in reimbursable revenue and associated
\ncosts being presented on a net basis.
\n\u2022 Lease accounting
\nUnder U.S. GAAP, leases were classified as either operating leases or finance leases.
\nRent expense for operating leases was recognized on a straight-line basis and presented
\nwithin a single expense line item. Under IFRS 16 Leases, the Company applies a single
\nlessee accounting model. Right-of-use assets and lease liabilities are recognized for
\nsubstantially all leases, with depreciation of right-of-use assets and interest expense
\non lease liabilities presented separately in the statement of profit or loss. This results in
\na different classification pattern and timing of expenses compared to U.S. GAAP.
\n\u2022 Capitalization of development costs
\nUnder U.S. GAAP, both research and development expenditures are expensed as
\nincurred, except for certain software development activities. Capitalization of
\ndevelopment costs is generally not permitted. Under IFRS, IAS 38 Intangible Assets
\ndistinguishes between research and development phases. Research expenditures are
\nexpensed as incurred, while development expenditures are capitalized when specific
\ncriteria are met, including technical feasibility, intention and ability to complete the asset,
\nand the ability to generate probable future economic benefits. During 2024 and 2025,
\nArcher initiated several development projects, primarily within the Well Services division.
\nAs part of the IFRS transition, these projects were assessed in accordance with IAS 38.
\nBased on this assessment, the Company identified development activities meeting the
\ncapitalization criteria, and the related expenditures have been capitalized as intangible
\nassets under IFRS.
\nReconciliation
\nThe impact of the transition to IFRS on the Consolidated Statements of Financial Position
\nas of 1 January 2024, and 31 December 2024, is presented below. In addition, reconciliation
\nof the Consolidated Statement of Profit or Loss, Consolidated Statement of Comprehensive
\nIncome, and Consolidated Statement of Cash Flows for the year ended 31 December 2024,
\nare provided in the sections that follow. U.S. GAAP figures presented in the reconciliation
\nare derived from the Company\u2019s Annual Report for the year ended 31 December 2024.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of Consolidated Balance Sheet as at 1 January 2024
\n\n
\n\n\n | \n | \nU.S. GAAP | \nIFRS impact | \nIFRS | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD million) | \nIFRS | \n(Audited) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| ASSETS | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property plant and equipment | \n | \n313.1 | \n\u2014 | \n313.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Right of use assets | \n | \n34.4 | \n\u2014 | \n34.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill | \n | \n156.0 | \n\u2014 | \n156.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Intangible assets | \n | \n2.8 | \n\u2014 | \n2.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax asset | \n | \n20.8 | \n\u2014 | \n20.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Investment in associates | \n | \n12.3 | \n\u2014 | \n12.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other current assets | \n | \n11.6 | \n\u2014 | \n11.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total noncurrent assets | \n | \n550.9 | \n\u2014 | \n550.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n | \n52.1 | \n\u2014 | \n52.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Restricted cash | \n | \n3.5 | \n\u2014 | \n3.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n | \n183.8 | \n\u2014 | \n183.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Inventories | \n | \n75.0 | \n\u2014 | \n75.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other current assets | \n | \n40.4 | \n\u2014 | \n40.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total current assets | \n | \n354.8 | \n\u2014 | \n354.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total assets | \n | \n905.7 | \n\u2014 | \n905.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Reconciliation of Consolidated Balance Sheet as at 1 January 2024
\n\n
\n\n\n | \n | \nU.S. GAAP | \nIFRS impact | \nIFRS | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD million) | \nIFRS | \n(Audited) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| LIABILITIES AND SHAREHOLDERS\u2019 EQUITY | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Long-term interest-bearing debt | \n402.5 | \n\u2014 | \n402.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Lease liabilities (non-current) | \n22.9 | \n\u2014 | \n22.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax | \n | \n0.3 | \n\u2014 | \n0.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other non-current liabilities | \n6.3 | \n\u2014 | \n6.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total non-current liabilities | \n432.0 | \n\u2014 | \n432.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current portion of interest-bearing debt | \n17.6 | \n\u2014 | \n17.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Lease liabilities (current) | \n11.4 | \n\u2014 | \n11.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade payables | \n | \n75.5 | \n\u2014 | \n75.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income tax | \n1 | \n\u2014 | \n1.8 | \n1.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other current liabilities | \n1 | \n173.0 | \n(1.8) | \n171.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total current liabilities | \n277.5 | \n\u2014 | \n277.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Shareholders\u2019 equity | \n | \n196.2 | \n\u2014 | \n196.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-controlling interest in consolidated | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| subsidiary | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Equity | \n | \n196.2 | \n\u2014 | \n196.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total liabilities and shareholders\u2019 | \n905.7 | \n | \n905.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| equity | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
IFRS adjustments of Consolidated Statement of Financial Position as at 1 January, 2024
\n1. In accordance with IAS 1 Presentation of Financial Statements and IAS 12 Income Taxes, $1.8 million in taxes payable has been reclassified from \u201cOther current liabilities\u201d and presented as a separate
\nline item in the IFRS statement of financial position. IAS 12 requires current tax assets and liabilities to be presented separately from other items, resulting in taxes payable being shown as its own line
\nitem under IFRS.
\n2. Some financial statements line items have been updated under IFRS to the standard terms.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of Consolidated Balance Sheet as at 31 December 2024
\n\n
\n\n\n | \n | \nU.S. GAAP | \nIFRS impact | \nIFRS | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD million) | \nIFRS | \n(Audited) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| ASSETS | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property plant and equipment, net | \n342.6 | \n\u2014 | \n342.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Right of use assets | \n26.4 | \n\u2014 | \n26.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill | \n | \n174.0 | \n\u2014 | \n174.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Intangible assets | \n1 | \n19.3 | \n4.0 | \n23.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax asset | \n24.2 | \n\u2014 | \n24.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other current assets | \n13.1 | \n\u2014 | \n13.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total noncurrent assets | \n599.6 | \n4.0 | \n603.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cash and cash equivalents | \n76.8 | \n\u2014 | \n76.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Restricted cash | \n | \n3.8 | \n\u2014 | \n3.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n187.8 | \n\u2014 | \n187.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Inventories | \n | \n75.8 | \n\u2014 | \n75.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other current assets | \n57.0 | \n\u2014 | \n57.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total current assets | \n401.3 | \n\u2014 | \n401.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total assets | \n | \n1,000.8 | \n4.0 | \n1,004.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Reconciliation of Consolidated Balance Sheet as at 31 December 2024
\n\n
\n\n\n | \n | \nU.S. GAAP | \nIFRS impact | \nIFRS | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD million) | \nIFRS | \n(Audited) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| LIABILITIES AND SHAREHOLDERS\u2019 EQUITY | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Long-term interest-bearing debt | \n418.1 | \n\u2014 | \n418.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Lease liabilities (non-current) | \n15.6 | \n\u2014 | \n15.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax | \n | \n0.3 | \n\u2014 | \n0.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other non-current liabilities | \n6.4 | \n\u2014 | \n6.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total non-current liabilities | \n440.3 | \n\u2014 | \n440.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current portion of interest-bearing debt | \n23.2 | \n\u2014 | \n23.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Lease liabilities (current) | \n10.9 | \n\u2014 | \n10.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Trade payables | \n | \n112.2 | \n\u2014 | \n112.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income tax | \n2 | \n\u2014 | \n9.5 | \n9.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other current liabilities | \n2 | \n191.3 | \n(9.5) | \n181.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total current liabilities | \n337.7 | \n\u2014 | \n337.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Shareholders\u2019 equity | \n1 | \n207.5 | \n4.0 | \n211.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-controlling interest in consolidated | \n15.4 | \n\u2014 | \n15.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| subsidiary | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Equity | \n | \n222.9 | \n4.0 | \n226.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total liabilities and shareholders\u2019 | \n1,000.8 | \n4.0 | \n1,004.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| equity | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
IFRS adjustments of Consolidated Statement of Financial Position as at 31 December, 2024
\n1. Under U.S. GAAP, both research and development expenditures has been expensed as incurred. Under IFRS we have capitalized $4.0 related to development activities that meet the recognition criteria
\nfor capitalization under IFRS. Equity has been increased accordantly.
\n2. In accordance with IAS 1 Presentation of Financial Statements and IAS 12 Income Taxes, $9.5 million in taxes payable has been reclassified from \u201cOther current liabilities\u201d and presented as a separate
\nline item in the IFRS statement of financial position. IAS 12 requires current tax assets and liabilities to be presented separately from other items, resulting in taxes payable being shown as its own line
\nitem under IFRS.
\n3. Some financial statements line items have been updated under IFRS to the standard terms.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of Consolidated Statements of Operations for the year ended 31 December 2024
\n\n
\n\n\n| (In USD million) | \n | \nU.S. GAAP | \nIFRS impact | \nIFRS | \n\n\n
\n\n| Revenues | \nIFRS | \n(Audited) | \n | \n | \n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n
\n\n| Operating revenues | \n1 | \n1,096.9 | \n(1,096.9) | \n\u2014 | \n\n\n
\n\n| Reimbursable revenues | \n1 | \n203.7 | \n(203.7) | \n\u2014 | \n\n\n
\n\n| Revenues | \n1,2 | \n\u2014 | \n1,112.5 | \n1,112.5 | \n\n\n
\n\n| Other income | \n3,10 | \n\u2014 | \n3.2 | \n3.2 | \n\n\n
\n\n| Total revenues and other income | \n1,300.7 | \n(184.9) | \n1,115.6 | \n\n\n
\n\n| Expenses | \n | \n | \n | \n | \n\n\n
\n\n| Operating expenses | \n4 | \n915.6 | \n(915.6) | \n\u2014 | \n\n\n
\n\n| Reimbursable expenses | \n2,6 | \n197.1 | \n(197.1) | \n\u2014 | \n\n\n
\n\n| Operating lease costs | \n7 | \n10.5 | \n(10.5) | \n\u2014 | \n\n\n
\n\n| Depreciation and | \n7 | \n61.6 | \n8.5 | \n70.1 | \n\n\n
\n\n| amortization | \n | \n | \n | \n | \n\n\n
\n\n| (Gain)/loss on sale of assets | \n3 | \n(0.8) | \n0.8 | \n\u2014 | \n\n\n
\n\n| Impairment charges | \n | \n2.7 | \n\u2014 | \n2.7 | \n\n\n
\n\n| General and administrative | \n8 | \n42.6 | \n(42.6) | \n\u2014 | \n\n\n
\n\n| expenses | \n | \n | \n | \n | \n\n\n
\n\n| Personnel expenses | \n4 | \n\u2014 | \n537.5 | \n537.5 | \n\n\n
\n\n| Other operating expenses | \n4,5,6,7,8 | \n\u2014 | \n424.4 | \n424.5 | \n\n\n
\n\n| Total expenses | \n | \n1,229.4 | \n(194.7) | \n 1,034.8 | \n\n\n
\n\n| Operating income | \n | \n71.3 | \n9.7 | \n80.9 | \n\n\n
\n\n| Gain on Bargain Purchase | \n10 | \n0.1 | \n(0.1) | \n\u2014 | \n\n\n
\n\n| Gain on equity method | \n10 | \n2.3 | \n(2.3) | \n\u2014 | \n\n\n
\n\n| investment | \n | \n | \n | \n | \n\n\n
\n\n\n\n\n\n
\n\n\n
Reconciliation of Consolidated Statements of Operations for the year ended 31 December 2024
\n\n
\n\n\n| (In USD million) | \n | \nU.S. GAAP | \nIFRS impact | \nIFRS | \n\n\n
\n\n | \nIFRS | \n(Audited) | \n | \n | \n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n
\n\n| Financial items | \n | \n | \n | \n | \n\n\n
\n\n| Interest income | \n9 | \n4.1 | \n(4.1) | \n\u2014 | \n\n\n
\n\n| Interest expenses | \n9 | \n(62.7) | \n62.7 | \n\u2014 | \n\n\n
\n\n| Net interest expense | \n6, 9 | \n\u2014 | \n(62.0) | \n(62.0) | \n\n\n
\n\n| Share of results in | \n | \n2.1 | \n\u2014 | \n2.1 | \n\n\n
\n\n| associated companies | \n | \n | \n | \n | \n\n\n
\n\n| Other financial items | \n | \n(27.8) | \n\u2014 | \n(27.8) | \n\n\n
\n\n| Total financial items | \n | \n(84.2) | \n(3.4) | \n(87.7) | \n\n\n
\n\n| Profit (loss) from | \n | \n(10.6) | \n4.0 | \n(6.6) | \n\n\n
\n\n| continuing operations | \n | \n | \n | \n | \n\n\n
\n\n| before income taxes | \n | \n | \n | \n | \n\n\n
\n\n| Income tax benefit | \n | \n(14.6) | \n\u2014 | \n(14.6) | \n\n\n
\n\n| (expense) | \n | \n | \n | \n | \n\n\n
\n\n| Profit (loss) from | \n | \n(25.2) | \n4.0 | \n(21.2) | \n\n\n
\n\n| continuing operations | \n | \n | \n | \n | \n\n\n
\n\n| - Attributable to non- | \n | \n0.4 | \n\u2014 | \n0.4 | \n\n\n
\n\n| controlling interests | \n | \n | \n | \n | \n\n\n
\n\n| - Attributable to controlling | \n | \n(25.6) | \n4.0 | \n(21.6) | \n\n\n
\n\n| interest | \n | \n | \n | \n | \n\n\n
\n\n| Gain (loss) per share - basic | \n | \n(0.37) | \n0.06 | \n(0.31) | \n\n\n
\n\n| Gain (loss) per share - | \n | \n(0.37) | \n0.06 | \n(0.31) | \n\n\n
\n\n| diluted | \n | \n | \n | \n | \n\n\n
\n\n| Weighted average number | \n | \n | \n | \n | \n\n\n
\n\n| of shares outstanding | \n | \n | \n | \n | \n\n\n
\n\n| (million) | \n | \n | \n | \n | \n\n\n
\n\n| Basic | \n | \n68.6 | \n\u2014 | \n68.6 | \n\n\n
\n\n| Diluted | \n | \n68.6 | \n\u2014 | \n68.6 | \n\n\n
\n\n\n\n\n\n
\n\n\n
\n\n\nIFRS adjustments to the Consolidated Statement of Profit or Loss for the year ended 31 December 2024
\n1. Under IFRS, the Company has updated its revenue presentation. The previous U.S. GAAP line items \u201cRevenue\u201d ($1,096.9 million) and \u201cReimbursable revenue\u201d ($203.7 million) have been combined and
\nrenamed \u201cRevenues\u201d to align with IFRS terminology and presentation requirements.
\n2. Under U.S. GAAP, reimbursable procurement revenue and related costs were presented on a gross basis. Under, IFRS 15, Archer assessed that it acts as an agent for certain contracts, as it does not
\ncontrol the specified goods before they are transferred to the customer. As a result, these reimbursable items are presented net, reducing revenue and cost of sales by $188.1 million.
\n3. Gains on disposal of property, plant and equipment amounting to $0.8 million have been reclassified from \u201c(Gain)/loss on sale of assets\u201d under U.S. GAAP to \u201cOther income\u201d under IFRS. This reflects an
\nIFRS presentation requirement and has no impact on total profit or equity.
\n4. Of the total $915.6 million reported as operating expenses, $537.5 million has been reclassified to \"Personnel expenses\", while the remaining $392.3 million is presented as \"Other operating expenses\".
\nThis reclassification is made in accordance with IAS 1, which requires expenses to be presented by nature and aligned with their underlying characteristics.
\n5. Under U.S. GAAP, both research and development expenditures has been expensed as incurred. Under IFRS we have capitalized $4.0 related to development activities that meet the recognition criteria
\nfor capitalization under IFRS. Operating expenses has been reduces accordingly.
\n6. An amount of $9 million, previously presented as \u201cReimbursable expenses\u201d under U.S. GAAP, is reclassified to \u201cOther operating expenses\u201d under IFRS.
\n7. Under U.S. GAAP, operating lease cost of $10.5 million was recognized as a single operating expense. Under IFRS, this amount has been reclassified into \u201cDepreciation and amortization\u201d ($8.5 million)
\nand \u201cInterest expense\u201d ($3.4 million) in accordance with the IFRS 16 lessee model.
\n8. Under U.S. GAAP, $42.6 million presented as \u201cGeneral and administrative expenses\u201d have been reclassified to \u201cOther operating expenses\u201d under IFRS to align with the Company\u2019s nature\u2011based expense
\npresentation.
\n9. Interest income and interest expenses are shown net.
\n10. In accordance with U.S. GAAP, \u201cGain on Bargain Purchase\u201d and \u201cGain on Equity Method Investments\u201d are presented as separate line items. Under IFRS, these amounts are classified and presented as
\npart of \"Other income\".
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of Other Comprehensive Loss 31 December 2024
\n\n
\n\n\n | \n | \nU.S. GAAP | \nIFRS | \nIFRS | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nimpact | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD million) | \nIFRS | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Profit (loss) | \n1 | \n(25.2) | \n4.0 | \n(21.2) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other comprehensive (loss)/income | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation differences | \n | \n(14.2) | \n\u2014 | \n(14.2) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Release AOCI relating to | \n | \n(0.6) | \n\u2014 | \n(0.6) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Comtrac investment | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total other comprehensive | \n | \n(14.8) | \n\u2014 | \n(14.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| income (loss) | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total comprehensive income | \n | \n(40.0) | \n4.0 | \n(36.0) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (loss) | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Attributable to: | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-controlling interest | \n | \n0.3 | \n\u2014 | \n0.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Controlling interest | \n | \n(40.4) | \n4.0 | \n(36.3) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
1. Refer to the section above detailing the IFRS adjustments to the Consolidated Statement
\nof Profit or Loss for the year ended December 31, 2024.
\nReconciliation of Accumulated Other Comprehensive Loss 31 December 2024
\n\n
\n\n\n | \n | \nU.S. GAAP | \nIFRS | \nIFRS | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nimpact | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD million) | \nIFRS | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated Other | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Comprehensive Income (Loss) | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation differences | \n1 | \n(5.6) | \n5.6 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Comprehensive Income | \n | \n0.6 | \n\u2014 | \n0.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance at 1 January, 2024 | \n | \n(5.0) | \n5.6 | \n0.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Currency translation differences | \n1 | \n(19.8) | \n5.6 | \n(14.2) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Comprehensive Income | \n | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance at 31 December, 2024 | \n | \n(19.8) | \n5.6 | \n(14.2) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
1. The Company has elected to reset cumulative translation differences to zero at the date
\nof transition to IFRS. $5.6 million has been reclassified from \"Accumulated Other
\nComprehensive Loss\" to \"Accumulated Deficit\".
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nReconciliation of Consolidated Statement of Cash Flows for the year ended 31 December 2024
\n\n
\n\n\n| (In USD millions) | \n | \nU.S. | \nIFRS | \nIFRS | \n\n\n\n\n
\n\n | \n | \nGAAP | \nimpact | \n | \n\n\n\n\n
\n\n| Cash Flows from Operating Activities | \nIFRS | \n(Audited) | \n | \n | \n\n\n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n\n\n
\n\n| Net (loss)/profit from continuing operations | \n1 | \n(25.2) | \n25.2 | \n\u2014 | \n\n\n\n\n
\n\n| Profit (loss) before income taxes | \n1,2 | \n\u2014 | \n(6.6) | \n(6.6) | \n\n\n\n\n
\n\n| Taxes paid | \n1 | \n\u2014 | \n(8.7) | \n(8.7) | \n\n\n\n\n
\n\n| Depreciation and amortisation | \n3 | \n61.1 | \n8.5 | \n69.6 | \n\n\n\n\n
\n\n| Impairment of fixed assets | \n | \n2.7 | \n\u2014 | \n2.7 | \n\n\n\n\n
\n\n| Share-based compensation expenses | \n | \n0.4 | \n\u2014 | \n0.4 | \n\n\n\n\n
\n\n| Loss/(gain) on asset disposals | \n | \n(0.2) | \n\u2014 | \n(0.2) | \n\n\n\n\n
\n\n| Share of result from associated companies | \n | \n(2.1) | \n\u2014 | \n(2.1) | \n\n\n\n\n
\n\n| Amortisation of loan fees | \n4 | \n6.8 | \n(6.8) | \n\u2014 | \n\n\n\n\n
\n\n| Change in deferred and accrued taxes | \n1 | \n5.9 | \n(5.9) | \n\u2014 | \n\n\n\n\n
\n\n| Effect of exchange rate movements borrowing | \n5 | \n | \n17.6 | \n17.6 | \n\n\n\n\n
\n\n| Interest expensed | \n4 | \n\u2014 | \n66.1 | \n66.1 | \n\n\n\n\n
\n\n| Loss/(gain) on sale/purchase of business | \n | \n(2.4) | \n\u2014 | \n(2.4) | \n\n\n\n\n
\n\n| Decrease/(increase) in accounts receivable and | \n | \n15.2 | \n\u2014 | \n15.2 | \n\n\n\n\n
\n\n| other current assets | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Decrease/(increase) in inventories | \n | \n6.2 | \n\u2014 | \n6.2 | \n\n\n\n\n
\n\n| (Decrease)/increase in accounts payable and | \n4 | \n32.3 | \n(1.2) | \n31.1 | \n\n\n\n\n
\n\n| other current liabilities | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Change in other operating assets and liabilities | \n5 | \n1.5 | \n(16.2) | \n(14.7) | \n\n\n\n\n
\n\n| net, inc non-cash fx effects | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Net cash provided by operating activities | \n | \n102.8 | \n71.5 | \n174.3 | \n\n\n\n\n
\n\n| Cash Flows from Investing Activities | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Capital expenditures | \n | \n(62.2) | \n\u2014 | \n(62.2) | \n\n\n\n\n
\n\n| Investment in development projects | \n2 | \n\u2014 | \n(4.0) | \n(4.0) | \n\n\n\n\n
\n\n| Proceeds from sale of tangible fixed assets and | \n | \n0.7 | \n\u2014 | \n0.7 | \n\n\n\n\n
\n\n| marketable securities | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Investment in / loans to associated entities | \n | \n(2.5) | \n\u2014 | \n(2.5) | \n\n\n\n\n
\n\n| Business acquisition and investment in | \n | \n(54.9) | \n\u2014 | \n(54.9) | \n\n\n\n\n
\n\n| subsidiaries net of cash acquired | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Net cash used by investing activities | \n | \n(118.9) | \n(4.0) | \n(122.9) | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
\n\n\n| (In USD millions) | \n | \nU.S. | \nIFRS | \nIFRS | \n\n\n\n\n
\n\n | \n | \nGAAP | \nimpact | \n | \n\n\n\n\n
\n\n| Cash Flows from Financing Activities | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Borrowings under revolving facilities, other long- | \n | \n17.4 | \n\u2014 | \n17.4 | \n\n\n\n\n
\n\n| term debt and financial | \n | \n | \n | \n | \n\n\n\n\n
\n\n| leases | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Repayments under revolving facilities, other | \n | \n(18.9) | \n\u2014 | \n(18.9) | \n\n\n\n\n
\n\n| long-term debt and financial | \n | \n | \n | \n | \n\n\n\n\n
\n\n| leases | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Interest paid | \n3,4 | \n\u2014 | \n(58.2) | \n(58.2) | \n\n\n\n\n
\n\n| Repayments of lease obligations | \n3 | \n\u2014 | \n(8.0) | \n(8.0) | \n\n\n\n\n
\n\n| Net proceeds from equity issue | \n | \n51.3 | \n\u2014 | \n51.3 | \n\n\n\n\n
\n\n| Cash settlement of restricted stock units | \n | \n(0.3) | \n\u2014 | \n(0.3) | \n\n\n\n\n
\n\n| Net cash provided by financing activities | \n | \n49.5 | \n(66.2) | \n(16.7) | \n\n\n\n\n
\n\n| Effect of exchange rate changes on cash and | \n5 | \n(8.4) | \n(1.3) | \n(9.7) | \n\n\n\n\n
\n\n| cash equivalents | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Net (decrease)/increase in cash and cash | \n | \n25.1 | \n\u2014 | \n25.1 | \n\n\n\n\n
\n\n| equivalents | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Cash and cash equivalents, inc restricted cash, | \n | \n55.6 | \n\u2014 | \n55.6 | \n\n\n\n\n
\n\n| at beginning of the period | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Cash and cash equivalents, inc restricted | \n | \n80.6 | \n\u2014 | \n80.6 | \n\n\n\n\n
\n\n| cash, at the end of the period | \n | \n | \n | \n | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\nIFRS adjustments to the Consolidated Statement of Cash Flow for the year ended 31 December 2024
\n1. \"Net (loss)/profit from continuing operations\" is reclassified to \"Profit before tax\". Income tax is excluded, with corresponding change in tax paid ($8.7 million) and change in deferred and accrued taxes
\n($5.9 million).
\n2. Under U.S. GAAP, both research and development expenditures has been expensed as incurred. Under IFRS we have capitalized $4.0 related to development activities that meet the recognition criteria
\nfor capitalization under IFRS. Profit before tax has been reduced accordingly.
\n3. Under U.S. GAAP operating lease cost is shown as an operating expense. Under IFRS $8.5 million is added to depreciation cost and $3.4 million is added at interest expense paid. $8.0 million is moved
\nto \"Repayment of lease obligations\"
\n4. Under IFRS, interest paid is reclassified from operating activities to financing activities. Repayment of contributed surplus to shareholders is shown separately.
\n5. Reclassification of foreign exchange on borrowings.
\nReconciliation of Consolidated Statement of Changes in Shareholders\u2019 Equity 1 January 2024
\n\n
\n\n\n | \n | \nU.S. GAAP | \nIFRS impact | \nIFRS | \n\n\n\n\n
\n\n| (In USD million) | \nIFRS | \n(Audited) | \n | \n | \n\n\n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n\n\n
\n\n| Common shares | \n | \n16.2 | \n\u2014 | \n16.2 | \n\n\n\n\n
\n\n| Additional Paid In Capital | \n | \n1,052.1 | \n\u2014 | \n1,052.1 | \n\n\n\n\n
\n\n| Accumulated Deficit | \n1 | \n(1,607.3) | \n(5.6) | \n(1,612.9) | \n\n\n\n\n
\n\n| Accumulated Other Comprehensive | \n1 | \n(5.0) | \n5.6 | \n0.6 | \n\n\n\n\n
\n\n| Loss | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Contributed Surplus | \n | \n740.1 | \n\u2014 | \n740.1 | \n\n\n\n\n
\n\n| Total Shareholders\u2019 Equity | \n | \n196.2 | \n\u2014 | \n196.2 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
IFRS adjustments to the Consolidated Statement of Equity for the year ended 1
\nJanuary 2024
\n1. The Company has elected to reset cumulative translation differences to zero at the date
\nof transition to IFRS.
\nReconciliation of Consolidated Statement of Changes in Shareholders\u2019 Equity 31 December 2024
\n\n
\n\n\n | \n | \nU.S. GAAP | \nIFRS impact | \nIFRS | \n\n\n\n\n
\n\n| (In USD million) | \nIFRS | \n(Audited) | \n | \n | \n\n\n\n\n
\n\n | \nadjustment | \n | \n | \n | \n\n\n\n\n
\n\n| Common shares | \n | \n0.9 | \n\u2014 | \n0.9 | \n\n\n\n\n
\n\n| Additional Paid In Capital | \n | \n1,119.0 | \n\u2014 | \n1,119.0 | \n\n\n\n\n
\n\n| Accumulated Deficit | \n1,2 | \n(1,632.9) | \n(1.6) | \n(1,634.5) | \n\n\n\n\n
\n\n| Accumulated Other Comprehensive | \n1 | \n(19.8) | \n5.6 | \n(14.2) | \n\n\n\n\n
\n\n| Loss | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Contributed Surplus | \n | \n740.1 | \n\u2014 | \n740.1 | \n\n\n\n\n
\n\n| Total Shareholders\u2019 Equity | \n | \n207.5 | \n4.0 | \n211.5 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
IFRS adjustments to the Consolidated Statement of Equity for the year ended 31
\nDecember 2024
\n1. The Company has elected to reset cumulative translation differences to zero at the date
\nof transition to IFRS.
\n2. Refer to the section above detailing the IFRS adjustments to the Consolidated Statement
\nof Profit or Loss for the year ended 31 December 2024.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFirstTimeAdoptionExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag562": {
"value": "\n\n
\n
\n
\n
Note 4 Revenue
\n
Revenue from contracts with customers
\n
The activities that primarily drive the revenue earned from our drilling contracts include:
\n
\u2022 Providing specialist crew for the operation of, or repair, maintenance or modifications
\n
of Customer\u2019s platform rigs.
\n
\u2022 Providing land drilling rigs and modular rigs, and the crew and supplies necessary to
\n
operate the rigs;
\n
\u2022 Mobilizing and demobilizing land rigs between well sites;
\n
\u2022 Wireline services; and
\n
\u2022 Rental of equipment
\n
Day rate Drilling Revenue - Our contracts generally provide payment on a day rate basis,
\n
with higher rates for periods when the drilling unit is operating and lower rates or zero rates
\n
for periods when drilling operations are interrupted or restricted. The day rate invoices billed
\n
to the customer are typically determined based on the varying rates applicable to the specific
\n
activities performed on an hourly basis. Such day rate consideration is allocated to the
\n
distinct hourly increment it relates to within the contract term, and therefore, recognized in
\n
line with the contractual rate billed for the services provided for any given hour.
\n
Mobilization Revenue - We may receive fees (on either a fixed lump sum or variable day
\n
rate) for the mobilization of our rigs. These activities are not considered to be distinct within
\n
the context of the contract and therefore, the associated revenue is allocated to the overall
\n
performance obligation and recognized ratably over the expected term of the related drilling
\n
contract. We record a contract liability for mobilization fees received, which is amortized
\n
ratably to contract drilling revenue as services are rendered over the initial term of the related
\n
drilling contract. Contract mobilization costs include costs that are directly attributable to
\n
our future performance obligation under each respective drilling contract. Company defers
\n
mobilization costs and recognizes such costs on a straight-line basis over the same period
\n
as the corresponding mobilization revenue.
\n
Demobilization Revenue - We may receive fees (on either a fixed lump-sum or variable day
\n
rate) for the demobilization of our rigs. Demobilization revenue expected to be received
\n
upon contract completion is estimated as part of the overall transaction price at contract
\n
inception and recognized over the term of the contract. In most of our contracts, there is
\n
uncertainty as to the likelihood and amount of expected demobilization revenue to be
\n
received. For example, the amount may vary depending upon whether the rig has additional
\n
contracted work following the initial contract. Therefore, the estimate for such revenue may
\n
be constrained, as described above, depending on the facts and circumstances pertaining
\n
to the specific contract. We assess the likelihood of receiving such revenue based on
\n
experience and knowledge of the market conditions. Demobilization costs are generally
\n
expensed as incurred, as they do not give rise to future economic benefits. Where such
\n
costs are directly related to satisfying future performance obligations, they are deferred
\n
and amortized consistently with the related revenue.
\n
Revenues Related to Reimbursable Expenses - We generally receive reimbursements from
\n
our customers for the purchase of supplies, equipment, personnel services and other
\n
services provided at their request in accordance with a drilling contract or other agreement.
\n
Such reimbursable revenue is variable and subject to uncertainty, as the amounts received
\n
and timing thereof is highly dependent on factors outside our influence. Accordingly,
\n
reimbursable revenue is not recorded and not included in the total transaction price until
\n
the uncertainty is resolved, which typically occurs when the related costs are incurred on
\n
behalf of a customer. We are generally considered an agent in such transactions.
\n
Accordingly, reimbursable revenue is presented net of the corresponding costs,
\n
representing the margin, if any, earned on such transactions.
\n
Revenue from Long\u2011Term Contracted Projects \u2013 The Company is party to long\u2011term
\n
contractual arrangements that extend beyond the reporting period. The revenue recognized
\n
from these projects includes estimates of variable consideration such as change orders,
\n
claims, compensation for additional services performed, cost overruns and other
\n
contractual adjustments. These amounts are recognized only when it is highly probable
\n
that a significant reversal of cumulative revenue recognized will not occur. The assessment
\n
of such variable consideration involves significant judgement, including evaluation of
\n
contractual rights, the status of negotiations with customers, historical settlement
\n
experience on similar projects and other relevant facts and circumstances. In certain cases,
\n
revenue recognized may be subject to customer approval or ongoing discussions. Actual
\n
outcomes may differ from management\u2019s estimates as projects progress or are completed,
\n
and any resulting adjustments are recognized in the period in which they become known.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
The following table provides information about receivables, contract assets and contract
\n
liabilities from our contracts with customers:
\n
\n
\n\n\n| Revenue from contracts with customers | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \nRestated | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Revenue from contracts with customers | \n1,174.6 | \n1,091.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reimbursable revenue / handling income | \n19.0 | \n15.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Revenue from leasing | \n3.1 | \n5.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Operating Revenue | \n1,196.7 | \n1,112.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gain on equity method investment | \n\u2014 | \n2.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gain on bargain purchase | \n\u2014 | \n0.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gain on sale of equipment | \n0.3 | \n0.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Other Income | \n0.3 | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Revenue | \n1,197.0 | \n1,115.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n| Geographic split of operating revenue | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Norway | \n469.2 | \n 431.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Europe, excluding Norway | \n224.5 | \n 143.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| North America | \n67.4 | \n 35.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| South America | \n350.1 | \n 420.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other geographical markets | \n85.5 | \n 81.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total operating revenue | \n1,196.7 | \n 1,112.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
The table below shows operating revenue from single external customers (> 10% of
\n
revenues)
\n
\n
\n\n\n| Revenue from single external customer (>10%) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Customer 1 | \n 366.9 | \n 354.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Customer 2 | \n 189.1 | \n 248.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Revenue generated from Customer 1 is attributable to the Platform Operations and Well
\n
Services segments, while revenue from Customer 2 is attributable to the Land Drilling
\n
segment.
\n
We recognise contract assets and liabilities which relate to mobilisation and de-mobilisation
\n
fees our modular rigs. These fees are amortised over the relevant contract periods.the
\n
following table details movements in contract assets and liabilities.
\n
Contact assets and laibilities
\n
\n
\n\n\n | \nContact assets | \nContractliabilities | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance 1 January 2024 | \n11.0 | \n4.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs / revenue added to contract asset / liability | \n7.0 | \n5.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs / revenue recognised in the incomestatement | \n(6.0) | \n(4.0) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance 31 December 2024 | \n12.0 | \n5.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs / revenue added to contract asset / liability | \n3.1 | \n2.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs transferred to fixed asset | \n(5.4) | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs / revenue recognised in the incomestatement | \n(9.7) | \n(8.4) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance 31 December 2025 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag529": {
"value": "\n
\n\n
Note 4 Revenue
\n
Revenue from contracts with customers
\n
The activities that primarily drive the revenue earned from our drilling contracts include:
\n
\u2022 Providing specialist crew for the operation of, or repair, maintenance or modifications
\n
of Customer\u2019s platform rigs.
\n
\u2022 Providing land drilling rigs and modular rigs, and the crew and supplies necessary to
\n
operate the rigs;
\n
\u2022 Mobilizing and demobilizing land rigs between well sites;
\n
\u2022 Wireline services; and
\n
\u2022 Rental of equipment
\n
Day rate Drilling Revenue - Our contracts generally provide payment on a day rate basis,
\n
with higher rates for periods when the drilling unit is operating and lower rates or zero rates
\n
for periods when drilling operations are interrupted or restricted. The day rate invoices billed
\n
to the customer are typically determined based on the varying rates applicable to the specific
\n
activities performed on an hourly basis. Such day rate consideration is allocated to the
\n
distinct hourly increment it relates to within the contract term, and therefore, recognized in
\n
line with the contractual rate billed for the services provided for any given hour.
\n
Mobilization Revenue - We may receive fees (on either a fixed lump sum or variable day
\n
rate) for the mobilization of our rigs. These activities are not considered to be distinct within
\n
the context of the contract and therefore, the associated revenue is allocated to the overall
\n
performance obligation and recognized ratably over the expected term of the related drilling
\n
contract. We record a contract liability for mobilization fees received, which is amortized
\n
ratably to contract drilling revenue as services are rendered over the initial term of the related
\n
drilling contract. Contract mobilization costs include costs that are directly attributable to
\n
our future performance obligation under each respective drilling contract. Company defers
\n
mobilization costs and recognizes such costs on a straight-line basis over the same period
\n
as the corresponding mobilization revenue.
\n
Demobilization Revenue - We may receive fees (on either a fixed lump-sum or variable day
\n
rate) for the demobilization of our rigs. Demobilization revenue expected to be received
\n
upon contract completion is estimated as part of the overall transaction price at contract
\n
inception and recognized over the term of the contract. In most of our contracts, there is
\n
uncertainty as to the likelihood and amount of expected demobilization revenue to be
\n
received. For example, the amount may vary depending upon whether the rig has additional
\n
contracted work following the initial contract. Therefore, the estimate for such revenue may
\n
be constrained, as described above, depending on the facts and circumstances pertaining
\n
to the specific contract. We assess the likelihood of receiving such revenue based on
\n
experience and knowledge of the market conditions. Demobilization costs are generally
\n
expensed as incurred, as they do not give rise to future economic benefits. Where such
\n
costs are directly related to satisfying future performance obligations, they are deferred
\n
and amortized consistently with the related revenue.
\n
Revenues Related to Reimbursable Expenses - We generally receive reimbursements from
\n
our customers for the purchase of supplies, equipment, personnel services and other
\n
services provided at their request in accordance with a drilling contract or other agreement.
\n
Such reimbursable revenue is variable and subject to uncertainty, as the amounts received
\n
and timing thereof is highly dependent on factors outside our influence. Accordingly,
\n
reimbursable revenue is not recorded and not included in the total transaction price until
\n
the uncertainty is resolved, which typically occurs when the related costs are incurred on
\n
behalf of a customer. We are generally considered an agent in such transactions.
\n
Accordingly, reimbursable revenue is presented net of the corresponding costs,
\n
representing the margin, if any, earned on such transactions.
\n
Revenue from Long\u2011Term Contracted Projects \u2013 The Company is party to long\u2011term
\n
contractual arrangements that extend beyond the reporting period. The revenue recognized
\n
from these projects includes estimates of variable consideration such as change orders,
\n
claims, compensation for additional services performed, cost overruns and other
\n
contractual adjustments. These amounts are recognized only when it is highly probable
\n
that a significant reversal of cumulative revenue recognized will not occur. The assessment
\n
of such variable consideration involves significant judgement, including evaluation of
\n
contractual rights, the status of negotiations with customers, historical settlement
\n
experience on similar projects and other relevant facts and circumstances. In certain cases,
\n
revenue recognized may be subject to customer approval or ongoing discussions. Actual
\n
outcomes may differ from management\u2019s estimates as projects progress or are completed,
\n
and any resulting adjustments are recognized in the period in which they become known.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag564": {
"value": "\nNote 4 Revenue
\nRevenue from contracts with customers
\nThe activities that primarily drive the revenue earned from our drilling contracts include:
\n\u2022 Providing specialist crew for the operation of, or repair, maintenance or modifications
\nof Customer\u2019s platform rigs.
\n\u2022 Providing land drilling rigs and modular rigs, and the crew and supplies necessary to
\noperate the rigs;
\n\u2022 Mobilizing and demobilizing land rigs between well sites;
\n\u2022 Wireline services; and
\n\u2022 Rental of equipment
\nDay rate Drilling Revenue - Our contracts generally provide payment on a day rate basis,
\nwith higher rates for periods when the drilling unit is operating and lower rates or zero rates
\nfor periods when drilling operations are interrupted or restricted. The day rate invoices billed
\nto the customer are typically determined based on the varying rates applicable to the specific
\nactivities performed on an hourly basis. Such day rate consideration is allocated to the
\ndistinct hourly increment it relates to within the contract term, and therefore, recognized in
\nline with the contractual rate billed for the services provided for any given hour.
\nMobilization Revenue - We may receive fees (on either a fixed lump sum or variable day
\nrate) for the mobilization of our rigs. These activities are not considered to be distinct within
\nthe context of the contract and therefore, the associated revenue is allocated to the overall
\nperformance obligation and recognized ratably over the expected term of the related drilling
\ncontract. We record a contract liability for mobilization fees received, which is amortized
\nratably to contract drilling revenue as services are rendered over the initial term of the related
\ndrilling contract. Contract mobilization costs include costs that are directly attributable to
\nour future performance obligation under each respective drilling contract. Company defers
\nmobilization costs and recognizes such costs on a straight-line basis over the same period
\nas the corresponding mobilization revenue.
\nDemobilization Revenue - We may receive fees (on either a fixed lump-sum or variable day
\nrate) for the demobilization of our rigs. Demobilization revenue expected to be received
\nupon contract completion is estimated as part of the overall transaction price at contract
\ninception and recognized over the term of the contract. In most of our contracts, there is
\nuncertainty as to the likelihood and amount of expected demobilization revenue to be
\nreceived. For example, the amount may vary depending upon whether the rig has additional
\ncontracted work following the initial contract. Therefore, the estimate for such revenue may
\nbe constrained, as described above, depending on the facts and circumstances pertaining
\nto the specific contract. We assess the likelihood of receiving such revenue based on
\nexperience and knowledge of the market conditions. Demobilization costs are generally
\nexpensed as incurred, as they do not give rise to future economic benefits. Where such
\ncosts are directly related to satisfying future performance obligations, they are deferred
\nand amortized consistently with the related revenue.
\nRevenues Related to Reimbursable Expenses - We generally receive reimbursements from
\nour customers for the purchase of supplies, equipment, personnel services and other
\nservices provided at their request in accordance with a drilling contract or other agreement.
\nSuch reimbursable revenue is variable and subject to uncertainty, as the amounts received
\nand timing thereof is highly dependent on factors outside our influence. Accordingly,
\nreimbursable revenue is not recorded and not included in the total transaction price until
\nthe uncertainty is resolved, which typically occurs when the related costs are incurred on
\nbehalf of a customer. We are generally considered an agent in such transactions.
\nAccordingly, reimbursable revenue is presented net of the corresponding costs,
\nrepresenting the margin, if any, earned on such transactions.
\nRevenue from Long\u2011Term Contracted Projects \u2013 The Company is party to long\u2011term
\ncontractual arrangements that extend beyond the reporting period. The revenue recognized
\nfrom these projects includes estimates of variable consideration such as change orders,
\nclaims, compensation for additional services performed, cost overruns and other
\ncontractual adjustments. These amounts are recognized only when it is highly probable
\nthat a significant reversal of cumulative revenue recognized will not occur. The assessment
\nof such variable consideration involves significant judgement, including evaluation of
\ncontractual rights, the status of negotiations with customers, historical settlement
\nexperience on similar projects and other relevant facts and circumstances. In certain cases,
\nrevenue recognized may be subject to customer approval or ongoing discussions. Actual
\noutcomes may differ from management\u2019s estimates as projects progress or are completed,
\nand any resulting adjustments are recognized in the period in which they become known.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe following table provides information about receivables, contract assets and contract
\nliabilities from our contracts with customers:
\n\n
\n\n\n| Revenue from contracts with customers | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \nRestated | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Revenue from contracts with customers | \n1,174.6 | \n1,091.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reimbursable revenue / handling income | \n19.0 | \n15.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Revenue from leasing | \n3.1 | \n5.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Operating Revenue | \n1,196.7 | \n1,112.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gain on equity method investment | \n\u2014 | \n2.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gain on bargain purchase | \n\u2014 | \n0.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gain on sale of equipment | \n0.3 | \n0.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Other Income | \n0.3 | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Revenue | \n1,197.0 | \n1,115.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n| Geographic split of operating revenue | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Norway | \n469.2 | \n 431.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Europe, excluding Norway | \n224.5 | \n 143.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| North America | \n67.4 | \n 35.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| South America | \n350.1 | \n 420.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other geographical markets | \n85.5 | \n 81.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total operating revenue | \n1,196.7 | \n 1,112.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
The table below shows operating revenue from single external customers (> 10% of
\nrevenues)
\n\n
\n\n\n| Revenue from single external customer (>10%) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Customer 1 | \n 366.9 | \n 354.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Customer 2 | \n 189.1 | \n 248.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Revenue generated from Customer 1 is attributable to the Platform Operations and Well
\nServices segments, while revenue from Customer 2 is attributable to the Land Drilling
\nsegment.
\nWe recognise contract assets and liabilities which relate to mobilisation and de-mobilisation
\nfees our modular rigs. These fees are amortised over the relevant contract periods.the
\nfollowing table details movements in contract assets and liabilities.
\nContact assets and laibilities
\n\n
\n\n\n | \nContact assets | \nContractliabilities | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance 1 January 2024 | \n11.0 | \n4.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs / revenue added to contract asset / liability | \n7.0 | \n5.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs / revenue recognised in the incomestatement | \n(6.0) | \n(4.0) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance 31 December 2024 | \n12.0 | \n5.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs / revenue added to contract asset / liability | \n3.1 | \n2.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs transferred to fixed asset | \n(5.4) | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs / revenue recognised in the incomestatement | \n(9.7) | \n(8.4) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance 31 December 2025 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag550": {
"value": "\n
\n\n
\n
\n
Note 5 Segments
\n
\n
Archer reports financial information to its Board of Directors, which acts as the Group\u2019s Chief Operating Decision Maker (\u201cCODM\u201d). The CODM reviews segment results to assess
\n
performance and to allocate resources. Operating segments are identified based on the nature of services provided, and the internal reports regularly reviewed by the CODM in accordance
\n
with IFRS 8 Operating Segments.
\n
The Group presents its operations under the following reporting segments:
\n
\u2022 Platform Operations
\n
\u2022 Well Services
\n
\u2022 Renewables
\n
\u2022 Land Drilling
\n
Corporate costs and corporate assets are reported separately and are not allocated to operating segments.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
The accounting policies applied in determining segment information are consistent with the accounting principles used in the consolidated financial statements.
\n The tables presented
\nbelow and on the following page disclose revenues, depreciation and amortisation, operating income, capital expenditures, goodwill and total assets by segment.
\nSegment information 2025
\n\n
\n\n\n | \nPlatform Operations | \nWell Services | \nRenewables | \nLand Drilling | \nCorporate | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Operating revenue | \n470.7 | \n299.9 | \n124.5 | \n301.9 | \n\u2014 | \n1,196.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Personnel Expenses | \n(264.7) | \n(131.3) | \n(36.3) | \n(132.1) | \n(5.1) | \n(569.4) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Operating Expenses | \n(141.2) | \n(100.3) | \n(74.2) | \n(140.7) | \n(5.6) | \n(462.1) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gain on sale of equipment | \n\u2014 | \n0.2 | \n\u2014 | \n0.1 | \n\u2014 | \n0.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| EBITDA | \n64.8 | \n68.5 | \n14.0 | \n29.2 | \n(10.7) | \n165.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Segment information 2024
\n\n
\n\n\n | \nPlatform Operations | \nWell Services | \nRenewables | \nLand Drilling | \nCorporate | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Operating revenue | \n447.8 | \n274.8 | \n16.5 | \n376.6 | \n\u2014 | \n1,112.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Personnel Expenses | \n(254.6) | \n(110.8) | \n(7.7) | \n(132.1) | \n(5.2) | \n(537.5) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Operating Expenses | \n(131.3) | \n(100.8) | \n(7.6) | \n(180.1) | \n(5.0) | \n(424.5) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Gain on sale of equipment | \n\u2014 | \n\u2014 | \n\u2014 | \n0.8 | \n\u2014 | \n0.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| EBITDA | \n60.9 | \n62.1 | \n1.2 | \n37.4 | \n(10.2) | \n151.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n| Depreciation and amortisation | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Platform Operations | \n17.0 | \n22.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Well Services | \n32.2 | \n19.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Renewables | \n5.0 | \n1.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Land Drilling | \n23.9 | \n26.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total depreciation and amortisation | \n78.1 | \n70.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
* Assets shared by Platform Operations and Well Services segments include shared office
\nand admin facilities, cash and tax assets and liabilities
\n\n
\n\n\n| Operating income/net income | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Platform Operations | \n42.3 | \n38.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Well Services | \n36.4 | \n43.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Renewables | \n7.6 | \n(0.3) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Land Drilling | \n(36.4) | \n9.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Corporate | \n(4.3) | \n(10.1) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total operating income / (loss) | \n45.6 | \n81.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total financial items | \n(93.8) | \n(87.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income taxes | \n(5.3) | \n(14.6) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income/(loss) from continuing operations | \n(53.5) | \n(21.2) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
* Assets shared by Platform Operations and Well Services segments include shared office
\nand admin facilities, cash and tax assets and liabilities
\n\n
\n\n\n| Goodwill | \nLandDrilling | \nPlatformOperations | \nWellServices | \nRenewables | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance at 31 December 2024 | \n1.7 | \n70.3 | \n99.1 | \n3.1 | \n174.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Acquisition of WellConnectionNorway AS / WellMachining AS | \n- | \n- | \n2.5 | \n- | \n2.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Acquisition of Premium OilfieldServices | \n- | \n- | \n3.2 | \n- | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n- | \n7.9 | \n8.2 | \n0.3 | \n16.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Balance at 31 December 2025 | \n1.7 | \n78.2 | \n112.9 | \n3.4 | \n196.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n| Capital Expenditures | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Platform Operations | \n18.4 | \n15.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Well Services | \n19.0 | \n17.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Renewables | \n9.7 | \n1.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Shared assets* | \n3.9 | \n7.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Excluding Land Drilling | \n51.1 | \n42.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Land Drilling | \n7.9 | \n19.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n59.0 | \n62.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n| Total assets | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Platform Operations | \n272.6 | \n166.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Well Services | \n358.6 | \n331.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Shared assets* | \n81.1 | \n134.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Renewables | \n77.9 | \n64.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Land Drilling | \n259.5 | \n304.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Corporate | \n5.1 | \n3.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n1,054.9 | \n1,004.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
* Assets shared by Platform Operations and Well Services segments include shared office
\nand admin facilities, cash and tax assets and liabilities
\n\n
\n\n\n| Non-current assets by country | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Norway | \n115.2 | \n84.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Europa, excluding Norway | \n55.8 | \n48.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| North America | \n71.2 | \n66.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| South America | \n86.9 | \n132.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other geographical markets | \n53.7 | \n47.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Non-current assets | \n382.7 | \n379.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Non-current assets for this purpose consists of property, plant and equipment, intangible
\nassets and other non-current assets.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag544": {
"value": "\nNote 5 Segments
\n
\nArcher reports financial information to its Board of Directors, which acts as the Group\u2019s Chief Operating Decision Maker (\u201cCODM\u201d). The CODM reviews segment results to assess
\nperformance and to allocate resources. Operating segments are identified based on the nature of services provided, and the internal reports regularly reviewed by the CODM in accordance
\nwith IFRS 8 Operating Segments.
\nThe Group presents its operations under the following reporting segments:
\n\u2022 Platform Operations
\n\u2022 Well Services
\n\u2022 Renewables
\n\u2022 Land Drilling
\nCorporate costs and corporate assets are reported separately and are not allocated to operating segments.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe accounting policies applied in determining segment information are consistent with the accounting principles used in the consolidated financial statements.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag530": {
"value": "\n
\n\n
\n
Note 7 Other Operating Expenses
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tools and equipment | \n192.7 | \n148.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reimbursable and subcontractor cost | \n47.9 | \n51.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Freight and transport | \n34.2 | \n39.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Rental of equipment | \n34.2 | \n35.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| External consultants including audit fees | \n26.4 | \n36.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Travel and course expenses | \n25.5 | \n19.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Repair and maintenance | \n25.3 | \n27.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| IT cost and equipment | \n22.7 | \n20.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Restructuring cost | \n19.8 | \n7.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n33.4 | \n38.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Other operating expenses | \n462.1 | \n424.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Audit Fees
\n
Total auditors\u2019 remuneration to PricewaterhouseCoopers was an audit fee of $0.7 million
\n
(2024:0.7) for the year ended 31 December 2025 and $0.3 million in attestation services
\n
(2024: $0.1 million). Archer Ltd ($0.5 million) received the main amount of cost, in addition
\n
to Archer (UK) Ltd ($0.2 million) and Archer Norge AS ($0.3 million). The compensation to
\n
the auditor is paid in GBP, NOK and USD.
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Legally required audit | \n0.7 | \n0.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Attestation services | \n0.3 | \n0.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other services | \n0.0 | \n0.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total audit fee | \n1.0 | \n0.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag531": {
"value": "\n
\nNote 7 Other Operating Expenses
\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tools and equipment | \n192.7 | \n148.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reimbursable and subcontractor cost | \n47.9 | \n51.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Freight and transport | \n34.2 | \n39.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Rental of equipment | \n34.2 | \n35.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| External consultants including audit fees | \n26.4 | \n36.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Travel and course expenses | \n25.5 | \n19.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Repair and maintenance | \n25.3 | \n27.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| IT cost and equipment | \n22.7 | \n20.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Restructuring cost | \n19.8 | \n7.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n33.4 | \n38.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Other operating expenses | \n462.1 | \n424.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Audit Fees
\n
Total auditors\u2019 remuneration to PricewaterhouseCoopers was an audit fee of $0.7 million
\n
(2024:0.7) for the year ended 31 December 2025 and $0.3 million in attestation services
\n
(2024: $0.1 million). Archer Ltd ($0.5 million) received the main amount of cost, in addition
\n
to Archer (UK) Ltd ($0.2 million) and Archer Norge AS ($0.3 million). The compensation to
\n
the auditor is paid in GBP, NOK and USD.
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Legally required audit | \n0.7 | \n0.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Attestation services | \n0.3 | \n0.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other services | \n0.0 | \n0.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total audit fee | \n1.0 | \n0.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag532": {
"value": "\nAudit Fees
\nTotal auditors\u2019 remuneration to PricewaterhouseCoopers was an audit fee of $0.7 million
\n(2024:0.7) for the year ended 31 December 2025 and $0.3 million in attestation services
\n(2024: $0.1 million). Archer Ltd ($0.5 million) received the main amount of cost, in addition
\nto Archer (UK) Ltd ($0.2 million) and Archer Norge AS ($0.3 million). The compensation to
\nthe auditor is paid in GBP, NOK and USD.
\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Legally required audit | \n0.7 | \n0.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Attestation services | \n0.3 | \n0.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other services | \n0.0 | \n0.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total audit fee | \n1.0 | \n0.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag533": {
"value": "\n
\n\n
\n
\n
\n
\n
\n
\n
Note 8 Financial Income and Expenses
\n
Other Financial Items
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign exchange gains / (losses) | \n8.9 | \n(20.9) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Extinguishment of accrued prepaid debt fees | \n(16.2) | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other items | \n(5.6) | \n(6.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total other financial items | \n(12.5) | \n(27.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Prepaid debt fees that had been accrued and not amortized in relation to the First Lien
\n
Debt and Second Lien Bond, at the time of the early redemption, was expensed. This
\n
amounted to $16.2 million.
\n
\n
Foreign exchange gains for the twelve months ended December 31, 2025, includes net
\n
gains of $23.8 million in Archer Norge AS, a 100% owned subsidiary with NOK functional
\n
currency. The net gains reported by Archer Norge AS include a gain of around $54.4 million
\n
on USD denominated external loan facilities and losses of around $32.7 million in respect
\n
of internal receivable loan balances denominated in USD. The FX gains and losses in
\n
subsidiaries reporting in NOK are largely offset in equity by translation adjustments,
\n
recognised in accumulated other comprehensive income, which result from the translation
\n
of the NOK financial statements to USD prior to consolidation.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
Net Interest Expense
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income from bank deposits | \n0.4 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Interest Income | \n1.1 | \n2.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total interest income | \n1.6 | \n4.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses from bond loan | \n42.3 | \n38.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Make-whole premium on early debt repayment | \n21.4 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on bank deposits | \n8.9 | \n22.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on lease liability | \n4.6 | \n3.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other interest expenses | \n5.6 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Interest expenses | \n82.9 | \n66.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Interest expenses | \n81.3 | \n62.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
See Note 23 Interest-bearing debt for more information about interest bearing borrowings.
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"value": "\n
\n\n
\n
\n
\n
\n
Note 8 Financial Income and Expenses
\n
Other Financial Items
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign exchange gains / (losses) | \n8.9 | \n(20.9) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Extinguishment of accrued prepaid debt fees | \n(16.2) | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other items | \n(5.6) | \n(6.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total other financial items | \n(12.5) | \n(27.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Prepaid debt fees that had been accrued and not amortized in relation to the First Lien
\n
Debt and Second Lien Bond, at the time of the early redemption, was expensed. This
\n
amounted to $16.2 million.
\n
\n
Foreign exchange gains for the twelve months ended December 31, 2025, includes net
\n
gains of $23.8 million in Archer Norge AS, a 100% owned subsidiary with NOK functional
\n
currency. The net gains reported by Archer Norge AS include a gain of around $54.4 million
\n
on USD denominated external loan facilities and losses of around $32.7 million in respect
\n
of internal receivable loan balances denominated in USD. The FX gains and losses in
\n
subsidiaries reporting in NOK are largely offset in equity by translation adjustments,
\n
recognised in accumulated other comprehensive income, which result from the translation
\n
of the NOK financial statements to USD prior to consolidation.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
Net Interest Expense
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income from bank deposits | \n0.4 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Interest Income | \n1.1 | \n2.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total interest income | \n1.6 | \n4.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses from bond loan | \n42.3 | \n38.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Make-whole premium on early debt repayment | \n21.4 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on bank deposits | \n8.9 | \n22.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on lease liability | \n4.6 | \n3.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other interest expenses | \n5.6 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Interest expenses | \n82.9 | \n66.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Interest expenses | \n81.3 | \n62.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
See Note 23 Interest-bearing debt for more information about interest bearing borrowings.
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
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"Tag535": {
"value": "\n
\n
\n
\n\n
Note 8 Financial Income and Expenses
\n
Other Financial Items
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign exchange gains / (losses) | \n8.9 | \n(20.9) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Extinguishment of accrued prepaid debt fees | \n(16.2) | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other items | \n(5.6) | \n(6.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total other financial items | \n(12.5) | \n(27.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Prepaid debt fees that had been accrued and not amortized in relation to the First Lien
\nDebt and Second Lien Bond, at the time of the early redemption, was expensed. This
\namounted to $16.2 million.
\n\n
Foreign exchange gains for the twelve months ended December 31, 2025, includes net
\n
gains of $23.8 million in Archer Norge AS, a 100% owned subsidiary with NOK functional
\n
currency. The net gains reported by Archer Norge AS include a gain of around $54.4 million
\n
on USD denominated external loan facilities and losses of around $32.7 million in respect
\n
of internal receivable loan balances denominated in USD. The FX gains and losses in
\n
subsidiaries reporting in NOK are largely offset in equity by translation adjustments,
\n
recognised in accumulated other comprehensive income, which result from the translation
\n
of the NOK financial statements to USD prior to consolidation.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
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Net Interest Expense
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income from bank deposits | \n0.4 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Interest Income | \n1.1 | \n2.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total interest income | \n1.6 | \n4.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses from bond loan | \n42.3 | \n38.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Make-whole premium on early debt repayment | \n21.4 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on bank deposits | \n8.9 | \n22.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on lease liability | \n4.6 | \n3.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other interest expenses | \n5.6 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Interest expenses | \n82.9 | \n66.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Interest expenses | \n81.3 | \n62.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
See Note 23 Interest-bearing debt for more information about interest bearing borrowings.
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
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\n\n
\n
\n
Net Interest Expense
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income from bank deposits | \n0.4 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Interest Income | \n1.1 | \n2.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total interest income | \n1.6 | \n4.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses from bond loan | \n42.3 | \n38.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Make-whole premium on early debt repayment | \n21.4 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on bank deposits | \n8.9 | \n22.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on lease liability | \n4.6 | \n3.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other interest expenses | \n5.6 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Interest expenses | \n82.9 | \n66.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Interest expenses | \n81.3 | \n62.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
See Note 23 Interest-bearing debt for more information about interest bearing borrowings.
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\n\n
Net Interest Expense
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income from bank deposits | \n0.4 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Interest Income | \n1.1 | \n2.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total interest income | \n1.6 | \n4.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses from bond loan | \n42.3 | \n38.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Make-whole premium on early debt repayment | \n21.4 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on bank deposits | \n8.9 | \n22.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on lease liability | \n4.6 | \n3.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other interest expenses | \n5.6 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Interest expenses | \n82.9 | \n66.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Interest expenses | \n81.3 | \n62.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
See Note 23 Interest-bearing debt for more information about interest bearing borrowings.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
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},
"Tag538": {
"value": "\nNet Interest Expense
\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income from bank deposits | \n0.4 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other Interest Income | \n1.1 | \n2.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total interest income | \n1.6 | \n4.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses from bond loan | \n42.3 | \n38.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Make-whole premium on early debt repayment | \n21.4 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on bank deposits | \n8.9 | \n22.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expenses on lease liability | \n4.6 | \n3.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other interest expenses | \n5.6 | \n1.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Interest expenses | \n82.9 | \n66.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net Interest expenses | \n81.3 | \n62.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
See Note 23 Interest-bearing debt for more information about interest bearing borrowings.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag539": {
"value": "\n
\n
\n
\n
\n\n
\n
\n
\n
Note 9 Earnings per Share and Dividends
\n
Basic earnings per share (EPS) is calculated as the ratio of profit for the year attributable
\n
to controlling interests to the weighted average number of shares outstanding during the
\n
period.
\n
Diluted EPS includes the effect of the assumed conversion of potentially dilutive
\n
instruments. The calculation of the denominator used for the computation of basic and
\n
diluted earnings is shown in the table below. The calculation takes account of the weighted
\n
average number of un-vested restricted stock units during the period.
\n
\n
If applicable, profit attributable to ordinary shareholders is adjusted for any after-tax effects
\n
of preference dividends or other similar instruments classified as equity.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Weighted number of shares outstanding
\n\n
\n\n\n | \nThree Months Ended31 December | \nTwelve Months Ended31 December | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (In thousands) | \n2025 | \n2024 | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| Denominator | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Weighted-average common sharesoutstanding | \n99,479 | \n79,354 | \n92,840 | \n68,586 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of potentially dilutive commonshares | \n223 | \n142 | \n231 | \n192 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Weighted-average common sharesoutstanding and assumed conversions | \n99,682 | \n79,497 | \n93,071 | \n68,778 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag540": {
"value": "\n
\nNote 9 Earnings per Share and Dividends
\nBasic earnings per share (EPS) is calculated as the ratio of profit for the year attributable
\nto controlling interests to the weighted average number of shares outstanding during the
\nperiod.
\nDiluted EPS includes the effect of the assumed conversion of potentially dilutive
\ninstruments. The calculation of the denominator used for the computation of basic and
\ndiluted earnings is shown in the table below. The calculation takes account of the weighted
\naverage number of un-vested restricted stock units during the period.
\n\n
If applicable, profit attributable to ordinary shareholders is adjusted for any after-tax effects
\n
of preference dividends or other similar instruments classified as equity.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag541": {
"value": "\nIf applicable, profit attributable to ordinary shareholders is adjusted for any after-tax effects
\nof preference dividends or other similar instruments classified as equity.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag555": {
"value": "\n
\n
\n
\n
\n\n
\n
\n
\n
Note 10 Income Tax
\n
Archer is a Bermuda company. In December 2023, Bermuda enacted a corporate income
\n
tax effective for fiscal years beginning on or after 1 January 2025. The Bermuda income
\n
tax rules are designed to align with the OECD\u2019s Global Anti-Base Erosion (GloBE) framework.
\n
The calculation of taxable income begins with financial accounting net income or loss
\n
determined in accordance with the acceptable financial accounting standards used in
\n
preparing the consolidated financial statements of the ultimate parent entity. The statutory
\n
income tax rate is 15%.
\n
Certain subsidiaries operate in other jurisdictions where income taxes are imposed,
\n
including Norway, the United States, Argentina, Brazil and the United Kingdom. For legal
\n
entities operating in taxable jurisdictions, income tax is computed in accordance with the
\n
laws and regulations of the relevant taxing authority. The income tax rates imposed by
\n
these authorities vary. Taxable income may differ from accounting profit because of
\n
temporary differences and items that are taxable or deductible in different periods.
\n
Current tax is the expected tax payable or receivable on the taxable profit or loss for the
\n
year, using tax rates enacted or substantively enacted at the reporting date.
\n
\n
Deferred tax is recognised on temporary differences between the carrying amounts of
\n
assets and liabilities in the financial statements and their corresponding tax bases. Deferred
\n
tax liabilities are generally recognised for all taxable temporary differences. Deferred tax
\n
assets are recognised for all deductible temporary differences and unused tax losses to
\n
the extent that it is probable that taxable profit will be available against which they can be
\n
utilised. Deferred tax assets and liabilities are measured at the tax rates expected to apply
\n
in the period when the asset is realised or the liability is settled, based on rates enacted or
\n
substantively enacted at the reporting date.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
The effect of changes in tax rates or tax laws is recognised in the period in which the change
\n
is substantively enacted.
\n
Uncertain tax positions are accounted for in accordance with IFRIC 23 \u2013 Uncertainty over
\n
Income Tax Treatments. The Group determines whether it is probable that a taxation
\n
authority will accept each uncertain tax treatment. If it is not probable, the Group measures
\n
the related tax liability or asset using either the most likely amount or the expected value
\n
method, depending on which method better predicts the resolution of the uncertainty.
\n
Significant judgement is required in determining income tax provisions, deferred tax assets
\n
and liabilities, and uncertain tax positions. Tax filings are subject to routine audit by the
\n
authorities in most jurisdictions in which we operate. Any adjustments arising from these
\n
audits are recognised in the period in which they are resolved.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Income tax expense
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current income tax | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current year | \n10.7 | \n12.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Prior year adjustment | \n(0.2) | \n0.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Withholding taxes | \n3.8 | \n2.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total current income tax | \n14.2 | \n15.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred income tax | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Change in deferred tax assets and liabilities | \n(8.7) | \n(0.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total deferred income tax | \n(8.7) | \n(0.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total income tax expense | \n5.3 | \n14.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effective tax rate | \n11.4% | \n221.2% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n
\n\n| Profit (loss) before income taxes | \n(48.2) | \n(6.6) | \n\n\n
\n\n| Tax calculated at domestic tax rates applicable to profits in | \n(7.2) | \n(0.2) | \n\n\n
\n\n| respective countries | \n | \n | \n\n\n
\n\n| Effect of non-deductible expense | \n1.7 | \n4.1 | \n\n\n
\n\n| Effect of unrecognized tax losses | \n4.5 | \n(0.7) | \n\n\n
\n\n| Effect of other unrecognized deferred tax assets | \n2.7 | \n8.6 | \n\n\n
\n\n| Effect of adjustments from prior years | \n(0.2) | \n0.4 | \n\n\n
\n\n| Effect of state and withholding taxes | \n3.8 | \n2.3 | \n\n\n
\n\n| Actual tax expense recognized | \n5.3 | \n14.6 | \n\n\n
\n\n\n\n\n\n
\n\n\n
\n
Deferred Income Taxes
\n
Deferred income taxes reflect the impact of temporary differences between the amount of
\n
assets and liabilities recognised for financial reporting purposes and such amounts
\n
recognised for tax purposes. The net deferred tax assets consist of the following:
\n
\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n
\n\n| Tax losses carry forward | \n866.9 | \n908.7 | \n\n\n
\n\n| Impairments of tangible and intangible assets | \n7.2 | \n13.7 | \n\n\n
\n\n| Property differences | \n(9.6) | \n34.0 | \n\n\n
\n\n| Provisions | \n42.8 | \n9.1 | \n\n\n
\n\n| Intercompany cost not paid | \n48.4 | \n38.7 | \n\n\n
\n\n| Other | \n8.5 | \n(7.3) | \n\n\n
\n\n| Gross deferred tax asset | \n964.5 | \n996.9 | \n\n\n
\n\n| Deferred tax asset not recognized | \n(822.3) | \n(869.6) | \n\n\n
\n\n| Net deferred tax asset basis | \n141.9 | \n127.3 | \n\n\n
\n\n| Net deferred tax asset - net | \n34.6 | \n23.9 | \n\n\n
\n\n\n\n\n\n
\n\n\n
\n
\n\n
\n\n\nTax losses
\n\n
\n\n\n | \nExpiry within 5years | \nExpiry 5-20years | \nIndefiniteexpiration | \nTotal | \nOf which isunrecognized | \nOf which isrecognized | \nOther taxassets-unrecognized | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Norway | \n- | \n- | \n68.7 | \n68.7 | \n- | \n68.7 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Europa, excluding Norway | \n- | \n- | \n16.7 | \n16.7 | \n- | \n16.7 | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| North America | \n14.0 | \n651.4 | \n68.8 | \n734.2 | \n734.2 | \n- | \n- | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| South America | \n26.4 | \n- | \n21.0 | \n47.4 | \n42.7 | \n4.7 | \n45.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total tax losses | \n40.4 | \n651.4 | \n139.1 | \n866.9 | \n776.9 | \n90.1 | \n45.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Other unrecognised tax assets primarily relate to deferred tax assets arising from
\nintercompany costs that have not yet been paid and are therefore not recognized for tax
\npurposes in Argentina.
\nGlobal minimum top\u2011up tax (Pillar Two)
\nThe OECD Pillar Two rules introduce a global minimum effective tax rate of 15% for
\nmultinational enterprise groups with consolidated annual revenues exceeding EUR 750
\nmillion. The rules have been enacted in several jurisdictions in which the Group operates.
\nThe Group\u2019s ultimate parent entity is domiciled in Bermuda. In December 2023, Bermuda
\nenacted corporate income tax legislation, effective for fiscal years beginning on or after 1
\nJanuary 2025. The Bermuda corporate income tax regime is designed to align with the
\nOECD Global Anti\u2011Base Erosion (GloBE) framework. The statutory income tax rate is 15%,
\nand taxable income is based on financial accounting profit, subject to limited adjustments.
\nAs a result, the Group is within the scope of the Pillar Two legislation for the financial year
\n2025. The Group has applied the mandatory temporary exception under IAS 12 in relation
\nto the recognition and disclosure of deferred tax assets and liabilities arising from Pillar
\nTwo income taxes.
\nThe Group has performed a detailed assessment of its exposure to Pillar Two income taxes
\nfor the 2025 financial year. Based on this assessment, including updated jurisdictional
\nanalyses and the continued application of applicable Transitional Country\u2011by\u2011Country
\nReporting (CbCR) Safe Harbour provisions, the Group does not expect any material top\u2011up
\ntax to arise for the year ended 31 December 2025.
\nConsequently, no current tax expense related to Pillar Two income taxes has been
\nrecognised for the year (2024: nil).
\nIncome tax consequences of dividend distribution
\nIn accordance with IAS 12 Income Taxes, the Company has assessed the income tax
\nconsequences of the cash dividend of NOK 0.62 per share declared during the year. The
\ndistribution does not give rise to any current or deferred income tax consequences for the
\nCompany and therefore no income tax expense or liability has been recognised in relation
\nto the distribution.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag542": {
"value": "\n
\nNote 10 Income Tax
\nArcher is a Bermuda company. In December 2023, Bermuda enacted a corporate income
\ntax effective for fiscal years beginning on or after 1 January 2025. The Bermuda income
\ntax rules are designed to align with the OECD\u2019s Global Anti-Base Erosion (GloBE) framework.
\nThe calculation of taxable income begins with financial accounting net income or loss
\ndetermined in accordance with the acceptable financial accounting standards used in
\npreparing the consolidated financial statements of the ultimate parent entity. The statutory
\nincome tax rate is 15%.
\nCertain subsidiaries operate in other jurisdictions where income taxes are imposed,
\nincluding Norway, the United States, Argentina, Brazil and the United Kingdom. For legal
\nentities operating in taxable jurisdictions, income tax is computed in accordance with the
\nlaws and regulations of the relevant taxing authority. The income tax rates imposed by
\nthese authorities vary. Taxable income may differ from accounting profit because of
\ntemporary differences and items that are taxable or deductible in different periods.
\nCurrent tax is the expected tax payable or receivable on the taxable profit or loss for the
\nyear, using tax rates enacted or substantively enacted at the reporting date.
\n\n
Deferred tax is recognised on temporary differences between the carrying amounts of
\n
assets and liabilities in the financial statements and their corresponding tax bases. Deferred
\n
tax liabilities are generally recognised for all taxable temporary differences. Deferred tax
\n
assets are recognised for all deductible temporary differences and unused tax losses to
\n
the extent that it is probable that taxable profit will be available against which they can be
\n
utilised. Deferred tax assets and liabilities are measured at the tax rates expected to apply
\n
in the period when the asset is realised or the liability is settled, based on rates enacted or
\n
substantively enacted at the reporting date.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
The effect of changes in tax rates or tax laws is recognised in the period in which the change
\nis substantively enacted.
\nUncertain tax positions are accounted for in accordance with IFRIC 23 \u2013 Uncertainty over
\nIncome Tax Treatments. The Group determines whether it is probable that a taxation
\nauthority will accept each uncertain tax treatment. If it is not probable, the Group measures
\nthe related tax liability or asset using either the most likely amount or the expected value
\nmethod, depending on which method better predicts the resolution of the uncertainty.
\nSignificant judgement is required in determining income tax provisions, deferred tax assets
\nand liabilities, and uncertain tax positions. Tax filings are subject to routine audit by the
\nauthorities in most jurisdictions in which we operate. Any adjustments arising from these
\naudits are recognised in the period in which they are resolved.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag543": {
"value": "\nDeferred tax is recognised on temporary differences between the carrying amounts of
\nassets and liabilities in the financial statements and their corresponding tax bases. Deferred
\ntax liabilities are generally recognised for all taxable temporary differences. Deferred tax
\nassets are recognised for all deductible temporary differences and unused tax losses to
\nthe extent that it is probable that taxable profit will be available against which they can be
\nutilised. Deferred tax assets and liabilities are measured at the tax rates expected to apply
\nin the period when the asset is realised or the liability is settled, based on rates enacted or
\nsubstantively enacted at the reporting date.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag546": {
"value": "\nIncome tax expense
\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current income tax | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Current year | \n10.7 | \n12.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Prior year adjustment | \n(0.2) | \n0.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Withholding taxes | \n3.8 | \n2.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total current income tax | \n14.2 | \n15.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred income tax | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Change in deferred tax assets and liabilities | \n(8.7) | \n(0.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total deferred income tax | \n(8.7) | \n(0.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total income tax expense | \n5.3 | \n14.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effective tax rate | \n11.4% | \n221.2% | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n
\n\n| Profit (loss) before income taxes | \n(48.2) | \n(6.6) | \n\n\n
\n\n| Tax calculated at domestic tax rates applicable to profits in | \n(7.2) | \n(0.2) | \n\n\n
\n\n| respective countries | \n | \n | \n\n\n
\n\n| Effect of non-deductible expense | \n1.7 | \n4.1 | \n\n\n
\n\n| Effect of unrecognized tax losses | \n4.5 | \n(0.7) | \n\n\n
\n\n| Effect of other unrecognized deferred tax assets | \n2.7 | \n8.6 | \n\n\n
\n\n| Effect of adjustments from prior years | \n(0.2) | \n0.4 | \n\n\n
\n\n| Effect of state and withholding taxes | \n3.8 | \n2.3 | \n\n\n
\n\n| Actual tax expense recognized | \n5.3 | \n14.6 | \n\n\n
\n\n\n\n\n\n
\n\n\n
Deferred Income Taxes
\nDeferred income taxes reflect the impact of temporary differences between the amount of
\nassets and liabilities recognised for financial reporting purposes and such amounts
\nrecognised for tax purposes. The net deferred tax assets consist of the following:
\n\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n
\n\n| Tax losses carry forward | \n866.9 | \n908.7 | \n\n\n
\n\n| Impairments of tangible and intangible assets | \n7.2 | \n13.7 | \n\n\n
\n\n| Property differences | \n(9.6) | \n34.0 | \n\n\n
\n\n| Provisions | \n42.8 | \n9.1 | \n\n\n
\n\n| Intercompany cost not paid | \n48.4 | \n38.7 | \n\n\n
\n\n| Other | \n8.5 | \n(7.3) | \n\n\n
\n\n| Gross deferred tax asset | \n964.5 | \n996.9 | \n\n\n
\n\n| Deferred tax asset not recognized | \n(822.3) | \n(869.6) | \n\n\n
\n\n| Net deferred tax asset basis | \n141.9 | \n127.3 | \n\n\n
\n\n| Net deferred tax asset - net | \n34.6 | \n23.9 | \n\n\n
\n\n\n\n\n\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag525": {
"value": "\n
\n
\n
\n
\n\n
\n
\n
\n
\n
Note 11 Property, plant and equipment
\n
Property, plant and equipment comprise mainly of Rigs deployed in our Land Drilling
\n
business in Latin America. In addition, we have two modular and various well services
\n
equipment and machinery. Property, plant and equipment is stated at historical cost less
\n
depreciation and impairments. Historical cost includes purchase price, any directly
\n
attributable costs of bringing the asset to working condition.
\n
\n
The cost of these assets, less estimated residual value, is depreciated on a straight-line
\n
basis over their estimated remaining economic useful lives. The estimated useful lives of
\n
our fixed assets are as follows:
\n
\u2022 Buildings: 3 \u2013 50 years
\n
\u2022 Drilling and well service equipment: 2 \u2013 30 years
\n
\u2022 Office furniture and fixtures: 3 \u2013 10 years
\n
\u2022 Motor vehicles: 3 \u2013 7 years
\n
We evaluate the useful lives, residual values, and depreciation methods of our property,
\n
plant and equipment on a periodic basis to determine whether events or circumstances
\n
warrant a revision.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Expenditures for replacements or improvements are capitalized when it is probable that
\n
future economic benefits associated with the item will flow to the Company and the cost
\n
can be measured reliably. Costs related to the reclassification of equipment that extend
\n
the asset\u2019s useful life or enhance its future economic benefits are capitalized as part of
\n
property, plant and equipment. The capitalized amounts are amortized on a straight\u2011line
\n
basis over five years, reflecting the period over which the Group expects to benefit from
\n
the reclassified costs. Maintenance and repairs are charged to operating expenses as
\n
incurred.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Fully depreciated assets are retained in property, plant and equipment and accumulated
\n
depreciation until disposal. Upon sale or retirement, the cost of the asset and related
\n
accumulated depreciation are removed from the balance sheet, and any resulting gain or
\n
loss is recognized in the consolidated statement of operations.
\n
The carrying amounts of property, plant and equipment are reviewed for impairment when
\n
events or changes in circumstances indicate that the carrying amount may not be
\n
recoverable. An impairment loss is recognised for the amount by which the asset\u2019s carrying
\n
amount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s
\n
fair value less costs to sell and value in use. For the purposes of assessing impairment,
\n
assets are grouped at the lowest levels for which there are separately identifiable cash flows
\n
(CGUs). Value in use represents the present value of estimated future cash flows expected
\n
to arise from the continuing use of an asset and from its disposal at the end of its useful
\n
life. Non-financial assets, other than goodwill, that have suffered an impairment, are
\n
reviewed for reversal of the impairment whenever events or changes in circumstances
\n
indicate that the impairment loss recognised in prior periods may no longer exist or may
\n
have decreased. For more information about Right-of-use assets, refer to Note 17 - Leases.
\n
Refer to Note 28 for information about capital commitments.
\n
Assets under construction
\n
The carrying value of assets under construction represents the accumulated costs incurred
\n
at the balance sheet date and is included in Property, Plant and Equipment in the
\n
consolidated balance sheet.
\n
Cost components include progress payments, variation orders, construction supervision,
\n
equipment, spare parts, capitalised borrowing costs, costs related to first-time mobilisation,
\n
and commissioning costs. These costs comprise directly attributable expenditures
\n
necessary to bring the asset to the location and condition required for it to be capable of
\n
operating in the manner intended by management.
\n
No charge for depreciation is made until commissioning of the new build has been
\n
completed, and the asset is available for use in its intended operational condition.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n| Net book value | \nOperationalequipment | \nOther fixedassets | \nAssetsunderconstruction | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value 31 Dec. 2025 | \n292.7 | \n22.1 | \n10.2 | \n324.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value 31 Dec. 2024 | \n302.3 | \n18.3 | \n22.0 | \n342.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\n\n| Cost | \nOperationalequipment | \nOther fixedassets | \nAssetsunderconstruction | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n1,036.4 | \n45.0 | \n24.5 | \n1,105.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net purchase additions | \n42.1 | \n7.4 | \n\u2014 | \n49.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassification | \n1.5 | \n\u2014 | \n(1.5) | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n47.1 | \n\u2014 | \n\u2014 | \n47.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs eliminated on assetdisposals | \n(4.1) | \n(0.0) | \n\u2014 | \n(4.1) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n(27.4) | \n(4.4) | \n(1.0) | \n(32.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n1,095.6 | \n48.0 | \n22.0 | \n1,165.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net purchase additions | \n53.3 | \n8.5 | \n\u2014 | \n61.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reclassification | \n11.1 | \n\u2014 | \n(11.1) | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n 12.7 | \n1.9 | \n\u2014 | \n 14.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Costs eliminated on assetdisposals | \n(58.7) | \n\u2014 | \n\u2014 | \n(58.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Asset held for sale | \n(261.0) | \n(2.1) | \n(0.7) | \n(263.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n(11.2) | \n(0.1) | \n\u2014 | \n12.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n865.0 | \n56.4 | \n10.2 | \n931.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n| Accumulated depreciation andimpairments | \nOperationalequipment | \nOther fixedassets | \nAssetsunderconstruction | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n(762.3) | \n(30.5) | \n\u2014 | \n(792.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deprecation | \n(59.2) | \n(2.4) | \n\u2014 | \n(61.6) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairments | \n(2.7) | \n\u2014 | \n\u2014 | \n(2.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Eliminations on assets disposals | \n5.1 | \n0.0 | \n\u2014 | \n5.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n25.8 | \n3.2 | \n\u2014 | \n29.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n(793.3) | \n(29.7) | \n\u2014 | \n(823.0) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deprecation | \n(56.7) | \n(7.7) | \n\u2014 | \n(64.4) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairments | \n(7.8) | \n\u2014 | \n\u2014 | \n(7.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Eliminations on assets disposals | \n36.2 | \n\u2014 | \n\u2014 | \n36.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Asset held for sale | \n239.3 | \n2.1 | \n\u2014 | \n241.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n10.0 | \n1.0 | \n\u2014 | \n11.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n(572.3) | \n(34.3) | \n\u2014 | \n(606.6) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Useful lifetime | \n2 \u2013 30 years | \n3 \u2013 10 years | \n\u2014 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation schedule | \nStraight line | \nStraight line | \nNotdepreciated | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag335": {
"value": "\n
\n
\nNote 11 Property, plant and equipment
\nProperty, plant and equipment comprise mainly of Rigs deployed in our Land Drilling
\nbusiness in Latin America. In addition, we have two modular and various well services
\nequipment and machinery. Property, plant and equipment is stated at historical cost less
\ndepreciation and impairments. Historical cost includes purchase price, any directly
\nattributable costs of bringing the asset to working condition.
\n\n
The cost of these assets, less estimated residual value, is depreciated on a straight-line
\n
basis over their estimated remaining economic useful lives. The estimated useful lives of
\n
our fixed assets are as follows:
\n
\u2022 Buildings: 3 \u2013 50 years
\n
\u2022 Drilling and well service equipment: 2 \u2013 30 years
\n
\u2022 Office furniture and fixtures: 3 \u2013 10 years
\n
\u2022 Motor vehicles: 3 \u2013 7 years
\n
We evaluate the useful lives, residual values, and depreciation methods of our property,
\n
plant and equipment on a periodic basis to determine whether events or circumstances
\n
warrant a revision.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
Expenditures for replacements or improvements are capitalized when it is probable that
\n
future economic benefits associated with the item will flow to the Company and the cost
\n
can be measured reliably. Costs related to the reclassification of equipment that extend
\n
the asset\u2019s useful life or enhance its future economic benefits are capitalized as part of
\n
property, plant and equipment. The capitalized amounts are amortized on a straight\u2011line
\n
basis over five years, reflecting the period over which the Group expects to benefit from
\n
the reclassified costs. Maintenance and repairs are charged to operating expenses as
\n
incurred.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
Fully depreciated assets are retained in property, plant and equipment and accumulated
\ndepreciation until disposal. Upon sale or retirement, the cost of the asset and related
\naccumulated depreciation are removed from the balance sheet, and any resulting gain or
\nloss is recognized in the consolidated statement of operations.
\nThe carrying amounts of property, plant and equipment are reviewed for impairment when
\nevents or changes in circumstances indicate that the carrying amount may not be
\nrecoverable. An impairment loss is recognised for the amount by which the asset\u2019s carrying
\namount exceeds its recoverable amount. The recoverable amount is the higher of an asset\u2019s
\nfair value less costs to sell and value in use. For the purposes of assessing impairment,
\nassets are grouped at the lowest levels for which there are separately identifiable cash flows
\n(CGUs). Value in use represents the present value of estimated future cash flows expected
\nto arise from the continuing use of an asset and from its disposal at the end of its useful
\nlife. Non-financial assets, other than goodwill, that have suffered an impairment, are
\nreviewed for reversal of the impairment whenever events or changes in circumstances
\nindicate that the impairment loss recognised in prior periods may no longer exist or may
\nhave decreased. For more information about Right-of-use assets, refer to Note 17 - Leases.
\nRefer to Note 28 for information about capital commitments.
\nAssets under construction
\nThe carrying value of assets under construction represents the accumulated costs incurred
\nat the balance sheet date and is included in Property, Plant and Equipment in the
\nconsolidated balance sheet.
\nCost components include progress payments, variation orders, construction supervision,
\nequipment, spare parts, capitalised borrowing costs, costs related to first-time mobilisation,
\nand commissioning costs. These costs comprise directly attributable expenditures
\nnecessary to bring the asset to the location and condition required for it to be capable of
\noperating in the manner intended by management.
\nNo charge for depreciation is made until commissioning of the new build has been
\ncompleted, and the asset is available for use in its intended operational condition.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag441": {
"value": "\nThe cost of these assets, less estimated residual value, is depreciated on a straight-line
\nbasis over their estimated remaining economic useful lives. The estimated useful lives of
\nour fixed assets are as follows:
\n\u2022 Buildings: 3 \u2013 50 years
\n\u2022 Drilling and well service equipment: 2 \u2013 30 years
\n\u2022 Office furniture and fixtures: 3 \u2013 10 years
\n\u2022 Motor vehicles: 3 \u2013 7 years
\nWe evaluate the useful lives, residual values, and depreciation methods of our property,
\nplant and equipment on a periodic basis to determine whether events or circumstances
\nwarrant a revision.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\nWe evaluate the useful lives, residual values, and amortisation methods of our intangible
\nassets at least annually to determine whether events and circumstances warrant a revision.
\nAmortisation begins when the asset is available for use, that is, when it is in the condition
\nnecessary for it to be capable of operating in the manner intended by management.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag336": {
"value": "\nExpenditures for replacements or improvements are capitalized when it is probable that
\nfuture economic benefits associated with the item will flow to the Company and the cost
\ncan be measured reliably. Costs related to the reclassification of equipment that extend
\nthe asset\u2019s useful life or enhance its future economic benefits are capitalized as part of
\nproperty, plant and equipment. The capitalized amounts are amortized on a straight\u2011line
\nbasis over five years, reflecting the period over which the Group expects to benefit from
\nthe reclassified costs. Maintenance and repairs are charged to operating expenses as
\nincurred.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag465": {
"value": "\n\n
\n\n\n| Accumulated depreciation andimpairments | \nOperationalequipment | \nOther fixedassets | \nAssetsunderconstruction | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n(762.3) | \n(30.5) | \n\u2014 | \n(792.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deprecation | \n(59.2) | \n(2.4) | \n\u2014 | \n(61.6) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairments | \n(2.7) | \n\u2014 | \n\u2014 | \n(2.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Eliminations on assets disposals | \n5.1 | \n0.0 | \n\u2014 | \n5.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n25.8 | \n3.2 | \n\u2014 | \n29.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n(793.3) | \n(29.7) | \n\u2014 | \n(823.0) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deprecation | \n(56.7) | \n(7.7) | \n\u2014 | \n(64.4) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairments | \n(7.8) | \n\u2014 | \n\u2014 | \n(7.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Eliminations on assets disposals | \n36.2 | \n\u2014 | \n\u2014 | \n36.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Asset held for sale | \n239.3 | \n2.1 | \n\u2014 | \n241.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n10.0 | \n1.0 | \n\u2014 | \n11.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n(572.3) | \n(34.3) | \n\u2014 | \n(606.6) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Useful lifetime | \n2 \u2013 30 years | \n3 \u2013 10 years | \n\u2014 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation schedule | \nStraight line | \nStraight line | \nNotdepreciated | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n | \nRight of useassetsrecognised | \nDepreciation | \nNBV of right ofuse assets | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n53.4 | \n(19.0) | \n34.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n1.4 | \n\u2014 | \n1.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n\u2014 | \n(8.5) | \n(8.5) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n(0.9) | \n\u2014 | \n(0.9) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n53.9 | \n(27.5) | \n26.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n32.5 | \n\u2014 | \n32.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n6.0 | \n(2.3) | \n3.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(1.5) | \n0.9 | \n(0.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n\u2014 | \n(9.7) | \n(9.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n5.3 | \n\u2014 | \n5.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n96.2 | \n(38.6) | \n57.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n| Accumulated depreciationand impairments | \nCustomerrelations | \nTradename | \nOtherintangibleassets | \nInternaldevelopedassets | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n\u2014 | \n\u2014 | \n(3.7) | \n\u2014 | \n(3.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n\u2014 | \n\u2014 | \n(1.7) | \n\u2014 | \n(1.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n\u2014 | \n\u2014 | \n(5.4) | \n\u2014 | \n(5.4) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n(1.4) | \n\u2014 | \n(3.9) | \n\u2014 | \n(5.3) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n(1.4) | \n\u2014 | \n(9.3) | \n\u2014 | \n(10.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag493": {
"value": "\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
Note 13 Intangible assets
\n
Intangible assets are recorded at historical cost less accumulated amortisation and
\n
accumulated impairment losses.
\n
The cost of intangible assets is generally amortised on a straight-line basis over their
\n
estimated remaining economic useful lives, which range from 2 to 20 years.
\n
\n
We evaluate the useful lives, residual values, and amortisation methods of our intangible
\n
assets at least annually to determine whether events and circumstances warrant a revision.
\n
Amortisation begins when the asset is available for use, that is, when it is in the condition
\n
necessary for it to be capable of operating in the manner intended by management.
\n
\n\n\n\n\n\n\n\n\n
\n
Once fully amortised, the intangible asset\u2019s cost and accumulated amortisation remain in
\n
the accounts until the asset is derecognised, either on disposal or when no future economic
\n
benefits are expected from its use.
\n
Trade names under which we intend to trade for the foreseeable future are considered to
\n
have indefinite useful lives and are not amortised. Such assets are tested for impairment
\n
annually, or more frequently if events or changes in circumstances indicate that the asset
\n
may be impaired.
\n
In circumstances where management decides to phase out the use of a trade name, the
\n
relevant cost is amortised to zero over its remaining estimated useful life.
\n
\n
Research expenditures are generally expensed as incurred. However, development
\n
expenditures are capitalised when all the following conditions are met:
\n
1. The technical feasibility of completing the asset so that it will be available for use or
\n
sale can be demonstrated;
\n
2. The Group intends to complete the asset and use or sell it;
\n
3. The asset is expected to generate probable future economic benefits;
\n
4. Adequate technical, financial, and other resources are available to complete the
\n
development; and
\n
5. The expenditure attributable to the asset during its development can be measured
\n
reliably.
\n
Capitalised development costs are amortised on a straight-line basis over the estimated
\n
useful life of the asset once it is available for use.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
In accordance with IFRS 3 Business Combinations, acquired in-process research and
\n
development that meets the definition of an intangible asset is recognised at fair value at
\n
the acquisition date. After initial recognition, such assets are measured at cost less
\n
accumulated amortisation and impairment losses.
\n
\n\n\n\n\n\n
\n
Trade names acquired through business combinations in 2024 and 2025 are recognised
\n
as intangible assets with indefinite useful lives. Management has assessed that the trade
\n
names have indefinite useful lives as they are well\u2011established brands with strong market
\n
recognition, a history of sustained demand, and no foreseeable limit to the period over
\n
which the trade names are expected to generate net cash inflows. There are no legal,
\n
contractual, regulatory, or competitive factors that limit their useful lives. Accordingly, trade
\n
names are not amortised but are tested annually for impairment, or more frequently if
\n
indicators of impairment exist.
\n
Acquired technology is not amortised until it is available for use or ready for marketing.
\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\n
\n
\n
\n\n\n| Cost | \nCustomerrelations | \nTradename | \nOtherintangibleassets | \nInternaldevelopedassets | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n\u2014 | \n\u2014 | \n6.5 | \n\u2014 | \n6.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n\u2014 | \n | \n0.7 | \n4.0 | \n4.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n12.3 | \n1.1 | \n4.2 | \n\u2014 | \n17.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n12.3 | \n1.0 | \n11.4 | \n4.0 | \n28.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n- | \n | \n5.1 | \n5.3 | \n10.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n2.2 | \n1.0 | \n1.1 | \n\u2014 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n14.5 | \n2.1 | \n17.6 | \n9.3 | \n43.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n\n\n| Accumulated depreciationand impairments | \nCustomerrelations | \nTradename | \nOtherintangibleassets | \nInternaldevelopedassets | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n\u2014 | \n\u2014 | \n(3.7) | \n\u2014 | \n(3.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n\u2014 | \n\u2014 | \n(1.7) | \n\u2014 | \n(1.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n\u2014 | \n\u2014 | \n(5.4) | \n\u2014 | \n(5.4) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n(1.4) | \n\u2014 | \n(3.9) | \n\u2014 | \n(5.3) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n(1.4) | \n\u2014 | \n(9.3) | \n\u2014 | \n(10.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n| Useful lifetime | \n10 years | \nIndefinite | \n2-10 | \n10 years | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nyears | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation schedule | \nStraight | \n | \nStraight | \nStraight | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nline | \n | \nline | \nline | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value 31 December | \n13.1 | \n2.1 | \n8.1 | \n9.3 | \n32.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value 31 December | \n12.3 | \n1.1 | \n6.0 | \n4.0 | \n23.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
During the year, research and development expenditure of $4.1 million was recognised as
\n
an expense (2024: $0.0 million). Development costs of $5.3 million were capitalised as
\n
intangible assets (2024: $4.0 million).
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
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Note 14 Goodwill
\n
We allocate the cost of acquired businesses to the identifiable tangible and intangible assets
\n
and liabilities acquired, with any excess of the purchase consideration over the fair value
\n
of the identifiable net assets recognised as goodwill.
\n
Goodwill is not amortised, but is tested for impairment at least annually, and whenever
\n
events or changes in circumstances indicate that the carrying amount may not be
\n
recoverable.
\n
For the purpose of impairment testing, goodwill is allocated to the cash-generating units
\n
(CGUs) or groups of CGUs that are expected to benefit from the business combination in
\n
which the goodwill arose. Each CGU represents the lowest level within the Group at which
\n
goodwill is monitored for internal management purposes and is not larger than an operating
\n
segment.
\n
Goodwill is tested for impairment by comparing the carrying amount of the CGU, including
\n
the allocated goodwill, to its recoverable amount, which is defined as the higher of fair value
\n
less costs of disposal and value in use.
\n
If the recoverable amount of the CGU is less than its carrying amount, an impairment loss
\n
is recognised immediately in the consolidated statement of operations. Impairment losses
\n
on goodwill are not reversed in subsequent periods.
\n
The recoverable amount of each CGU is generally determined using the income approach,
\n
based on a discounted cash flow model that incorporates management\u2019s best estimates
\n
of future cash flows, terminal values, and discount rates.
\n
Cash flow projections reflect management\u2019s expectations of economic and market
\n
conditions that influence key assumptions such as revenue growth rates, operating margins,
\n
and capital expenditures. The discount rate reflects current market assessments of the time
\n
value of money and the risks specific to the CGU.
\n
There are inherent uncertainties involved in estimating recoverable amounts, including
\n
assumptions regarding future market conditions, growth rates, and discount rates.
\n
\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
Goodwill
\n
\n
\n\n\n| (In USD millions) | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| Net book balance 1 January 2024 | \n156.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired in relation to the Vertikal Services AS | \n3.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired in relation to the ADA Argentina SRL | \n1.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired in relation to Wellbore Rental and Fishing LLC | \n26.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n(13.3) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book balance at 31 December 2024 | \n174.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired on purchase of WellConnection Norway AS | \n2.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired on purchase of Premium Oilfield Services LLC | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n16.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book balance at 31 December 2025 | \n196.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
The majority of our goodwill relates to our Platform Operation and Well Services reporting
\n
segment. These divisions have seen improved results in the last couple of years, and they
\n
have a solid contract backlog for the next 3-5 years. Based on the combined improved
\n
results, order backlog and forecasts, we identified no impairment indicators at 31 December
\n
2025.
\n
Summary of carrying amount of goodwill allocation for each operating segment
\n
\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Platform Operations | \n78.2 | \n70.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Well Services | \n112.9 | \n98.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Land Drilling | \n1.7 | \n1.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Renewables | \n3.4 | \n3.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n196.2 | \n174.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag496": {
"value": "\n
\n\n
\n
\n
\n
\n
\n
\n
Note 13 Intangible assets
\n
Intangible assets are recorded at historical cost less accumulated amortisation and
\n
accumulated impairment losses.
\n
The cost of intangible assets is generally amortised on a straight-line basis over their
\n
estimated remaining economic useful lives, which range from 2 to 20 years.
\n
\n
We evaluate the useful lives, residual values, and amortisation methods of our intangible
\n
assets at least annually to determine whether events and circumstances warrant a revision.
\n
Amortisation begins when the asset is available for use, that is, when it is in the condition
\n
necessary for it to be capable of operating in the manner intended by management.
\n
\n\n\n\n\n\n\n\n\n
\n
Once fully amortised, the intangible asset\u2019s cost and accumulated amortisation remain in
\n
the accounts until the asset is derecognised, either on disposal or when no future economic
\n
benefits are expected from its use.
\n
Trade names under which we intend to trade for the foreseeable future are considered to
\n
have indefinite useful lives and are not amortised. Such assets are tested for impairment
\n
annually, or more frequently if events or changes in circumstances indicate that the asset
\n
may be impaired.
\n
In circumstances where management decides to phase out the use of a trade name, the
\n
relevant cost is amortised to zero over its remaining estimated useful life.
\n
\n
Research expenditures are generally expensed as incurred. However, development
\n
expenditures are capitalised when all the following conditions are met:
\n
1. The technical feasibility of completing the asset so that it will be available for use or
\n
sale can be demonstrated;
\n
2. The Group intends to complete the asset and use or sell it;
\n
3. The asset is expected to generate probable future economic benefits;
\n
4. Adequate technical, financial, and other resources are available to complete the
\n
development; and
\n
5. The expenditure attributable to the asset during its development can be measured
\n
reliably.
\n
Capitalised development costs are amortised on a straight-line basis over the estimated
\n
useful life of the asset once it is available for use.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n
\n
\n
\n
\n
\n
In accordance with IFRS 3 Business Combinations, acquired in-process research and
\n
development that meets the definition of an intangible asset is recognised at fair value at
\n
the acquisition date. After initial recognition, such assets are measured at cost less
\n
accumulated amortisation and impairment losses.
\n
\n\n\n\n\n\n
\n
Trade names acquired through business combinations in 2024 and 2025 are recognised
\n
as intangible assets with indefinite useful lives. Management has assessed that the trade
\n
names have indefinite useful lives as they are well\u2011established brands with strong market
\n
recognition, a history of sustained demand, and no foreseeable limit to the period over
\n
which the trade names are expected to generate net cash inflows. There are no legal,
\n
contractual, regulatory, or competitive factors that limit their useful lives. Accordingly, trade
\n
names are not amortised but are tested annually for impairment, or more frequently if
\n
indicators of impairment exist.
\n
Acquired technology is not amortised until it is available for use or ready for marketing.
\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\n
\n
\n\n\n| Cost | \nCustomerrelations | \nTradename | \nOtherintangibleassets | \nInternaldevelopedassets | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n\u2014 | \n\u2014 | \n6.5 | \n\u2014 | \n6.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n\u2014 | \n | \n0.7 | \n4.0 | \n4.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n12.3 | \n1.1 | \n4.2 | \n\u2014 | \n17.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n12.3 | \n1.0 | \n11.4 | \n4.0 | \n28.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n- | \n | \n5.1 | \n5.3 | \n10.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n2.2 | \n1.0 | \n1.1 | \n\u2014 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n14.5 | \n2.1 | \n17.6 | \n9.3 | \n43.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n
\n
\n\n\n| Accumulated depreciationand impairments | \nCustomerrelations | \nTradename | \nOtherintangibleassets | \nInternaldevelopedassets | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n\u2014 | \n\u2014 | \n(3.7) | \n\u2014 | \n(3.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n\u2014 | \n\u2014 | \n(1.7) | \n\u2014 | \n(1.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n\u2014 | \n\u2014 | \n(5.4) | \n\u2014 | \n(5.4) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n(1.4) | \n\u2014 | \n(3.9) | \n\u2014 | \n(5.3) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n(1.4) | \n\u2014 | \n(9.3) | \n\u2014 | \n(10.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n| Useful lifetime | \n10 years | \nIndefinite | \n2-10 | \n10 years | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nyears | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation schedule | \nStraight | \n | \nStraight | \nStraight | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nline | \n | \nline | \nline | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value 31 December | \n13.1 | \n2.1 | \n8.1 | \n9.3 | \n32.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value 31 December | \n12.3 | \n1.1 | \n6.0 | \n4.0 | \n23.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
During the year, research and development expenditure of $4.1 million was recognised as
\nan expense (2024: $0.0 million). Development costs of $5.3 million were capitalised as
\nintangible assets (2024: $4.0 million).
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag443": {
"value": "\n
\n\n
\n
\n
Note 13 Intangible assets
\n
Intangible assets are recorded at historical cost less accumulated amortisation and
\n
accumulated impairment losses.
\n
The cost of intangible assets is generally amortised on a straight-line basis over their
\n
estimated remaining economic useful lives, which range from 2 to 20 years.
\n
\n
We evaluate the useful lives, residual values, and amortisation methods of our intangible
\n
assets at least annually to determine whether events and circumstances warrant a revision.
\n
Amortisation begins when the asset is available for use, that is, when it is in the condition
\n
necessary for it to be capable of operating in the manner intended by management.
\n
\n\n\n\n\n\n\n\n\n
\n
Once fully amortised, the intangible asset\u2019s cost and accumulated amortisation remain in
\n
the accounts until the asset is derecognised, either on disposal or when no future economic
\n
benefits are expected from its use.
\n
Trade names under which we intend to trade for the foreseeable future are considered to
\n
have indefinite useful lives and are not amortised. Such assets are tested for impairment
\n
annually, or more frequently if events or changes in circumstances indicate that the asset
\n
may be impaired.
\n
In circumstances where management decides to phase out the use of a trade name, the
\n
relevant cost is amortised to zero over its remaining estimated useful life.
\n
\n
Research expenditures are generally expensed as incurred. However, development
\n
expenditures are capitalised when all the following conditions are met:
\n
1. The technical feasibility of completing the asset so that it will be available for use or
\n
sale can be demonstrated;
\n
2. The Group intends to complete the asset and use or sell it;
\n
3. The asset is expected to generate probable future economic benefits;
\n
4. Adequate technical, financial, and other resources are available to complete the
\n
development; and
\n
5. The expenditure attributable to the asset during its development can be measured
\n
reliably.
\n
Capitalised development costs are amortised on a straight-line basis over the estimated
\n
useful life of the asset once it is available for use.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
Note 14 Goodwill
\n
We allocate the cost of acquired businesses to the identifiable tangible and intangible assets
\n
and liabilities acquired, with any excess of the purchase consideration over the fair value
\n
of the identifiable net assets recognised as goodwill.
\n
Goodwill is not amortised, but is tested for impairment at least annually, and whenever
\n
events or changes in circumstances indicate that the carrying amount may not be
\n
recoverable.
\n
For the purpose of impairment testing, goodwill is allocated to the cash-generating units
\n
(CGUs) or groups of CGUs that are expected to benefit from the business combination in
\n
which the goodwill arose. Each CGU represents the lowest level within the Group at which
\n
goodwill is monitored for internal management purposes and is not larger than an operating
\n
segment.
\n
Goodwill is tested for impairment by comparing the carrying amount of the CGU, including
\n
the allocated goodwill, to its recoverable amount, which is defined as the higher of fair value
\n
less costs of disposal and value in use.
\n
If the recoverable amount of the CGU is less than its carrying amount, an impairment loss
\n
is recognised immediately in the consolidated statement of operations. Impairment losses
\n
on goodwill are not reversed in subsequent periods.
\n
The recoverable amount of each CGU is generally determined using the income approach,
\n
based on a discounted cash flow model that incorporates management\u2019s best estimates
\n
of future cash flows, terminal values, and discount rates.
\n
Cash flow projections reflect management\u2019s expectations of economic and market
\n
conditions that influence key assumptions such as revenue growth rates, operating margins,
\n
and capital expenditures. The discount rate reflects current market assessments of the time
\n
value of money and the risks specific to the CGU.
\n
There are inherent uncertainties involved in estimating recoverable amounts, including
\n
assumptions regarding future market conditions, growth rates, and discount rates.
\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
In accordance with IFRS 3 Business Combinations, acquired in-process research and
\n
development that meets the definition of an intangible asset is recognised at fair value at
\n
the acquisition date. After initial recognition, such assets are measured at cost less
\n
accumulated amortisation and impairment losses.
\n
\n\n\n\n\n\n
\n
Trade names acquired through business combinations in 2024 and 2025 are recognised
\n
as intangible assets with indefinite useful lives. Management has assessed that the trade
\n
names have indefinite useful lives as they are well\u2011established brands with strong market
\n
recognition, a history of sustained demand, and no foreseeable limit to the period over
\n
which the trade names are expected to generate net cash inflows. There are no legal,
\n
contractual, regulatory, or competitive factors that limit their useful lives. Accordingly, trade
\n
names are not amortised but are tested annually for impairment, or more frequently if
\n
indicators of impairment exist.
\n
Acquired technology is not amortised until it is available for use or ready for marketing.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag446": {
"value": "\n
\n
\nNote 13 Intangible assets
\nIntangible assets are recorded at historical cost less accumulated amortisation and
\naccumulated impairment losses.
\nThe cost of intangible assets is generally amortised on a straight-line basis over their
\nestimated remaining economic useful lives, which range from 2 to 20 years.
\n\n
We evaluate the useful lives, residual values, and amortisation methods of our intangible
\n
assets at least annually to determine whether events and circumstances warrant a revision.
\n
Amortisation begins when the asset is available for use, that is, when it is in the condition
\n
necessary for it to be capable of operating in the manner intended by management.
\n
\n\n\n\n\n\n\n\n\n
Once fully amortised, the intangible asset\u2019s cost and accumulated amortisation remain in
\nthe accounts until the asset is derecognised, either on disposal or when no future economic
\nbenefits are expected from its use.
\nTrade names under which we intend to trade for the foreseeable future are considered to
\nhave indefinite useful lives and are not amortised. Such assets are tested for impairment
\nannually, or more frequently if events or changes in circumstances indicate that the asset
\nmay be impaired.
\nIn circumstances where management decides to phase out the use of a trade name, the
\nrelevant cost is amortised to zero over its remaining estimated useful life.
\n\n
Research expenditures are generally expensed as incurred. However, development
\n
expenditures are capitalised when all the following conditions are met:
\n
1. The technical feasibility of completing the asset so that it will be available for use or
\n
sale can be demonstrated;
\n
2. The Group intends to complete the asset and use or sell it;
\n
3. The asset is expected to generate probable future economic benefits;
\n
4. Adequate technical, financial, and other resources are available to complete the
\n
development; and
\n
5. The expenditure attributable to the asset during its development can be measured
\n
reliably.
\n
Capitalised development costs are amortised on a straight-line basis over the estimated
\n
useful life of the asset once it is available for use.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
In accordance with IFRS 3 Business Combinations, acquired in-process research and
\n
development that meets the definition of an intangible asset is recognised at fair value at
\n
the acquisition date. After initial recognition, such assets are measured at cost less
\n
accumulated amortisation and impairment losses.
\n
\n\n\n\n\n\n
Trade names acquired through business combinations in 2024 and 2025 are recognised
\nas intangible assets with indefinite useful lives. Management has assessed that the trade
\nnames have indefinite useful lives as they are well\u2011established brands with strong market
\nrecognition, a history of sustained demand, and no foreseeable limit to the period over
\nwhich the trade names are expected to generate net cash inflows. There are no legal,
\ncontractual, regulatory, or competitive factors that limit their useful lives. Accordingly, trade
\nnames are not amortised but are tested annually for impairment, or more frequently if
\nindicators of impairment exist.
\nAcquired technology is not amortised until it is available for use or ready for marketing.
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag450": {
"value": "\nResearch expenditures are generally expensed as incurred. However, development
\nexpenditures are capitalised when all the following conditions are met:
\n1. The technical feasibility of completing the asset so that it will be available for use or
\nsale can be demonstrated;
\n2. The Group intends to complete the asset and use or sell it;
\n3. The asset is expected to generate probable future economic benefits;
\n4. Adequate technical, financial, and other resources are available to complete the
\ndevelopment; and
\n5. The expenditure attributable to the asset during its development can be measured
\nreliably.
\nCapitalised development costs are amortised on a straight-line basis over the estimated
\nuseful life of the asset once it is available for use.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\nIn accordance with IFRS 3 Business Combinations, acquired in-process research and
\ndevelopment that meets the definition of an intangible asset is recognised at fair value at
\nthe acquisition date. After initial recognition, such assets are measured at cost less
\naccumulated amortisation and impairment losses.
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag337": {
"value": "\n
\n
\n\n
\n
\n
\n
\n
Note 14 Goodwill
\n
We allocate the cost of acquired businesses to the identifiable tangible and intangible assets
\n
and liabilities acquired, with any excess of the purchase consideration over the fair value
\n
of the identifiable net assets recognised as goodwill.
\n
Goodwill is not amortised, but is tested for impairment at least annually, and whenever
\n
events or changes in circumstances indicate that the carrying amount may not be
\n
recoverable.
\n
For the purpose of impairment testing, goodwill is allocated to the cash-generating units
\n
(CGUs) or groups of CGUs that are expected to benefit from the business combination in
\n
which the goodwill arose. Each CGU represents the lowest level within the Group at which
\n
goodwill is monitored for internal management purposes and is not larger than an operating
\n
segment.
\n
Goodwill is tested for impairment by comparing the carrying amount of the CGU, including
\n
the allocated goodwill, to its recoverable amount, which is defined as the higher of fair value
\n
less costs of disposal and value in use.
\n
If the recoverable amount of the CGU is less than its carrying amount, an impairment loss
\n
is recognised immediately in the consolidated statement of operations. Impairment losses
\n
on goodwill are not reversed in subsequent periods.
\n
The recoverable amount of each CGU is generally determined using the income approach,
\n
based on a discounted cash flow model that incorporates management\u2019s best estimates
\n
of future cash flows, terminal values, and discount rates.
\n
Cash flow projections reflect management\u2019s expectations of economic and market
\n
conditions that influence key assumptions such as revenue growth rates, operating margins,
\n
and capital expenditures. The discount rate reflects current market assessments of the time
\n
value of money and the risks specific to the CGU.
\n
There are inherent uncertainties involved in estimating recoverable amounts, including
\n
assumptions regarding future market conditions, growth rates, and discount rates.
\n
\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
Goodwill
\n\n
\n\n\n| (In USD millions) | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| Net book balance 1 January 2024 | \n156.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired in relation to the Vertikal Services AS | \n3.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired in relation to the ADA Argentina SRL | \n1.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired in relation to Wellbore Rental and Fishing LLC | \n26.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n(13.3) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book balance at 31 December 2024 | \n174.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired on purchase of WellConnection Norway AS | \n2.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Goodwill acquired on purchase of Premium Oilfield Services LLC | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n16.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book balance at 31 December 2025 | \n196.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
The majority of our goodwill relates to our Platform Operation and Well Services reporting
\nsegment. These divisions have seen improved results in the last couple of years, and they
\nhave a solid contract backlog for the next 3-5 years. Based on the combined improved
\nresults, order backlog and forecasts, we identified no impairment indicators at 31 December
\n2025.
\nSummary of carrying amount of goodwill allocation for each operating segment
\n\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Platform Operations | \n78.2 | \n70.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Well Services | \n112.9 | \n98.9 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Land Drilling | \n1.7 | \n1.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Renewables | \n3.4 | \n3.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n196.2 | \n174.0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag338": {
"value": "\nNote 14 Goodwill
\nWe allocate the cost of acquired businesses to the identifiable tangible and intangible assets
\nand liabilities acquired, with any excess of the purchase consideration over the fair value
\nof the identifiable net assets recognised as goodwill.
\nGoodwill is not amortised, but is tested for impairment at least annually, and whenever
\nevents or changes in circumstances indicate that the carrying amount may not be
\nrecoverable.
\nFor the purpose of impairment testing, goodwill is allocated to the cash-generating units
\n(CGUs) or groups of CGUs that are expected to benefit from the business combination in
\nwhich the goodwill arose. Each CGU represents the lowest level within the Group at which
\ngoodwill is monitored for internal management purposes and is not larger than an operating
\nsegment.
\nGoodwill is tested for impairment by comparing the carrying amount of the CGU, including
\nthe allocated goodwill, to its recoverable amount, which is defined as the higher of fair value
\nless costs of disposal and value in use.
\nIf the recoverable amount of the CGU is less than its carrying amount, an impairment loss
\nis recognised immediately in the consolidated statement of operations. Impairment losses
\non goodwill are not reversed in subsequent periods.
\nThe recoverable amount of each CGU is generally determined using the income approach,
\nbased on a discounted cash flow model that incorporates management\u2019s best estimates
\nof future cash flows, terminal values, and discount rates.
\nCash flow projections reflect management\u2019s expectations of economic and market
\nconditions that influence key assumptions such as revenue growth rates, operating margins,
\nand capital expenditures. The discount rate reflects current market assessments of the time
\nvalue of money and the risks specific to the CGU.
\nThere are inherent uncertainties involved in estimating recoverable amounts, including
\nassumptions regarding future market conditions, growth rates, and discount rates.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag486": {
"value": "\n
\n
\n
\n\n
\n
\n
\n
\n
Note 15 Impairment of Assets
\n
Accounting policy
\n
An impairment loss is recognised when the carrying amount of an asset or cash-generating
\n
unit exceeds its recoverable amount, which is the higher of fair value less costs of disposal
\n
and value in use. Value in use is calculated by discounting the estimated future cash flows
\n
expected to arise from the asset or CGU using a pre-tax discount rate that reflects current
\n
market assessments of the time value of money and the risks specific to the asset.
\n
When determining fair value less costs of disposal, the Group uses the best available market
\n
evidence, including recent transaction prices for similar assets, broker valuations, or
\n
discounted cash flow analyses where appropriate.
\n
Impairment losses are recognised in the consolidated statement of operations. For assets
\n
other than goodwill, impairment losses are reversed if there has been a change in the
\n
estimates used to determine the recoverable amount, but only to the extent that the asset\u2019s
\n
carrying amount does not exceed the carrying amount that would have been determined
\n
had no impairment loss been recognised.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
During 2025, the Group recognised total impairment losses of $33.1 million (2024: $2.7
\nmillion). Of this amount $25.3 million relates to the impairment recognised in connection
\nwith the sale of the workover business in southern Argentina, as described in Note 18 Asset
\nheld for sale. The remaining $7.8 million relates to impairment charges recognized on
\nProperty, plant and equipment.
\nIn 2024 the impairments related to rigs and land drilling equipment in our South American
\nbusiness. All impairments were recognised as part of our annual detailed review of fixed
\nassets and assessment of carrying values.
\nSignificant judgement exercised
\nThe determination of recoverable amounts involves significant judgement, particularly in
\nassessing future cash flows, discount rates, market conditions, and the expected useful
\nlives of assets. These judgements reflect both internal expectations and external factors
\nsuch as drilling activity levels, commodity market trends, interest rates, and foreign
\nexchange rates.
\nAs recoverable amount estimates rely on assumptions about inherently uncertain future
\ndevelopments, actual outcomes may differ from those estimated. Reasonably possible
\nchanges in assumptions could lead to material adjustments to carrying amounts in the next
\nfinancial year. The Group considers the most sensitive assumptions to be:
\n\u2022 forecast cash flows;
\n\u2022 discount rates;
\n\u2022 long\u2011term growth rates;
\n\u2022 expected utilisation levels; and
\n\u2022 asset residual values.
\nIn developing recoverable amounts, the Group uses independent external valuations where
\nrelevant, particularly for land rigs for which active secondary markets exist.
\nImpairment testing of Goodwill
\nGoodwill is tested for impairment annually during the fourth quarter, or more frequently if
\nevents or changes in circumstances indicate that its carrying amount may not be
\nrecoverable. Impairment testing requires significant judgement regarding the future
\nperformance of the applicable CGUs, including:
\n\u2022 projected cash flows for each CGU;
\n\u2022 discount rates applied to those cash flows;
\n\u2022 long\u2011term growth rates; and
\n\u2022 market\u2011based valuation benchmarks.
\nIf market conditions deteriorate or performance expectations decline, the Group may be
\nrequired to recognise an impairment of goodwill, and such impairment could be material.
\nRecoverable amounts for goodwill\u2011containing CGUs for 2025 were determined using the
\nvalue in use method.
\nKey assumptions included:
\n\u2022 Cash flow: Board\u2011approved budgets and management forecasts
\n\u2022 Pre\u2011tax discount rate: 11.25%
\n\u2022 Long\u2011term growth rate: -1% - +5%
\n\u2022 Forecast period: 8 years
\nA sensitivity analysis indicated that a reasonably possible change in key assumptions
\n(increase in discount rate by 2 bps, or decrease in cash flows by 5%) would not result in
\nthe carrying amount exceeding the recoverable amount.
\nImpairment testing of Intangible Assets
\nWe test intangible assets for impairment in accordance with IAS 36 Impairment of Assets.
\nIntangible assets with indefinite useful lives are tested for impairment annually during the
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\nfourth quarter, and whenever events or changes in circumstances indicate that the carrying
\namount may not be recoverable. Intangible assets with finite useful lives are tested for
\nimpairment only when such indicators exist.
\nImpairment testing of Assets
\nOur long-lived assets predominantly consist of land drilling rigs and equipment utilised by
\nour Land drilling division in South America and on Iceland, and our two modular rigs. The
\ncarrying values of these assets are reviewed for potential impairment whenever events or
\nchanges in circumstances indicate that the carrying amount of a particular asset, or group
\nof assets, may not be fully recoverable, and at least once each year as part of our annual
\nreporting routine.
\nDuring the fourth quarter of 2025, Archer recognised a total impairment charge of $7.8
\nmillion related to fixed assets (2024: $2.7 million). The impairments recorded in 2025
\nprimarily related to two land rigs located in Iceland and Argentina, driven by updated
\nassessments of expected utilisation levels, contract visibility, and revised forward cash flow
\nestimates. In addition, the Group recorded minor impairment charges totalling $1.6 million.
\nGeothermal Drilling Rig (Renewables Division)
\nThe geothermal drilling rig (\u201cTyr\u201d) was tested for impairment as a standalone CGU. The
\nrecoverable amount was determined using a value in use model based on updated cash
\nflow projections over the asset\u2019s remaining useful life of 20 years, including an estimated
\nterminal value with a long\u2011term growth rate of 2.5%.
\nKey value in use assumptions
\n\u2022 Cash flow: Board\u2011approved budgets and management forecasts
\n\u2022 Pre\u2011tax discount rate: 8.87%
\n\u2022 Long\u2011term growth rate: 2.5%
\n\u2022 Remaining useful life: 20 years
\nThe recoverable amount was calculated at $7.1 million, resulting in an impairment charge
\nof $1.1 million, reducing the carrying amount to $7.1 million. Future depreciation charges
\nwill reflect this revised amount.
\nSensitivity analysis:
\nA reasonably possible change in key assumptions would further reduce recoverable
\namount:
\n\u2022 +0.5% increase in the discount rate \u2192 decrease in value in use by $0.4 million
\n\u2022 \u201310% reduction in forecast cash flows \u2192 decrease in value in use by $0.7 million
\nLand Drilling Rig (Land Drilling Division)
\nAs part of the impairment review, the Group identified one land rig whose carrying amount
\nexceeded its recoverable amount. Due to the absence of expected future cash inflows,
\nValue in use was determined to be zero. An independent external valuation was obtained
\nto determine fair value less costs of disposal.
\nThe external valuation indicated a recoverable amount below the previous carrying amount,
\nand an impairment charge of $5.1 million has been recognised. The carrying amount of the
\nland rig has therefore been reduced to $11.2 million (fair value), and depreciation going
\nforward will be calculated based on this revised amount.
\nKey unobservable inputs in the valuation included:
\n\u2022 benchmark pricing for comparable rig sales;
\n\u2022 estimated resale market discount rates;
\n\u2022 expected time to sale;
\n\u2022 costs of disposal.
\nFuture fluctuations in demand and pricing for similar rigs may result in additional impairment
\ncharges or reversals in future periods.
\nAssets held for sale
\nIn addition to the specific impairment charges calculated per rig, at 31 December 2025 we
\nrecognised a further impairment charge of $25.3 million following negotiations during the
\nforth quarter of 2025 for the sale of part of our land drilling business. See Note 18 Asset
\nheld for sale for further information on assets held for sale.
\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag339": {
"value": "\n
\n\n
Note 15 Impairment of Assets
\n
Accounting policy
\n
An impairment loss is recognised when the carrying amount of an asset or cash-generating
\n
unit exceeds its recoverable amount, which is the higher of fair value less costs of disposal
\n
and value in use. Value in use is calculated by discounting the estimated future cash flows
\n
expected to arise from the asset or CGU using a pre-tax discount rate that reflects current
\n
market assessments of the time value of money and the risks specific to the asset.
\n
When determining fair value less costs of disposal, the Group uses the best available market
\n
evidence, including recent transaction prices for similar assets, broker valuations, or
\n
discounted cash flow analyses where appropriate.
\n
Impairment losses are recognised in the consolidated statement of operations. For assets
\n
other than goodwill, impairment losses are reversed if there has been a change in the
\n
estimates used to determine the recoverable amount, but only to the extent that the asset\u2019s
\n
carrying amount does not exceed the carrying amount that would have been determined
\n
had no impairment loss been recognised.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag340": {
"value": "\nNote 15 Impairment of Assets
\nAccounting policy
\nAn impairment loss is recognised when the carrying amount of an asset or cash-generating
\nunit exceeds its recoverable amount, which is the higher of fair value less costs of disposal
\nand value in use. Value in use is calculated by discounting the estimated future cash flows
\nexpected to arise from the asset or CGU using a pre-tax discount rate that reflects current
\nmarket assessments of the time value of money and the risks specific to the asset.
\nWhen determining fair value less costs of disposal, the Group uses the best available market
\nevidence, including recent transaction prices for similar assets, broker valuations, or
\ndiscounted cash flow analyses where appropriate.
\nImpairment losses are recognised in the consolidated statement of operations. For assets
\nother than goodwill, impairment losses are reversed if there has been a change in the
\nestimates used to determine the recoverable amount, but only to the extent that the asset\u2019s
\ncarrying amount does not exceed the carrying amount that would have been determined
\nhad no impairment loss been recognised.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag341": {
"value": "\n
\n\n
\n
\n
Note 16 Investments in Associates and Joint Ventures
\n
Investments in which we have the ability to exercise significant influence, but do not control
\n
or jointly control, are accounted for under the equity method of accounting and are reported
\n
under Investments in associates and joint ventures in the Consolidated Balance Sheet.
\n
Significant influence is generally deemed to exist if the Company has an ownership interest
\n
in the voting stock of the investee between 20 percent and 50 percent, although other
\n
factors such as representation on the investee\u2019s Board of Directors and the nature of
\n
commercial arrangements are considered in determining whether the equity method of
\n
accounting is appropriate.
\n
Investments in which the Company exercises joint control together with one or more parties,
\n
whereby decisions about the relevant activities require the unanimous consent of the parties
\n
sharing control, are also accounted for under the equity method of accounting.
\n
Under this method of accounting, our share of the net earnings or losses of the investee,
\n
together with our share of other comprehensive income, impairment losses, and gains or
\n
losses on sale of such investments, is reported under Share of gains/losses of associates
\n
and joint ventures in the Consolidated Statement of Operations.
\n
We evaluate our equity method investments whenever events or changes in circumstances
\n
indicate that the carrying amounts of such investments may be impaired. If the recoverable
\n
amount of an equity method investment (being the highest of its fair value less costs of
\n
disposal and its value in use) is less than its carrying amount, an impairment loss is recorded
\n
in earnings in the current period in accordance with IAS 36 \u2013 Impairment of Assets. If the
\n
recoverable amount subsequently increases, the impairment loss is reversed in the period
\n
of recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag342": {
"value": "\n
\n\n
Note 16 Investments in Associates and Joint Ventures
\n
Investments in which we have the ability to exercise significant influence, but do not control
\n
or jointly control, are accounted for under the equity method of accounting and are reported
\n
under Investments in associates and joint ventures in the Consolidated Balance Sheet.
\n
Significant influence is generally deemed to exist if the Company has an ownership interest
\n
in the voting stock of the investee between 20 percent and 50 percent, although other
\n
factors such as representation on the investee\u2019s Board of Directors and the nature of
\n
commercial arrangements are considered in determining whether the equity method of
\n
accounting is appropriate.
\n
Investments in which the Company exercises joint control together with one or more parties,
\n
whereby decisions about the relevant activities require the unanimous consent of the parties
\n
sharing control, are also accounted for under the equity method of accounting.
\n
Under this method of accounting, our share of the net earnings or losses of the investee,
\n
together with our share of other comprehensive income, impairment losses, and gains or
\n
losses on sale of such investments, is reported under Share of gains/losses of associates
\n
and joint ventures in the Consolidated Statement of Operations.
\n
We evaluate our equity method investments whenever events or changes in circumstances
\n
indicate that the carrying amounts of such investments may be impaired. If the recoverable
\n
amount of an equity method investment (being the highest of its fair value less costs of
\n
disposal and its value in use) is less than its carrying amount, an impairment loss is recorded
\n
in earnings in the current period in accordance with IAS 36 \u2013 Impairment of Assets. If the
\n
recoverable amount subsequently increases, the impairment loss is reversed in the period
\n
of recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag343": {
"value": "\nNote 16 Investments in Associates and Joint Ventures
\nInvestments in which we have the ability to exercise significant influence, but do not control
\nor jointly control, are accounted for under the equity method of accounting and are reported
\nunder Investments in associates and joint ventures in the Consolidated Balance Sheet.
\nSignificant influence is generally deemed to exist if the Company has an ownership interest
\nin the voting stock of the investee between 20 percent and 50 percent, although other
\nfactors such as representation on the investee\u2019s Board of Directors and the nature of
\ncommercial arrangements are considered in determining whether the equity method of
\naccounting is appropriate.
\nInvestments in which the Company exercises joint control together with one or more parties,
\nwhereby decisions about the relevant activities require the unanimous consent of the parties
\nsharing control, are also accounted for under the equity method of accounting.
\nUnder this method of accounting, our share of the net earnings or losses of the investee,
\ntogether with our share of other comprehensive income, impairment losses, and gains or
\nlosses on sale of such investments, is reported under Share of gains/losses of associates
\nand joint ventures in the Consolidated Statement of Operations.
\nWe evaluate our equity method investments whenever events or changes in circumstances
\nindicate that the carrying amounts of such investments may be impaired. If the recoverable
\namount of an equity method investment (being the highest of its fair value less costs of
\ndisposal and its value in use) is less than its carrying amount, an impairment loss is recorded
\nin earnings in the current period in accordance with IAS 36 \u2013 Impairment of Assets. If the
\nrecoverable amount subsequently increases, the impairment loss is reversed in the period
\nof recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag501": {
"value": "\n
\n\n
\n
\n
Based on the shareholders\u2019 agreements, key decisions relating to strategic, operational
\n
and financial matters require the consent of both shareholders, and the co\u2011investor holds
\n
substantive participating rights that prevent the Group from unilaterally directing the relevant
\n
activities of the entities. Accordingly, the Group does not control the Archer Elemental
\n
entities, but exercises significant influence, and the investments are therefore accounted
\n
for using the equity method.
\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Note 16 Investments in Associates and Joint Ventures
\n
Investments in which we have the ability to exercise significant influence, but do not control
\n
or jointly control, are accounted for under the equity method of accounting and are reported
\n
under Investments in associates and joint ventures in the Consolidated Balance Sheet.
\n
Significant influence is generally deemed to exist if the Company has an ownership interest
\n
in the voting stock of the investee between 20 percent and 50 percent, although other
\n
factors such as representation on the investee\u2019s Board of Directors and the nature of
\n
commercial arrangements are considered in determining whether the equity method of
\n
accounting is appropriate.
\n
Investments in which the Company exercises joint control together with one or more parties,
\n
whereby decisions about the relevant activities require the unanimous consent of the parties
\n
sharing control, are also accounted for under the equity method of accounting.
\n
Under this method of accounting, our share of the net earnings or losses of the investee,
\n
together with our share of other comprehensive income, impairment losses, and gains or
\n
losses on sale of such investments, is reported under Share of gains/losses of associates
\n
and joint ventures in the Consolidated Statement of Operations.
\n
We evaluate our equity method investments whenever events or changes in circumstances
\n
indicate that the carrying amounts of such investments may be impaired. If the recoverable
\n
amount of an equity method investment (being the highest of its fair value less costs of
\n
disposal and its value in use) is less than its carrying amount, an impairment loss is recorded
\n
in earnings in the current period in accordance with IAS 36 \u2013 Impairment of Assets. If the
\n
recoverable amount subsequently increases, the impairment loss is reversed in the period
\n
of recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
There are no significant statutory, contractual or regulatory restrictions that limit the Group\u2019s
\n
ability to access or use the assets, or to settle the liabilities, of its associated companies.
\n
We have the following participation in investments that are recorded using the equity
\n
method:
\n
\n
\n\n\n | \n 31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| DSolve AS | \n20% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Archer Elemental UK | \n60% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Archer Elemental Norway AS | \n60% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
The carrying amounts of our investments in our equity method investment are as follows:
\n
\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Initial investment in DSolve AS | \n3.6 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share of net results since acquisition | \n0.1 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustment | \n0.3 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reported investment in associates | \n4.0 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
DSolve
\n
During the nine months of 2025, we paid $2.15 million to acquire 20% of a dSolve AS (or
\n
\"DSolve\") an unrelated, startup-company based in Trondheim, Norway, with the vision to
\n
pioneer rigless subsea plugging & abandonment, using electrochemical steel removal
\n
technology. The share purchase agreement provides Archer with an option to purchase the
\n
remaining 80% of thee company in the future, after twelve months and on the occurrence
\n
of certain conditions including the successful commercialisation of the DSolve technology.
\n
If the development of the technology is successful an additional contingent consideration
\n
is payable, and Archer will have exclusive rights to use the technology in the provision of
\n
services to our customers. We have accrued additional estimated contingent purchase
\n
consideration of $1.5 million.
\n
Archer Elemental UK Limited and Archer Elemental Norway AS
\n
We have entered into a joint venture with Elemental Energies Group, a wells focused
\n
engineering and consultancy provider, focusing on the upstream decommissioning and
\n
low carbon energy sectors, with a view to providing more fully integrated services. We have
\n
agreed with the co-investor that Archer will contribute 60% of funding and will own 60%
\n
of the joint venture entities. Capitalisation of the joint venture companies shall be on a pro-
\n
rata basis based on the respective shareholding.
\n
Significant judgements in determining control
\n
Management has exercised judgement in determining that the Group does not control
\n
Archer Elemental UK Limited and Archer Elemental Norway AS, despite holding 60% of
\n
the ownership interests. While the Group is exposed to variable returns from its investment,
\n
the assessment of control under IFRS 10 requires an evaluation of power over the relevant
\n
activities.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag527": {
"value": "\n
\n\n
Based on the shareholders\u2019 agreements, key decisions relating to strategic, operational
\n
and financial matters require the consent of both shareholders, and the co\u2011investor holds
\n
substantive participating rights that prevent the Group from unilaterally directing the relevant
\n
activities of the entities. Accordingly, the Group does not control the Archer Elemental
\n
entities, but exercises significant influence, and the investments are therefore accounted
\n
for using the equity method.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
Note 16 Investments in Associates and Joint Ventures
\n
Investments in which we have the ability to exercise significant influence, but do not control
\n
or jointly control, are accounted for under the equity method of accounting and are reported
\n
under Investments in associates and joint ventures in the Consolidated Balance Sheet.
\n
Significant influence is generally deemed to exist if the Company has an ownership interest
\n
in the voting stock of the investee between 20 percent and 50 percent, although other
\n
factors such as representation on the investee\u2019s Board of Directors and the nature of
\n
commercial arrangements are considered in determining whether the equity method of
\n
accounting is appropriate.
\n
Investments in which the Company exercises joint control together with one or more parties,
\n
whereby decisions about the relevant activities require the unanimous consent of the parties
\n
sharing control, are also accounted for under the equity method of accounting.
\n
Under this method of accounting, our share of the net earnings or losses of the investee,
\n
together with our share of other comprehensive income, impairment losses, and gains or
\n
losses on sale of such investments, is reported under Share of gains/losses of associates
\n
and joint ventures in the Consolidated Statement of Operations.
\n
We evaluate our equity method investments whenever events or changes in circumstances
\n
indicate that the carrying amounts of such investments may be impaired. If the recoverable
\n
amount of an equity method investment (being the highest of its fair value less costs of
\n
disposal and its value in use) is less than its carrying amount, an impairment loss is recorded
\n
in earnings in the current period in accordance with IAS 36 \u2013 Impairment of Assets. If the
\n
recoverable amount subsequently increases, the impairment loss is reversed in the period
\n
of recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
There are no significant statutory, contractual or regulatory restrictions that limit the Group\u2019s
\n
ability to access or use the assets, or to settle the liabilities, of its associated companies.
\n
We have the following participation in investments that are recorded using the equity
\n
method:
\n
\n
\n\n\n | \n 31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| DSolve AS | \n20% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Archer Elemental UK | \n60% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Archer Elemental Norway AS | \n60% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
The carrying amounts of our investments in our equity method investment are as follows:
\n
\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Initial investment in DSolve AS | \n3.6 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share of net results since acquisition | \n0.1 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustment | \n0.3 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reported investment in associates | \n4.0 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
DSolve
\n
During the nine months of 2025, we paid $2.15 million to acquire 20% of a dSolve AS (or
\n
\"DSolve\") an unrelated, startup-company based in Trondheim, Norway, with the vision to
\n
pioneer rigless subsea plugging & abandonment, using electrochemical steel removal
\n
technology. The share purchase agreement provides Archer with an option to purchase the
\n
remaining 80% of thee company in the future, after twelve months and on the occurrence
\n
of certain conditions including the successful commercialisation of the DSolve technology.
\n
If the development of the technology is successful an additional contingent consideration
\n
is payable, and Archer will have exclusive rights to use the technology in the provision of
\n
services to our customers. We have accrued additional estimated contingent purchase
\n
consideration of $1.5 million.
\n
Archer Elemental UK Limited and Archer Elemental Norway AS
\n
We have entered into a joint venture with Elemental Energies Group, a wells focused
\n
engineering and consultancy provider, focusing on the upstream decommissioning and
\n
low carbon energy sectors, with a view to providing more fully integrated services. We have
\n
agreed with the co-investor that Archer will contribute 60% of funding and will own 60%
\n
of the joint venture entities. Capitalisation of the joint venture companies shall be on a pro-
\n
rata basis based on the respective shareholding.
\n
Significant judgements in determining control
\n
Management has exercised judgement in determining that the Group does not control
\n
Archer Elemental UK Limited and Archer Elemental Norway AS, despite holding 60% of
\n
the ownership interests. While the Group is exposed to variable returns from its investment,
\n
the assessment of control under IFRS 10 requires an evaluation of power over the relevant
\n
activities.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag503": {
"value": "\nBased on the shareholders\u2019 agreements, key decisions relating to strategic, operational
\nand financial matters require the consent of both shareholders, and the co\u2011investor holds
\nsubstantive participating rights that prevent the Group from unilaterally directing the relevant
\nactivities of the entities. Accordingly, the Group does not control the Archer Elemental
\nentities, but exercises significant influence, and the investments are therefore accounted
\nfor using the equity method.
\n
\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
Note 16 Investments in Associates and Joint Ventures
\n
Investments in which we have the ability to exercise significant influence, but do not control
\n
or jointly control, are accounted for under the equity method of accounting and are reported
\n
under Investments in associates and joint ventures in the Consolidated Balance Sheet.
\n
Significant influence is generally deemed to exist if the Company has an ownership interest
\n
in the voting stock of the investee between 20 percent and 50 percent, although other
\n
factors such as representation on the investee\u2019s Board of Directors and the nature of
\n
commercial arrangements are considered in determining whether the equity method of
\n
accounting is appropriate.
\n
Investments in which the Company exercises joint control together with one or more parties,
\n
whereby decisions about the relevant activities require the unanimous consent of the parties
\n
sharing control, are also accounted for under the equity method of accounting.
\n
Under this method of accounting, our share of the net earnings or losses of the investee,
\n
together with our share of other comprehensive income, impairment losses, and gains or
\n
losses on sale of such investments, is reported under Share of gains/losses of associates
\n
and joint ventures in the Consolidated Statement of Operations.
\n
We evaluate our equity method investments whenever events or changes in circumstances
\n
indicate that the carrying amounts of such investments may be impaired. If the recoverable
\n
amount of an equity method investment (being the highest of its fair value less costs of
\n
disposal and its value in use) is less than its carrying amount, an impairment loss is recorded
\n
in earnings in the current period in accordance with IAS 36 \u2013 Impairment of Assets. If the
\n
recoverable amount subsequently increases, the impairment loss is reversed in the period
\n
of recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
There are no significant statutory, contractual or regulatory restrictions that limit the Group\u2019s
\nability to access or use the assets, or to settle the liabilities, of its associated companies.
\nWe have the following participation in investments that are recorded using the equity
\nmethod:
\n\n
\n\n\n | \n 31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| DSolve AS | \n20% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Archer Elemental UK | \n60% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Archer Elemental Norway AS | \n60% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
The carrying amounts of our investments in our equity method investment are as follows:
\n\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Initial investment in DSolve AS | \n3.6 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share of net results since acquisition | \n0.1 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustment | \n0.3 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reported investment in associates | \n4.0 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
DSolve
\nDuring the nine months of 2025, we paid $2.15 million to acquire 20% of a dSolve AS (or
\n\"DSolve\") an unrelated, startup-company based in Trondheim, Norway, with the vision to
\npioneer rigless subsea plugging & abandonment, using electrochemical steel removal
\ntechnology. The share purchase agreement provides Archer with an option to purchase the
\nremaining 80% of thee company in the future, after twelve months and on the occurrence
\nof certain conditions including the successful commercialisation of the DSolve technology.
\nIf the development of the technology is successful an additional contingent consideration
\nis payable, and Archer will have exclusive rights to use the technology in the provision of
\nservices to our customers. We have accrued additional estimated contingent purchase
\nconsideration of $1.5 million.
\nArcher Elemental UK Limited and Archer Elemental Norway AS
\nWe have entered into a joint venture with Elemental Energies Group, a wells focused
\nengineering and consultancy provider, focusing on the upstream decommissioning and
\nlow carbon energy sectors, with a view to providing more fully integrated services. We have
\nagreed with the co-investor that Archer will contribute 60% of funding and will own 60%
\nof the joint venture entities. Capitalisation of the joint venture companies shall be on a pro-
\nrata basis based on the respective shareholding.
\nSignificant judgements in determining control
\nManagement has exercised judgement in determining that the Group does not control
\nArcher Elemental UK Limited and Archer Elemental Norway AS, despite holding 60% of
\nthe ownership interests. While the Group is exposed to variable returns from its investment,
\nthe assessment of control under IFRS 10 requires an evaluation of power over the relevant
\nactivities.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag456": {
"value": "\nNote 17 Business Acquisitions and Disposals
\nAcquisitions and sales in 2025
\nPremium Oilfield Services LLC
\nIn September 2025 Archer Well Company Inc, a 100% owned Archer subsidiary, agreed
\nto the purchase 100% of the members' interests in Premium Oilfield Services LLC, (or
\n\"Premium\"), from Composite Intermediate Holdings LLC, an unrelated third party for $20.7
\nmillion. Premium is engaged in the provision of wireline, thru-tubing fishing, and whipstocks
\nservices in the North American oilfield market. The fair value of assets acquired is
\nsummarised below:
\nFair value of assets acquired
\n\n
\n\n\n | \n(In USDmillions) | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Cash | \n1.1 | \n\n\n\n\n\n\n\n
\n\n| Receivables | \n8.5 | \n\n\n\n\n\n\n\n
\n\n| Inventories | \n1.3 | \n\n\n\n\n\n\n\n
\n\n| Property plant and equipment | \n11.5 | \n\n\n\n\n\n\n\n
\n\n| Intangible assets:Trade name and customer relations | \n3.2 | \n\n\n\n\n\n\n\n
\n\n| Lease obligations | \n(4.5) | \n\n\n\n\n\n\n\n
\n\n| Payables and other liabilities | \n(3.6) | \n\n\n\n\n\n\n\n
\n\n| Net Assets | \n17.4 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
The estimated fair value of the receivables aquired is the gross contractual amounts
\nreceivable, and it is anticipated that the amounts will be collected within twelve months
\nfollowing the acquisition. The $3.25 million excess of the purchase consideration over the
\nfair value of the assets is recognized as goodwill, which represents the assembled workforce
\nand experience and know-how acquired, and synergies within the Well services segment.
\n
\n\n\n\n\n\n\nWellconnection Norway AS and Well Machining AS
\nIn June 2025 Archer AS agreed to the purchase of two subsidiaries, Well Machining AS
\nand Wellconnection Norway AS from Wellconnection Group AS, an unrelated third party
\nfor NOK 30,200,000, or $3.0 million. Wellconnection is a provider of well services and has
\nhistorically provided services to our Well services division. The purchase will assist in
\ncontinuity of supplies necessary of Archer's service offering. In addition to cash price of
\nNOK 30.2 million, Archer has assumed NOK 27.2 million (or $2.7 million) of shareholder
\nloans payable to the acquired entities. The fair value of assets acquired is summarised
\nbelow:
\nFair value of assets acquired
\n\n
\n\n\n | \n(In USDmillions) | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Cash | \n1.6 | \n\n\n\n\n\n\n\n
\n\n| Receivables | \n3.1 | \n\n\n\n\n\n\n\n
\n\n| Inventories | \n0.1 | \n\n\n\n\n\n\n\n
\n\n| Property plant and equipment | \n2.1 | \n\n\n\n\n\n\n\n
\n\n| Intangible assets: Research and development | \n0.2 | \n\n\n\n\n\n\n\n
\n\n| Deferred tax | \n1.2 | \n\n\n\n\n\n\n\n
\n\n| Payables and other liabilities | \n(7.8) | \n\n\n\n\n\n\n\n
\n\n| Net Assets | \n0.5 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
The estimated fair value of the receivables acquired is the gross contractual amounts
\nreceivable, and it is anticipated that the amounts will be collected within twelve months
\nfollowing the acquisition. The $2.5 million excess of the purchase consideration over the
\nfair value of the assets is recognized as goodwill, which represents the assembled workforce
\nand experience and know-how acquired, and synergies within the Platform operations
\nsegment.
\nThe table below shows the revenues and net results included in our consolidated 2025
\nfinancial statements relating to the acquisitions above, and corresponding pro forma figures
\nwhich would have been included had the acquisitions occurred 1 January 2025.
\nAdditional data in USD millions
\n\n
\n\n\n| Acquisition | \nIncluded in 2025 consolidatedincome statements | \nPro-forma full year 2025 | \n\n\n\n\n\n\n\n
\n\n | \nRevenue | \nNet Result | \nRevenue | \nNet Result | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Wellconnection | \n1.9 | \n(0.2) | \n3.2 | \n2.8 | \n\n\n\n\n\n\n\n
\n\n| Premium OilfieldServices LLC | \n6.9 | \n0.5 | \n29.2 | \n2.1 | \n\n\n\n\n\n\n\n
\n\n| Total | \n8.8 | \n0.3 | \n32.4 | \n4.9 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\nD&K Logistics Grandeur Pte Ltd.
\nOn 15 May 2025 Archer Holdco LLC, a 100% owned Archer subsidiary, entered into an
\nagreement to purchase D&K Logistics Grandeur Pte Ltd, a special purpose entity (or \"SPV\")
\nbased in Singapore from Luca Energy Private Limited, an unrelated third party. The SPV
\nholds one asset, a modular unit, the Asian Pearl 101 drilling rig, which will be deployed by
\nArcher's platform operations division. The purchase is accounted for as an asset acquisition.
\nThe SPV was purchased for $4.7 million, being the fair value of its single asset.
\n\n
Sale of part of Land Drilling operations
\n
During the second quarter, we sold part of our land drilling operations, comprising two rigs
\n
and associated assets and liabilities to Pan American Energy, for $4.6 million. The
\n
transaction resulted in the recognition of a loss on sale of $8.7 million
\n
Sale of workover business in the southern part of Argentina
\n
During the fourth quarter 2025 we initiated the sale of our remaining workover and pulling
\n
unit business in the southern part of Argentina. The market for the workover business in
\n
the southern part of Argentina has been declining, as the market for conventional oil
\n
production in Argentina South is reducing. The sale is an overall reduction of our risk and
\n
exposure in a declining market. Archer focus going forward is to grow our drilling business
\n
in the growing unconventional market in Vaca Muerta.
\n
We completed the sale of 12 workover and 12 pulling units on 30 January 2026. The
\n
transaction involved transferring all assets and liabilities related to the workover business,
\n
including 750 employees. Based on value of the transaction, a loss of $25.3 million was
\n
recognised in 2025, attributable to the impairment of assets to be sold as part of the
\n
transaction.
\n
\n\n\n\n\n\n
Acquisitions in 2024
\nWellbore Fishing and Rental Tools LLC
\nOn 25 October 2024 we acquired Wellbore Fishing and Rental Tools LLC (or \"WFR\"). WFR
\nis an unrelated US based technology player, focused on fishing operations in the oil and
\ngas sector, whose operations expand and complement well services already provided by
\nArcher. Purchase consideration comprised an initial payment of $50.7 million, plus a
\ndeferred payment of $1.5 million due in November 2025. The acquisition strengthens
\nArcher\u2019s presence in the Gulf of America and will build on our relationships with global
\nentities involved in the oil and gas industry in the region. Clear and tangible cost and revenue
\nsynergies are expected to result from the acquisition. Fair value of the assets acquired is
\ndetailed in the table below:
\nFair value of assets acquired
\n\n
\n\n\n | \nUSD millions | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Cash | \n1.4 | \n\n\n\n\n\n\n\n
\n\n| Receivables | \n9.5 | \n\n\n\n\n\n\n\n
\n\n| Inventories | \n3.1 | \n\n\n\n\n\n\n\n
\n\n| Property plant and equipment | \n7.7 | \n\n\n\n\n\n\n\n
\n\n| Intangible assets Customer relations | \n12.3 | \n\n\n\n\n\n\n\n
\n\n| Trade name | \n1.0 | \n\n\n\n\n\n\n\n
\n\n| Payables | \n(8.1) | \n\n\n\n\n\n\n\n
\n\n| External debt | \n(1.1) | \n\n\n\n\n\n\n\n
\n\n| Net Assets | \n25.7 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
The $26.5 million excess of the purchase consideration over the fair value of the assets is
\nrecognized as goodwill, which represents the assembled workforce and experience and
\nknow how acquired, and synergies within Well services segment.
\n
\n\n\n\n\n\n\nIceland Drilling Company Ltd.
\nIn 2022, as part of Archer\u2019s energy transition strategy, we invested in a 50% share of Iceland
\nDrilling, an international geothermal drilling and integrated service company headquartered
\nin Iceland. The investment has been classified as an investment in associated companies
\nand consolidated using the equity method.
\nDuring the fourth quarter of 2024 we have acquired an additional 10% of the company
\nwhich, along with some changes to the shareholders' agreement between Archer and the
\nother shareholders of Iceland Drilling, resulted in the acquisition of a controlling interest in
\nIceland Drilling. Purchase consideration for the additional shares took the form of newly
\nissued shares in Archer Ltd. with a value of $2.5 million. In addition, we have recognised
\nadditional purchase consideration of $1.4 million, which may also be settled by the issue
\nof Archer Ltd shares under a Purchase adjustment clause in the purchase agreement. The
\npurchase price adjustment is contingent on various metrics, including future earnings and
\nmarket value of Iceland Drilling and Archer. The contingent consideration is recognised as
\na liability since there is a possibility that it may be settled in cash.
\nOn the attainment of controlling financial interest we have reclassified our investment as
\nan investment in a consolidated subsidiary, recognised a non-controlling interest at fair
\nvalue and adjusted the carrying value of our investment to fair value, which resulted in the
\nrecognition of a gain of $0.1 million. No goodwill has been recognised in respect of this
\nacquisition.
\nThe functional currency of Iceland Drilling is the Icelandic Krona (ISK). The USD equivalent
\nof the fair value of Iceland Drilling assets consolidated on acquisition of control are as follows;
\nFair value of assets acquired
\n\n
\n\n\n | \nISK millions | \nUSD millionsequivalent | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Cash | \n320.8 | \n2.3 | \n\n\n\n\n\n\n\n
\n\n| Receivables | \n1,491.6 | \n10.9 | \n\n\n\n\n\n\n\n
\n\n| Inventories | \n885.1 | \n6.4 | \n\n\n\n\n\n\n\n
\n\n| Property plant and equipment | \n4,739.4 | \n34.7 | \n\n\n\n\n\n\n\n
\n\n| Deferred tax | \n182.0 | \n1.3 | \n\n\n\n\n\n\n\n
\n\n| Contract assets (Mobilisation costs) | \n501.4 | \n3.7 | \n\n\n\n\n\n\n\n
\n\n| Payables | \n(775.3) | \n(5.7) | \n\n\n\n\n\n\n\n
\n\n| Prepaid revenue | \n(13.8) | \n(0.1) | \n\n\n\n\n\n\n\n
\n\n| Contract liabilities (Mobilisation revenues) | \n(797.9) | \n(5.8) | \n\n\n\n\n\n\n\n
\n\n| External debt | \n2,382.6 | \n(17.4) | \n\n\n\n\n\n\n\n
\n\n| Net Assets | \n4,160.8 | \n30.4 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
Comtrac AS
\nSince 2020 Archer's fully owned Norwegian subsidiary Archer Norge AS has owned 50%
\nof Comtrac AS, an entity set up for the development and ownership of well intervention
\ntechnology. Since its inception, the investment in Comtrac AS has been accounted for
\nusing the equity method of consolidation. On 4 September 2024 Archer Norge AS purchased
\nthe other 50% of the company from the only other shareholder, IKM Gruppen AS. Following
\nthe attainment of 100% ownership of Comtrac AS Archer is able to directly commission
\nthe building of rods (which are the ComTrac technology) which are utilised in the provision
\nof well services to our customers.
\nThe carrying value of Archer's 50% investment in Comtrac AS prior to the additional
\ninvestment was $0.5 million. This was increased by the purchase consideration of $0.4
\nmillion which was paid to IKM for its 50% shareholding in Comtrac AS, bringing total carrying
\nvalue of the investment to $0.9 million. In addition, we have a long-term loan receivable
\nfrom Comtrac, at acquisition date, of $2.6 million, bringing total carrying value of the
\ninvestment to $3.5 million.
\nThe fair value of the assets acquired at the acquisition date of 4 September 2024, were as
\nfollows:
\nFair value of assets acquired
\n\n
\n\n\n | \nNOK millions | \nUSD millionsequivalent | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Cash | \n0.4 | \n0.04 | \n\n\n\n\n\n\n\n
\n\n| Receivables | \n0.7 | \n0.1 | \n\n\n\n\n\n\n\n
\n\n| Intangible assets | \n48.7 | \n4.5 | \n\n\n\n\n\n\n\n
\n\n| Deferred tax assets | \n19.0 | \n1.8 | \n\n\n\n\n\n\n\n
\n\n| Accounts payable and accrued expenses | \n(5.4) | \n(0.5) | \n\n\n\n\n\n\n\n
\n\n| Balance due to lease finance | \n(2.7) | \n(0.3) | \n\n\n\n\n\n\n\n
\n\n| Total fair value of assets acquired | \n60.7 | \n5.6 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
The intangible assets reflect the value of the ComTrac technology including the patents for
\nthe technology and the use of the ComTrac brand name.
\nUpon acquisition of a controlling financial interest we have revalued our investment in
\nComtrac AS to reflect its fair value at acquisition. The excess of the fair value over our
\ncarrying was $2.3 million. This is reflected as an increase in the carrying value of our
\ninvestment in the equity of Comtrac AS and a gain on bargain purchase in the third quarter
\n2024 income statement. The gain relates mainly to deferred tax assets acquired.
\n
\n\n\n\n\n\n\nADA Argentina SRL
\nOn 31 July 2024, Archer's fully owned Argentine subsidiaries completed the purchase ADA
\nArgentina SRL, (or ADA), from an unrelated third party, Air Drilling Associated. ADA performs
\ndrilling services in Argentina through the operation of managed pressure drilling (or MPD)
\nequipment. Archer's customers in Argentina are increasingly requiring the suites of services
\nprovided by ADA to be provided by alongside land drilling services already provided, so
\nthe ADA business compliments Archer's operations and facilitates the offering of integrated
\nservices by Archer.
\nPurchase consideration of $5.6 million consisted of an upfront payment of $0.3 million, a
\npayment for working capital of $0.5 million (this figure is subject to review and possible
\nrevision) and a balance payment of $4.8 million payable by agreed monthly installments
\nover the 27-month period ending 31 October 2026.
\nThe fair value of the assets acquired at the acquisition date of 31 July 2024, were as follows:
\nFair value of assets acquired
\n\n
\n\n\n | \nIn USD millions | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Cash | \n0.2 | \n\n\n\n\n\n\n\n
\n\n| Receivables | \n2.5 | \n\n\n\n\n\n\n\n
\n\n| Inventory | \n0.4 | \n\n\n\n\n\n\n\n
\n\n| Deferred tax assets | \n0.2 | \n\n\n\n\n\n\n\n
\n\n| Tangible fixed assets | \n1.9 | \n\n\n\n\n\n\n\n
\n\n| Payables | \n(1.4) | \n\n\n\n\n\n\n\n
\n\n| Total fair value of assets acquired | \n3.9 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
The $1.7 million excess of the purchase consideration over the fair value of the assets is
\nrecognized as goodwill, which represents the assembled workforce and experience and
\nknow how acquired, and synergies within Land Drilling segment.
\nMoreld Ocean Wind AS
\nOn July 1, 2024 Archer completed the acquisition of Moreld Ocean Wind AS, subsequently
\nre-named Archer Wind AS (or Archer Wind), from an unrelated company. Archer Wind is
\ndeveloping an offshore floating wind foundation, and is currently managing the development
\nof a prototype installation under a contract with Total Energies using unique technology
\nprovided under a collaboration agreement with Ocergy Inc., a US technology and solutions
\nprovider. The purchase is part of Archer\u2019s diversification into renewable energy. The acquired
\nworkforce with experience and know-how in this sector is augmented by Archer\u2019s
\nengineering skills and industry knowledge.
\nThe sale and purchase agreement provided that Archer purchased 100% of the issued and
\nfully paid-up shares for a consideration of $1.8 million payable in two equal installments
\ndue 31 December 2024 and 30 November 2025.
\nThe fair value of the assets acquired at the acquisition date of 1 July 2024 were as follows:
\nFair value of assets acquired
\n\n
\n\n\n | \nNOK millions | \nUSD millionsequivalent | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Receivables | \n47.2 | \n4.4 | \n\n\n\n\n\n\n\n
\n\n| Tangible fixed assets | \n0.1 | \n0.0 | \n\n\n\n\n\n\n\n
\n\n| Licences | \n8.2 | \n0.8 | \n\n\n\n\n\n\n\n
\n\n| Shares in Ocergy | \n21.1 | \n2.0 | \n\n\n\n\n\n\n\n
\n\n| Deferred taxes | \n25.0 | \n2.3 | \n\n\n\n\n\n\n\n
\n\n| Accounts payable | \n(7.5) | \n(0.7) | \n\n\n\n\n\n\n\n
\n\n| Accruals, deferred income and otherpayables | \n(71.8) | \n(6.7) | \n\n\n\n\n\n\n\n
\n\n| Total fair value of assets acquired | \n22.4 | \n2.1 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
The difference of $0.3 million between the purchase consideration and the fair value of the
\nnet assets acquired is recognised as a gain on bargain purchase in the third quarter 2024
\nincome statement.
\n
\n\n\n\n\n\n\nVertikal Services AS
\nOn 6 May 2024 we completed the acquisition of 65% of the shares in Vertikal Service AS.
\n(or \"Vertikal\"), an unrelated company who offers inspection, installation, and maintenance
\nservices to energy customers using advanced industrial rope access techniques on complex
\nstructures such as offshore and onshore wind turbines, hydropower stations, and offshore
\noil and gas installations. The purchase is part of Archer\u2019s diversification into the renewable
\nenergy sector, by the acquisition of projects in the wind and hydro generated power segment
\nand a workforce with experience and know-how in this sector, which is augmented by
\nArcher\u2019s engineering skills and industry knowledge.
\nThe sale and purchase agreement provided that Archer purchased 1000 of the 2000 issued
\nand fully paid up shares for a consideration of NOK 25 million (or $2.3 million). In addition,
\nas part of the agreement, Archer made a capital contribution in kind to Vertikal, consisting
\nof a transfer of Archer business, by the transfer of the relevant employees, the customer
\ncontract which is currently serviced by the individuals transferred, and associated
\nresources, to Vertikal. In return for the capital contribution, Archer received 858 newly issues
\nshares which brought Archer's total shareholding in Vertikal to 65%.
\nDeferred consideration up to NOK 10 million is payable no later than 31 March 2027 and
\nis based on achieving various levels of EBITDA. We have estimated the fair value of the
\ndeferred consideration to be $0.1 million. Total purchase consideration recognised by Archer
\nas investment in subsidiary total NOK 25,500,000 (or $2.4 million) comprising $2.3 million
\nfor the purchase of 1000 shares from the existing shareholders and $0.1 million for the
\ndeferred consideration.
\nThe fair value of the assets acquired at the acquisition date of 6 May 2024 were as follows:
\nFair value of assets acquired
\n\n
\n\n\n | \nNOK millions | \nUSD millionsequivalent | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Cash | \n9.2 | \n0.8 | \n\n\n\n\n\n\n\n
\n\n| Receivables | \n36.2 | \n3.3 | \n\n\n\n\n\n\n\n
\n\n| Tangible fixed assets | \n4.6 | \n0.4 | \n\n\n\n\n\n\n\n
\n\n| Loan finance | \n(4.4) | \n(0.4) | \n\n\n\n\n\n\n\n
\n\n| Accounts payable | \n(22.1) | \n(2.0) | \n\n\n\n\n\n\n\n
\n\n| Accruals and other payables | \n(27.6) | \n(2.5) | \n\n\n\n\n\n\n\n
\n\n| Total fair value of assets acquired | \n(3.9) | \n(0.3) | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
The business contributed as capital has been valued at NOK 21.45 million (or $1.9 million),
\nand the fair value resulting non-controlling interest of 35% of Vertikal is estimated to be
\nNOK 4 million (or $0.4 million). On consolidation of Vertikal into the Group financial
\nstatements we have recognised goodwill of $3.1 million which represents the assembled
\nworkforce and experience, and know-how acquired.
\nGoodwill was calculated as follows:
\n\n
\n\n\n | \nUSD millions equivalent | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Purchase consideration | \n2.4 | \n\n\n\n\n\n\n\n
\n\n| Negative net assets acquired | \n0.3 | \n\n\n\n\n\n\n\n
\n\n| Recognition of non-controlling interest | \n0.4 | \n\n\n\n\n\n\n\n
\n\n| Total Goodwill | \n3.1 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
The table below shows the revenues and net results included in our consolidated 2024
\nfinancial statements relating to the acquisitions above, and corresponding pro forma figures
\nwhich would have been included had the acquisitions occurred 1 January 2024.
\nAdditional data in USD millions
\n\n
\n\n\n| Acquisition | \nIncluded in 2024 consolidatedincome statements | \nPro-forma full year 2024 | \n\n\n\n\n\n\n\n
\n\n | \nRevenue | \nNet Result | \nRevenue | \nNet Result | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Vertikal ServicesAS | \n9.8 | \n(0.9) | \n19.2 | \n(0.8) | \n\n\n\n\n\n\n\n
\n\n| Archer Wind AS | \n9.7 | \n0.4 | \n12.1 | \n(2.2) | \n\n\n\n\n\n\n\n
\n\n| ADA ArgentinaSRL | \n4.0 | \n0.5 | \n9.8 | \n0.3 | \n\n\n\n\n\n\n\n
\n\n| WFR | \n4.8 | \n0.0 | \n39.7 | \n7.3 | \n\n\n\n\n\n\n\n
\n\n| Iceland DrillingCompany Ltd. | \n9.0 | \n0.6 | \n63.7 | \n2.9 | \n\n\n\n\n\n\n\n
\n\n| Total | \n37.3 | \n0.6 | \n144.5 | \n7.4 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n",
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"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag421": {
"value": "\nSale of part of Land Drilling operations
\nDuring the second quarter, we sold part of our land drilling operations, comprising two rigs
\nand associated assets and liabilities to Pan American Energy, for $4.6 million. The
\ntransaction resulted in the recognition of a loss on sale of $8.7 million
\nSale of workover business in the southern part of Argentina
\nDuring the fourth quarter 2025 we initiated the sale of our remaining workover and pulling
\nunit business in the southern part of Argentina. The market for the workover business in
\nthe southern part of Argentina has been declining, as the market for conventional oil
\nproduction in Argentina South is reducing. The sale is an overall reduction of our risk and
\nexposure in a declining market. Archer focus going forward is to grow our drilling business
\nin the growing unconventional market in Vaca Muerta.
\nWe completed the sale of 12 workover and 12 pulling units on 30 January 2026. The
\ntransaction involved transferring all assets and liabilities related to the workover business,
\nincluding 750 employees. Based on value of the transaction, a loss of $25.3 million was
\nrecognised in 2025, attributable to the impairment of assets to be sold as part of the
\ntransaction.
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag422": {
"value": "\n
\n\n
Note 18 Asset held for sale
\n
On 30 January 2026, Archer announced the closing of the transaction to sell the workover
\n
business in the south of Argentina, in the Provinces of Chubut and Santa Cruz. The sale
\n
includes 12 workover rigs, 12 pulling units and approximately 750 employees. Archer will
\n
retain ownership of 4 drilling rigs, 5 workover units and 4 pulling units from the workover
\n
business. The divestment enables Archer\u2019s Land Drilling division to focus on the provision
\n
of drilling and workover services in the unconventional Vaca Muerta field.
\n
Following the closure of the transaction all assets and liabilities held by the Argentinian
\n
branch of the DLS Group were reclassified as held for sale, and an impairment charge of
\n
$25.3 million was recorded based on our estimate of the loss which will be incurred on the
\n
sale of these assets when the figures are finalised in 2026.
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag423": {
"value": "\nNote 18 Asset held for sale
\nOn 30 January 2026, Archer announced the closing of the transaction to sell the workover
\nbusiness in the south of Argentina, in the Provinces of Chubut and Santa Cruz. The sale
\nincludes 12 workover rigs, 12 pulling units and approximately 750 employees. Archer will
\nretain ownership of 4 drilling rigs, 5 workover units and 4 pulling units from the workover
\nbusiness. The divestment enables Archer\u2019s Land Drilling division to focus on the provision
\nof drilling and workover services in the unconventional Vaca Muerta field.
\nFollowing the closure of the transaction all assets and liabilities held by the Argentinian
\nbranch of the DLS Group were reclassified as held for sale, and an impairment charge of
\n$25.3 million was recorded based on our estimate of the loss which will be incurred on the
\nsale of these assets when the figures are finalised in 2026.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag424": {
"value": "\n
\n
\n
\n
\n
\n\n
\n
\n
\n
Note 19 Cash and Cash Equivalents
\n
Cash and cash equivalents
\n
Cash and cash equivalents consist of cash, demand deposits and highly liquid financial
\n
instruments purchased with original maturity of three months or less and exclude restricted
\n
cash.
\n
\n\n\n\n\n
\n
\n
Restricted cash
\n
Restricted cash consists mainly of bank deposits arising from advance employee tax
\n
withholdings.
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n
\n\n\n| (In USD millions) | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Cash in bank | \n38.7 | \n76.8 | \n\n\n\n\n\n\n\n
\n\n| Restricted cash | \n1.8 | \n3.8 | \n\n\n\n\n\n\n\n
\n\n| Total Cash and Cash Equivalents | \n40.6 | \n80.6 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n
Reference is made to Note 23 Interest-bearing debt for available liquidity under the
\nRevolving Credit Facility.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag426": {
"value": "\nNote 19 Cash and Cash Equivalents
\nCash and cash equivalents
\nCash and cash equivalents consist of cash, demand deposits and highly liquid financial
\ninstruments purchased with original maturity of three months or less and exclude restricted
\ncash.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag427": {
"value": "\nRestricted cash
\nRestricted cash consists mainly of bank deposits arising from advance employee tax
\nwithholdings.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag425": {
"value": "\n\n
\n\n\n| (In USD millions) | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| Cash in bank | \n38.7 | \n76.8 | \n\n\n\n\n\n\n\n
\n\n| Restricted cash | \n1.8 | \n3.8 | \n\n\n\n\n\n\n\n
\n\n| Total Cash and Cash Equivalents | \n40.6 | \n80.6 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag428": {
"value": "\n
\n\n
\n
\n
Note 20 Trade and other receivables
\n
Trade and other receivables are recorded in the balance sheet at their full amount, less a
\n
loss allowance for expected credit losses. The Group has applied the practical expedient
\n
permitted by IFRS 9 and initially measures trade receivables at the transaction price
\n
determined in accordance with IFRS 15.
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Trade receivables | \n120.5 | \n133.3 | \n\n\n\n\n\n\n\n
\n\n| Earned, not invoiced revenue | \n70.8 | \n57.1 | \n\n\n\n\n\n\n\n
\n\n| Less bad debt provision | \n(3.5) | \n(2.6) | \n\n\n\n\n\n\n\n
\n\n| Trade receivables, net | \n187.8 | \n187.8 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
As the receivables are due in the short-term, the fair value is approximately equal to the
\ncarrying amount, and the future cash flows are not discounted.
\nThe ageing of the trade receivables
\n\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Not due | \n158.0 | \n158.1 | \n\n\n\n\n\n\n\n
\n\n| Past due 0-30 days | \n19.5 | \n19.0 | \n\n\n\n\n\n\n\n
\n\n| Past due 31-60 days | \n3.0 | \n3.9 | \n\n\n\n\n\n\n\n
\n\n| Past due 61+ days | \n10.7 | \n9.0 | \n\n\n\n\n\n\n\n
\n\n| Total | \n191.3 | \n189.9 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
Judgments and Estimates
\nJudgment is involved when determining the impairment losses on receivables and customer
\ncontract assets. Loss allowances are established based on expected credit losses for
\nindividual receivables as well as on collective assessments where appropriate. In assessing
\nexpected credit losses, the Group considers the financial condition of the customer,
\nhistorical payment behaviour, current and forward\u2011looking information, including relevant
\nmarket conditions and macro\u2011economic factors.
\nUncollectible receivables are written off when they are considered irrecoverable, including
\nsituations where a settlement is reached for an amount less than the outstanding balance,
\nor when all reasonable collection efforts have been exhausted. Amounts previously written
\noff that are subsequently recovered are recorded as a reversal of impairment in profit or loss.
\nBad debt provision
\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Balance at 1 January | \n(2.7) | \n(0.2) | \n\n\n\n\n\n\n\n
\n\n| Provisions made during the year | \n- | \n(0.3) | \n\n\n\n\n\n\n\n
\n\n| Provisions used during the year | \n0.2 | \n(0.1) | \n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n(0.6) | \n(2.7) | \n\n\n\n\n\n\n\n
\n\n| Closing balance 31 December | \n(3.5) | \n(2.7) | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag429": {
"value": "\nNote 20 Trade and other receivables
\nTrade and other receivables are recorded in the balance sheet at their full amount, less a
\nloss allowance for expected credit losses. The Group has applied the practical expedient
\npermitted by IFRS 9 and initially measures trade receivables at the transaction price
\ndetermined in accordance with IFRS 15.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag430": {
"value": "\nNote 21 Inventory
\nInventories
\n\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Manufactured | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Raw materials | \n0.0 | \n0.6 | \n\n\n\n\n\n\n\n
\n\n| Finished goods | \n35.4 | \n21.2 | \n\n\n\n\n\n\n\n
\n\n| Work in progress | \n2.6 | \n1.2 | \n\n\n\n\n\n\n\n
\n\n| Total manufactured | \n38.0 | \n23.0 | \n\n\n\n\n\n\n\n
\n\n| Drilling supplies | \n18.0 | \n14.4 | \n\n\n\n\n\n\n\n
\n\n| Other items and spares | \n16.0 | \n38.4 | \n\n\n\n\n\n\n\n
\n\n| Total inventories | \n71.9 | \n75.8 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\"Other items and spares\" primarily relate to parts and spares for the land rigs used in our
\nLatin America operation and spares and parts used in the Oiltools operations.
\nProvisions for obsolescence amounting to $3.6 million (2024: $7.1 million) are included
\nunder Other items and spares.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag431": {
"value": "\n
\n\n
\n
\n
\n
Note 22 Other assets
\n
\n
Our other current assets are composed of the following:
\n
Other current assets
\n
\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Deposits | \n13.1 | \n11.1 | \n\n\n\n\n\n\n\n
\n\n| Prepaid expenses | \n12.2 | \n23.5 | \n\n\n\n\n\n\n\n
\n\n| VAT and other taxes receivable | \n8.3 | \n10.5 | \n\n\n\n\n\n\n\n
\n\n| Reimbursable costs incurred | \n8.5 | \n3.0 | \n\n\n\n\n\n\n\n
\n\n| Other receivables | \n8.1 | \n8.9 | \n\n\n\n\n\n\n\n
\n\n| Other current assets | \n50.2 | \n57.0 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n
Our other noncurrent assets are composed of the following:
\n
Other Non-current assets
\n
\n
\n
\n
\n
\n
\n
\n\n\n | \nNote | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Pre-paid long-term expenses | \n | \n16.7 | \n2.6 | \n\n\n\n\n\n\n\n
\n\n| Receivable related party | \n28 | \n3.5 | \n0.0 | \n\n\n\n\n\n\n\n
\n\n| Investments in unconsolidated entities | \n | \n2.1 | \n4.4 | \n\n\n\n\n\n\n\n
\n\n| Deposits | \n | \n0.7 | \n0.0 | \n\n\n\n\n\n\n\n
\n\n| Deferred mobilisation cost | \n | \n0.7 | \n0.7 | \n\n\n\n\n\n\n\n
\n\n| Other long term receivables | \n | \n1.6 | \n2.3 | \n\n\n\n\n\n\n\n
\n\n| Other non-current assets | \n | \n25.3 | \n13.1 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag432": {
"value": "\n
\n
\n
\nNote 22 Other assets
\n\n
Our other current assets are composed of the following:
\n
Other current assets
\n
\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Deposits | \n13.1 | \n11.1 | \n\n\n\n\n\n\n\n
\n\n| Prepaid expenses | \n12.2 | \n23.5 | \n\n\n\n\n\n\n\n
\n\n| VAT and other taxes receivable | \n8.3 | \n10.5 | \n\n\n\n\n\n\n\n
\n\n| Reimbursable costs incurred | \n8.5 | \n3.0 | \n\n\n\n\n\n\n\n
\n\n| Other receivables | \n8.1 | \n8.9 | \n\n\n\n\n\n\n\n
\n\n| Other current assets | \n50.2 | \n57.0 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n
\n
Our other noncurrent assets are composed of the following:
\n
Other Non-current assets
\n
\n
\n
\n
\n
\n
\n
\n\n\n | \nNote | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Pre-paid long-term expenses | \n | \n16.7 | \n2.6 | \n\n\n\n\n\n\n\n
\n\n| Receivable related party | \n28 | \n3.5 | \n0.0 | \n\n\n\n\n\n\n\n
\n\n| Investments in unconsolidated entities | \n | \n2.1 | \n4.4 | \n\n\n\n\n\n\n\n
\n\n| Deposits | \n | \n0.7 | \n0.0 | \n\n\n\n\n\n\n\n
\n\n| Deferred mobilisation cost | \n | \n0.7 | \n0.7 | \n\n\n\n\n\n\n\n
\n\n| Other long term receivables | \n | \n1.6 | \n2.3 | \n\n\n\n\n\n\n\n
\n\n| Other non-current assets | \n | \n25.3 | \n13.1 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag433": {
"value": "\nOur other current assets are composed of the following:
\nOther current assets
\n\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Deposits | \n13.1 | \n11.1 | \n\n\n\n\n\n\n\n
\n\n| Prepaid expenses | \n12.2 | \n23.5 | \n\n\n\n\n\n\n\n
\n\n| VAT and other taxes receivable | \n8.3 | \n10.5 | \n\n\n\n\n\n\n\n
\n\n| Reimbursable costs incurred | \n8.5 | \n3.0 | \n\n\n\n\n\n\n\n
\n\n| Other receivables | \n8.1 | \n8.9 | \n\n\n\n\n\n\n\n
\n\n| Other current assets | \n50.2 | \n57.0 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag434": {
"value": "\nOur other noncurrent assets are composed of the following:
\nOther Non-current assets
\n
\n
\n
\n
\n
\n\n
\n\n\n | \nNote | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n\n\n\n\n
\n\n| Pre-paid long-term expenses | \n | \n16.7 | \n2.6 | \n\n\n\n\n\n\n\n
\n\n| Receivable related party | \n28 | \n3.5 | \n0.0 | \n\n\n\n\n\n\n\n
\n\n| Investments in unconsolidated entities | \n | \n2.1 | \n4.4 | \n\n\n\n\n\n\n\n
\n\n| Deposits | \n | \n0.7 | \n0.0 | \n\n\n\n\n\n\n\n
\n\n| Deferred mobilisation cost | \n | \n0.7 | \n0.7 | \n\n\n\n\n\n\n\n
\n\n| Other long term receivables | \n | \n1.6 | \n2.3 | \n\n\n\n\n\n\n\n
\n\n| Other non-current assets | \n | \n25.3 | \n13.1 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag454": {
"value": "\n
\n\n
\u2022 The Company shall ensure that the free liquidity of the Group is at all times the higher
\n
of $30 million and 5.00 percent of gross interest-bearing debt.
\n
\u2022 The Company shall ensure that the interest coverage ratio is minimum 2.50:1.
\n
The RCF contains events of default which include payment defaults, breach of financial
\n
covenants, breach of other obligations, breach of representations and warranties,
\n
insolvency, illegality, unenforceability, curtailment of business, claims against an obligor\u2019s
\n
assets, appropriation of an obligor\u2019s assets, failure to maintain exchange listing, material
\n
adverse effect, repudiation and material litigation. In addition, there are cross default clauses
\n
in the event of the obligor defaulting on other issued debt.
\n
As of 31 December 2025, the Company is compliant with all covenants under this RCF.
\n
Other loans
\n
As described above, a total of $75.0 million of the Revolving Credit Facility is carved out
\n
into overdraft facilities. A total of $16.5 million was drawn under the overdraft facilities at
\n
31 December 2025.
\n
During 2024, we acquired external financing as part of our business acquisition discussed
\n
in Note 17 Business Acquisitions and Disposalsabove. At 31 December 2025 the balance
\n
\n
of finance relating to these acquisitions was $5.5 million, the majority of which was added
\n
on the consolidation of Iceland Drilling.
\n
We have finance arrangements relating to equipment in our Well Services and Platform
\n
Operation division. On 31 December 2025, the balance included in Other debt relating to
\n
these arrangements was $28.4 million.
\n
Movements in interest-bearing borrowings
\n
The table below provides a reconciliation of the Group\u2019s interest-bearing debt from the
\n
beginning to the end of the reporting period, distinguishing between current and non-current
\n
portions. It includes both cash flows, such as new borrowings and repayments, and non-
\n
cash movements, including changes in transaction costs and currency revaluation.
\n
\n
\n\n\n| Movements in interest-bearing borrowings | \n2024 | \n\n\n\n
\n\n| (In USD millions) | \nNon current | \nCurrent | \nTotal | \n\n\n\n
\n\n\n\n\n\n\n| Carrying amount as at 1 January | \n403.1 | \n 17.0 | \n 420.1 | \n\n\n\n
\n\n| Cash flows: | \n | \n | \n | \n\n\n\n
\n\n| New bond issue | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Repayment of bonds | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Net borrowing under RCF, and other long-term debt | \n 17.1 | \n \u2014 | \n 17.1 | \n\n\n\n
\n\n| Repayment under RCF, and other long-termdebt | \n(18.9) | \n \u2014 | \n(18.9) | \n\n\n\n
\n\n| Transaction fees in relation to refinancing | \n \u2014 | \n \u2014 | \n \u2014 | \n\n\n\n
\n\n| Non-cash flows | \n | \n | \n | \n\n\n\n
\n\n| Aqcuired debt | \n 11.9 | \n 6.2 | \n18.1 | \n\n\n\n
\n\n| Change in prepaid debt fees | \n 7.0 | \n \u2014 | \n 7.0 | \n\n\n\n
\n\n| Change due to currency revaluation | \n(2.1) | \n \u2014 | \n(2.1) | \n\n\n\n
\n\n| Carrying amount as at 31 December | \n 418.1 | \n23.2 | \n441.3 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n
\n\n\n| Movements in interest-bearing borrowings | \n2025 | \n\n\n\n
\n\n| (In USD millions) | \nNon current | \nCurrent | \nTotal | \n\n\n\n
\n\n\n\n\n\n\n| Carrying amount as at 1 January | \n 418.1 | \n 23.2 | \n441.3 | \n\n\n\n
\n\n| Cash flows: | \n | \n | \n | \n\n\n\n
\n\n| New bond issue | \n 412.8 | \n 15.0 | \n 427.8 | \n\n\n\n
\n\n| Repayment of bonds | \n(218.1) | \n\u2014 | \n(218.1) | \n\n\n\n
\n\n| Net borrowing under RCF, and other long-term debt | \n 51.5 | \n 16.5 | \n 68.0 | \n\n\n\n
\n\n| Repayment under RCF, and other long-termdebt | \n(242.9) | \n(23.4) | \n(266.3) | \n\n\n\n
\n\n| Transaction fees in relation to refinancing | \n(8.9) | \n\u2014 | \n(8.9) | \n\n\n\n
\n\n| Non-cash flows | \n | \n | \n | \n\n\n\n
\n\n| Aqcuired debt | \n 2.1 | \n\u2014 | \n 2.1 | \n\n\n\n
\n\n| Change in prepaid debt fees | \n12.4 | \n6.4 | \n18.8 | \n\n\n\n
\n\n| Change due to currency revaluation | \n 3.3 | \n\u2014 | \n3.3 | \n\n\n\n
\n\n| Carrying amount as at 31 December | \n430.1 | \n37.8 | \n467.9 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n\n\n
\n\n\n\n
\n\n
Note 23 Interest-bearing debt
\n
\n
\n\n\n | \n | \n | \n31 Dec. 2025 | \n | \n | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n | \n | \n | \n | \n | \n | \n(Restated) | \n\n\n\n\n\n\n\n
\n\n| (In USD millions) | \nLoan balance | \nUnamortised | \nLoan balance less | \nLoan balance | \nUnamortised | \nLoan balance less | \n\n\n\n\n\n\n\n
\n\n | \n | \ndebt issuance | \nunamortised debt | \n | \ndebt issuance | \nunamortised debt | \n\n\n\n\n\n\n\n
\n\n | \n | \ncosts | \nissuance costs | \n | \ncosts | \nissuance costs | \n\n\n\n\n\n\n\n
\n\n| First Lien Facility | \n\u2014 | \n\u2014 | \n\u2014 | \n207.5 | \n(2.3) | \n205.2 | \n\n\n\n\n\n\n\n
\n\n| Second Lien Bond | \n\u2014 | \n\u2014 | \n\u2014 | \n215.4 | \n(15.0) | \n200.4 | \n\n\n\n\n\n\n\n
\n\n| Senior Secured Bonds | \n425.0 | \n(6.5) | \n418.5 | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n
\n\n| Overdraft facilities (RCF) | \n16.5 | \n(1.0) | \n15.5 | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n
\n\n| Other loans | \n33.9 | \n\u2014 | \n33.9 | \n35.8 | \n\u2014 | \n35.8 | \n\n\n\n\n\n\n\n
\n\n| Total interest-bearing debt | \n475.4 | \n(7.5) | \n467.9 | \n458.7 | \n(17.4) | \n441.3 | \n\n\n\n\n\n\n\n
\n\n| Less: current portion | \n(39.7) | \n1.9 | \n(37.8) | \n(29.7) | \n6.4 | \n(23.2) | \n\n\n\n\n\n\n\n
\n\n| Long-term portion | \n435.7 | \n(5.6) | \n430.1 | \n429.0 | \n(10.9) | \n418.1 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
In February 2025, we completed a refinancing of our debt, replacing the first and second
\n
lien facilities with a new 5 year $425 million senior secured bond.
\n
Senior Secured Bonds
\n
In February 2025, Archer's indirectly wholly owned subsidiary, Archer Norge AS, issued 5
\n
year $425 million senior secured bonds, carrying a coupon of 9.5% (the \"Senior Secured
\n
Bonds\"). The proceeds from the bonds' issuance were applied towards the full repayment
\n
of the First Lien Facility and the Second Lien Bond.
\n
From 2026, the Company will redeem $15 million of the bonds annually. The Company
\n
has an option to redeem the bonds at (i) the make-whole price for the first 3.0 years, (ii) at
\n
104.75% of the nominal amount after 3.0 years until 3.5 years, (iii) at 103.8% of the nominal
\n
amount after 3.5 years until 4.0 years, (iv) at 102.85% of the nominal amount after 4.0 years
\n
until 4.5 years, and (v) at 100.5% after 4.5 years. The Senior Secured Bonds shares the
\n
same security as the Revolving Credit Facility, subject to the senior status of the Revolving
\n
Credit Facility.
\n
The Senior Secured Bonds contains certain financial covenants, including, among others:
\n
\u2022 The Company shall ensure that the free liquidity of the Group is at all times the higher
\n
of $30 million and 5.00 percent of gross interest-bearing debt.
\n
\u2022 The Company shall ensure that the interest coverage ratio is minimum 2.00:1.
\n
The Senior Secured Bonds contains events of default which include payment defaults,
\n
breach of financial covenants, breach of other obligations, breach of representations and
\n
warranties, insolvency, illegality, unenforceability, curtailment of business, claims against
\n
an obligor\u2019s assets, appropriation of an obligor\u2019s assets, failure to maintain exchange listing,
\n
material adverse effect, repudiation and material litigation. In addition, there are cross default
\n
clauses in the event of the obligor defaulting on other issued debt.
\n
As of 31 December 2025, the Company is compliant with all covenants under the Senior
\n
Secured Bonds.
\n
Revolving Credit Facility
\n
In connection with the Senior Secured Bonds issuance, Archer established a $75 million
\n
revolving credit facility, ranking super senior to the Senior Secured Bonds, with a tenor of
\n
4.5 years (the \"RCF\"). The interest on the loan is Secured Overnight Financing Rate, or
\n
\u201cSOFR\u201d + a margin of 300 basis points. In addition, Archer established a guarantee facility
\n
of $5 million. The total $75.0 million of the RCF is carved out into two overdraft facility of
\n
$35.0 million and $40.0 million respectively. The RCF is secured by pledges over shares in
\n
material subsidiaries, assignment over intercompany debt and guarantees issued by the
\n
material subsidiaries.
\n
The RCF contains certain financial covenants, including, among others:
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag462": {
"value": "\n\u2022 The Company shall ensure that the free liquidity of the Group is at all times the higher
\nof $30 million and 5.00 percent of gross interest-bearing debt.
\n\u2022 The Company shall ensure that the interest coverage ratio is minimum 2.50:1.
\nThe RCF contains events of default which include payment defaults, breach of financial
\ncovenants, breach of other obligations, breach of representations and warranties,
\ninsolvency, illegality, unenforceability, curtailment of business, claims against an obligor\u2019s
\nassets, appropriation of an obligor\u2019s assets, failure to maintain exchange listing, material
\nadverse effect, repudiation and material litigation. In addition, there are cross default clauses
\nin the event of the obligor defaulting on other issued debt.
\nAs of 31 December 2025, the Company is compliant with all covenants under this RCF.
\nOther loans
\nAs described above, a total of $75.0 million of the Revolving Credit Facility is carved out
\ninto overdraft facilities. A total of $16.5 million was drawn under the overdraft facilities at
\n31 December 2025.
\nDuring 2024, we acquired external financing as part of our business acquisition discussed
\nin Note 17 Business Acquisitions and Disposalsabove. At 31 December 2025 the balance
\n
\nof finance relating to these acquisitions was $5.5 million, the majority of which was added
\non the consolidation of Iceland Drilling.
\nWe have finance arrangements relating to equipment in our Well Services and Platform
\nOperation division. On 31 December 2025, the balance included in Other debt relating to
\nthese arrangements was $28.4 million.
\nMovements in interest-bearing borrowings
\nThe table below provides a reconciliation of the Group\u2019s interest-bearing debt from the
\nbeginning to the end of the reporting period, distinguishing between current and non-current
\nportions. It includes both cash flows, such as new borrowings and repayments, and non-
\ncash movements, including changes in transaction costs and currency revaluation.
\n\n
\n\n\n| Movements in interest-bearing borrowings | \n2024 | \n\n\n\n
\n\n| (In USD millions) | \nNon current | \nCurrent | \nTotal | \n\n\n\n
\n\n\n\n\n\n\n| Carrying amount as at 1 January | \n403.1 | \n 17.0 | \n 420.1 | \n\n\n\n
\n\n| Cash flows: | \n | \n | \n | \n\n\n\n
\n\n| New bond issue | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Repayment of bonds | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Net borrowing under RCF, and other long-term debt | \n 17.1 | \n \u2014 | \n 17.1 | \n\n\n\n
\n\n| Repayment under RCF, and other long-termdebt | \n(18.9) | \n \u2014 | \n(18.9) | \n\n\n\n
\n\n| Transaction fees in relation to refinancing | \n \u2014 | \n \u2014 | \n \u2014 | \n\n\n\n
\n\n| Non-cash flows | \n | \n | \n | \n\n\n\n
\n\n| Aqcuired debt | \n 11.9 | \n 6.2 | \n18.1 | \n\n\n\n
\n\n| Change in prepaid debt fees | \n 7.0 | \n \u2014 | \n 7.0 | \n\n\n\n
\n\n| Change due to currency revaluation | \n(2.1) | \n \u2014 | \n(2.1) | \n\n\n\n
\n\n| Carrying amount as at 31 December | \n 418.1 | \n23.2 | \n441.3 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n\n\n| Movements in interest-bearing borrowings | \n2025 | \n\n\n\n
\n\n| (In USD millions) | \nNon current | \nCurrent | \nTotal | \n\n\n\n
\n\n\n\n\n\n\n| Carrying amount as at 1 January | \n 418.1 | \n 23.2 | \n441.3 | \n\n\n\n
\n\n| Cash flows: | \n | \n | \n | \n\n\n\n
\n\n| New bond issue | \n 412.8 | \n 15.0 | \n 427.8 | \n\n\n\n
\n\n| Repayment of bonds | \n(218.1) | \n\u2014 | \n(218.1) | \n\n\n\n
\n\n| Net borrowing under RCF, and other long-term debt | \n 51.5 | \n 16.5 | \n 68.0 | \n\n\n\n
\n\n| Repayment under RCF, and other long-termdebt | \n(242.9) | \n(23.4) | \n(266.3) | \n\n\n\n
\n\n| Transaction fees in relation to refinancing | \n(8.9) | \n\u2014 | \n(8.9) | \n\n\n\n
\n\n| Non-cash flows | \n | \n | \n | \n\n\n\n
\n\n| Aqcuired debt | \n 2.1 | \n\u2014 | \n 2.1 | \n\n\n\n
\n\n| Change in prepaid debt fees | \n12.4 | \n6.4 | \n18.8 | \n\n\n\n
\n\n| Change due to currency revaluation | \n 3.3 | \n\u2014 | \n3.3 | \n\n\n\n
\n\n| Carrying amount as at 31 December | \n430.1 | \n37.8 | \n467.9 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n\n\n\nNote 23 Interest-bearing debt
\n\n
\n\n\n | \n | \n | \n31 Dec. 2025 | \n | \n | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n
\n\n | \n | \n | \n | \n | \n | \n(Restated) | \n\n\n\n\n\n\n\n
\n\n| (In USD millions) | \nLoan balance | \nUnamortised | \nLoan balance less | \nLoan balance | \nUnamortised | \nLoan balance less | \n\n\n\n\n\n\n\n
\n\n | \n | \ndebt issuance | \nunamortised debt | \n | \ndebt issuance | \nunamortised debt | \n\n\n\n\n\n\n\n
\n\n | \n | \ncosts | \nissuance costs | \n | \ncosts | \nissuance costs | \n\n\n\n\n\n\n\n
\n\n| First Lien Facility | \n\u2014 | \n\u2014 | \n\u2014 | \n207.5 | \n(2.3) | \n205.2 | \n\n\n\n\n\n\n\n
\n\n| Second Lien Bond | \n\u2014 | \n\u2014 | \n\u2014 | \n215.4 | \n(15.0) | \n200.4 | \n\n\n\n\n\n\n\n
\n\n| Senior Secured Bonds | \n425.0 | \n(6.5) | \n418.5 | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n
\n\n| Overdraft facilities (RCF) | \n16.5 | \n(1.0) | \n15.5 | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n
\n\n| Other loans | \n33.9 | \n\u2014 | \n33.9 | \n35.8 | \n\u2014 | \n35.8 | \n\n\n\n\n\n\n\n
\n\n| Total interest-bearing debt | \n475.4 | \n(7.5) | \n467.9 | \n458.7 | \n(17.4) | \n441.3 | \n\n\n\n\n\n\n\n
\n\n| Less: current portion | \n(39.7) | \n1.9 | \n(37.8) | \n(29.7) | \n6.4 | \n(23.2) | \n\n\n\n\n\n\n\n
\n\n| Long-term portion | \n435.7 | \n(5.6) | \n430.1 | \n429.0 | \n(10.9) | \n418.1 | \n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
In February 2025, we completed a refinancing of our debt, replacing the first and second
\nlien facilities with a new 5 year $425 million senior secured bond.
\nSenior Secured Bonds
\nIn February 2025, Archer's indirectly wholly owned subsidiary, Archer Norge AS, issued 5
\nyear $425 million senior secured bonds, carrying a coupon of 9.5% (the \"Senior Secured
\nBonds\"). The proceeds from the bonds' issuance were applied towards the full repayment
\nof the First Lien Facility and the Second Lien Bond.
\nFrom 2026, the Company will redeem $15 million of the bonds annually. The Company
\nhas an option to redeem the bonds at (i) the make-whole price for the first 3.0 years, (ii) at
\n104.75% of the nominal amount after 3.0 years until 3.5 years, (iii) at 103.8% of the nominal
\namount after 3.5 years until 4.0 years, (iv) at 102.85% of the nominal amount after 4.0 years
\nuntil 4.5 years, and (v) at 100.5% after 4.5 years. The Senior Secured Bonds shares the
\nsame security as the Revolving Credit Facility, subject to the senior status of the Revolving
\nCredit Facility.
\nThe Senior Secured Bonds contains certain financial covenants, including, among others:
\n\u2022 The Company shall ensure that the free liquidity of the Group is at all times the higher
\nof $30 million and 5.00 percent of gross interest-bearing debt.
\n\u2022 The Company shall ensure that the interest coverage ratio is minimum 2.00:1.
\nThe Senior Secured Bonds contains events of default which include payment defaults,
\nbreach of financial covenants, breach of other obligations, breach of representations and
\nwarranties, insolvency, illegality, unenforceability, curtailment of business, claims against
\nan obligor\u2019s assets, appropriation of an obligor\u2019s assets, failure to maintain exchange listing,
\nmaterial adverse effect, repudiation and material litigation. In addition, there are cross default
\nclauses in the event of the obligor defaulting on other issued debt.
\nAs of 31 December 2025, the Company is compliant with all covenants under the Senior
\nSecured Bonds.
\nRevolving Credit Facility
\nIn connection with the Senior Secured Bonds issuance, Archer established a $75 million
\nrevolving credit facility, ranking super senior to the Senior Secured Bonds, with a tenor of
\n4.5 years (the \"RCF\"). The interest on the loan is Secured Overnight Financing Rate, or
\n\u201cSOFR\u201d + a margin of 300 basis points. In addition, Archer established a guarantee facility
\nof $5 million. The total $75.0 million of the RCF is carved out into two overdraft facility of
\n$35.0 million and $40.0 million respectively. The RCF is secured by pledges over shares in
\nmaterial subsidiaries, assignment over intercompany debt and guarantees issued by the
\nmaterial subsidiaries.
\nThe RCF contains certain financial covenants, including, among others:
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag477": {
"value": "\n
\n\n
\n
\n
Note 24 Fair value of Financial Instruments
\n
The estimated fair value and the carrying value of our financial instruments are as follows:
\n
\n
\n\n\n| Carrying value of financial instruments | \n 31 Dec. 2025 | \n 31 Dec. 2024 | \n\n\n\n
\n\n | \n | \n | \nRestated | \n\n\n\n
\n\n| (In USD millions) | \nFair | \nCarrying | \nFair | \nCarrying | \n\n\n\n
\n\n | \nValue | \nValue | \nValue | \nValue | \n\n\n\n
\n\n| Non-derivatives | \n | \n | \n | \n | \n\n\n\n
\n\n| Cash and cash equivalents | \n38.8 | \n38.8 | \n76.8 | \n76.8 | \n\n\n\n
\n\n| Restricted cash | \n1.8 | \n1.8 | \n3.8 | \n3.8 | \n\n\n\n
\n\n| Trade receivable | \n187.8 | \n187.8 | \n187.8 | \n187.8 | \n\n\n\n
\n\n| Trade payable | \n(92.8) | \n(92.8) | \n(112.2) | \n(112.2) | \n\n\n\n
\n\n| Current portion of interest-bearing debt | \n(37.8) | \n(37.8) | \n(23.2) | \n(23.2) | \n\n\n\n
\n\n| Current portion of lease liability | \n(10.5) | \n(10.5) | \n(10.9) | \n(10.9) | \n\n\n\n
\n\n| Long-term interest-bearing debt | \n(25.0) | \n(25.0) | \n(213.6) | \n(213.6) | \n\n\n\n
\n\n| Bonds (long term) | \n(434.4) | \n(405.1) | \n(228.8) | \n(215.4) | \n\n\n\n
\n\n| Long-term lease liability | \n(48.9) | \n(48.9) | \n(15.6) | \n(15.6) | \n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n
\n
The aforementioned financial assets are measured at fair value on a recurring basis as
\n
follows:
\n
\n
\n\n\n| Financial assets and liabilities | \n 31 Dec. 2025 | \nFair ValueMeasurements atReporting Date Using | \n\n\n\n
\n\n| (In USD millions) | \nFair Value | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n
\n\n\n\n\n\n\n| Assets | \n | \n | \n | \n | \n\n\n\n
\n\n| Cash and cash equivalents | \n40.6 | \n40.6 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Trade receivable | \n187.8 | \n\u2014 | \n187.8 | \n\u2014 | \n\n\n\n
\n\n | \n | \n | \n | \n | \n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n\n\n\n
\n\n| Trade payable | \n(107.8) | \n\u2014 | \n(107.8) | \n\u2014 | \n\n\n\n
\n\n| Current portion of interest-bearing debt | \n(37.8) | \n\u2014 | \n(37.8) | \n\u2014 | \n\n\n\n
\n\n| Current portion of lease liability | \n(11.3) | \n\u2014 | \n(11.3) | \n\u2014 | \n\n\n\n
\n\n| Long-term, interest\u2011bearing debt | \n(25.0) | \n\u2014 | \n(25.0) | \n\u2014 | \n\n\n\n
\n\n| Bonds (long term) | \n(434.4) | \n\u2014 | \n(405.1) | \n\u2014 | \n\n\n\n
\n\n| Long-term lease liability | \n(48.1) | \n\u2014 | \n(48.1) | \n\u2014 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n
\n\n\n| Financial assets and liabilities | \n31 Dec. 2024 | \n Fair ValueMeasurements atReporting Date Using | \n\n\n\n
\n\n| (In USD millions) | \nFair Value | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n
\n\n\n\n\n\n\n| Assets | \n | \n | \n | \n | \n\n\n\n
\n\n| Cash and cash equivalents | \n80.6 | \n80.6 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Trade receivable | \n187.8 | \n\u2014 | \n187.8 | \n\u2014 | \n\n\n\n
\n\n | \n | \n | \n | \n | \n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n\n\n\n
\n\n| Trade payable | \n(112.2) | \n\u2014 | \n(112.2) | \n\u2014 | \n\n\n\n
\n\n| Current portion of interest-bearing debt | \n(23.2) | \n\u2014 | \n(23.2) | \n\u2014 | \n\n\n\n
\n\n| Current portion of operating lease liability | \n(10.5) | \n\u2014 | \n(10.5) | \n\u2014 | \n\n\n\n
\n\n| Long-term, interest\u2011bearing debt | \n(213.6) | \n\u2014 | \n(213.6) | \n\u2014 | \n\n\n\n
\n\n| Second Lien Bond | \n(228.8) | \n\u2014 | \n(215.4) | \n\u2014 | \n\n\n\n
\n\n| Long-term lease liability | \n(15.6) | \n\u2014 | \n(15.6) | \n\u2014 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
Level 1: Quoted prices in active markets for identical assets
\n
Level 2: Significant other observable inputs
\n
Level 3: Significant unobservable inputs
\n
\n\n\n
\n
\n\n\n
\n\n\n\n
\n\n
\n
\n
We used a variety of methods and assumptions, which are based on market conditions
\n
and risks existing at the time, to estimate the fair value of our financial instruments. For
\n
certain instruments, including cash and cash equivalents, it is assumed that the carrying
\n
amount approximated fair value due to the short\u2011term maturity of those instruments.
\n
The fair value of Bonds is based on the last reported trading price of the Bonds prior to the
\n
close of the year.
\n
The fair value of the current portion of long-term debt is estimated to be equal to the carrying
\n
value, since it is repayable within twelve months. The fair value of the long\u2011term portion of
\n
floating rate debt is estimated to be equal to the carrying value adjusted for the prepaid
\n
debt fees (outstanding balance), since it bears variable interest rates, which are reset on a
\n
quarterly basis. This debt is not freely tradable, and we cannot purchase them at prices
\n
other than the outstanding balance plus accrued interest.
\n
Restricted cash consists mainly of bank deposits arising from advance employee tax
\n
withholdings.
\n
\n\n\n
\n
\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag473": {
"value": "\n
\n\n
Note 24 Fair value of Financial Instruments
\n
The estimated fair value and the carrying value of our financial instruments are as follows:
\n
\n
\n\n\n| Carrying value of financial instruments | \n 31 Dec. 2025 | \n 31 Dec. 2024 | \n\n\n\n
\n\n | \n | \n | \nRestated | \n\n\n\n
\n\n| (In USD millions) | \nFair | \nCarrying | \nFair | \nCarrying | \n\n\n\n
\n\n | \nValue | \nValue | \nValue | \nValue | \n\n\n\n
\n\n| Non-derivatives | \n | \n | \n | \n | \n\n\n\n
\n\n| Cash and cash equivalents | \n38.8 | \n38.8 | \n76.8 | \n76.8 | \n\n\n\n
\n\n| Restricted cash | \n1.8 | \n1.8 | \n3.8 | \n3.8 | \n\n\n\n
\n\n| Trade receivable | \n187.8 | \n187.8 | \n187.8 | \n187.8 | \n\n\n\n
\n\n| Trade payable | \n(92.8) | \n(92.8) | \n(112.2) | \n(112.2) | \n\n\n\n
\n\n| Current portion of interest-bearing debt | \n(37.8) | \n(37.8) | \n(23.2) | \n(23.2) | \n\n\n\n
\n\n| Current portion of lease liability | \n(10.5) | \n(10.5) | \n(10.9) | \n(10.9) | \n\n\n\n
\n\n| Long-term interest-bearing debt | \n(25.0) | \n(25.0) | \n(213.6) | \n(213.6) | \n\n\n\n
\n\n| Bonds (long term) | \n(434.4) | \n(405.1) | \n(228.8) | \n(215.4) | \n\n\n\n
\n\n| Long-term lease liability | \n(48.9) | \n(48.9) | \n(15.6) | \n(15.6) | \n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n
\n
The aforementioned financial assets are measured at fair value on a recurring basis as
\n
follows:
\n
\n
\n\n\n| Financial assets and liabilities | \n 31 Dec. 2025 | \nFair ValueMeasurements atReporting Date Using | \n\n\n\n
\n\n| (In USD millions) | \nFair Value | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n
\n\n\n\n\n\n\n| Assets | \n | \n | \n | \n | \n\n\n\n
\n\n| Cash and cash equivalents | \n40.6 | \n40.6 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Trade receivable | \n187.8 | \n\u2014 | \n187.8 | \n\u2014 | \n\n\n\n
\n\n | \n | \n | \n | \n | \n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n\n\n\n
\n\n| Trade payable | \n(107.8) | \n\u2014 | \n(107.8) | \n\u2014 | \n\n\n\n
\n\n| Current portion of interest-bearing debt | \n(37.8) | \n\u2014 | \n(37.8) | \n\u2014 | \n\n\n\n
\n\n| Current portion of lease liability | \n(11.3) | \n\u2014 | \n(11.3) | \n\u2014 | \n\n\n\n
\n\n| Long-term, interest\u2011bearing debt | \n(25.0) | \n\u2014 | \n(25.0) | \n\u2014 | \n\n\n\n
\n\n| Bonds (long term) | \n(434.4) | \n\u2014 | \n(405.1) | \n\u2014 | \n\n\n\n
\n\n| Long-term lease liability | \n(48.1) | \n\u2014 | \n(48.1) | \n\u2014 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n
\n\n\n| Financial assets and liabilities | \n31 Dec. 2024 | \n Fair ValueMeasurements atReporting Date Using | \n\n\n\n
\n\n| (In USD millions) | \nFair Value | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n
\n\n\n\n\n\n\n| Assets | \n | \n | \n | \n | \n\n\n\n
\n\n| Cash and cash equivalents | \n80.6 | \n80.6 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Trade receivable | \n187.8 | \n\u2014 | \n187.8 | \n\u2014 | \n\n\n\n
\n\n | \n | \n | \n | \n | \n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n\n\n\n
\n\n| Trade payable | \n(112.2) | \n\u2014 | \n(112.2) | \n\u2014 | \n\n\n\n
\n\n| Current portion of interest-bearing debt | \n(23.2) | \n\u2014 | \n(23.2) | \n\u2014 | \n\n\n\n
\n\n| Current portion of operating lease liability | \n(10.5) | \n\u2014 | \n(10.5) | \n\u2014 | \n\n\n\n
\n\n| Long-term, interest\u2011bearing debt | \n(213.6) | \n\u2014 | \n(213.6) | \n\u2014 | \n\n\n\n
\n\n| Second Lien Bond | \n(228.8) | \n\u2014 | \n(215.4) | \n\u2014 | \n\n\n\n
\n\n| Long-term lease liability | \n(15.6) | \n\u2014 | \n(15.6) | \n\u2014 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
Level 1: Quoted prices in active markets for identical assets
\n
Level 2: Significant other observable inputs
\n
Level 3: Significant unobservable inputs
\n
\n\n\n
\n\n\n\n
\n\n
We used a variety of methods and assumptions, which are based on market conditions
\n
and risks existing at the time, to estimate the fair value of our financial instruments. For
\n
certain instruments, including cash and cash equivalents, it is assumed that the carrying
\n
amount approximated fair value due to the short\u2011term maturity of those instruments.
\n
The fair value of Bonds is based on the last reported trading price of the Bonds prior to the
\n
close of the year.
\n
The fair value of the current portion of long-term debt is estimated to be equal to the carrying
\n
value, since it is repayable within twelve months. The fair value of the long\u2011term portion of
\n
floating rate debt is estimated to be equal to the carrying value adjusted for the prepaid
\n
debt fees (outstanding balance), since it bears variable interest rates, which are reset on a
\n
quarterly basis. This debt is not freely tradable, and we cannot purchase them at prices
\n
other than the outstanding balance plus accrued interest.
\n
Restricted cash consists mainly of bank deposits arising from advance employee tax
\n
withholdings.
\n
\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag475": {
"value": "\nNote 24 Fair value of Financial Instruments
\nThe estimated fair value and the carrying value of our financial instruments are as follows:
\n\n
\n\n\n| Carrying value of financial instruments | \n 31 Dec. 2025 | \n 31 Dec. 2024 | \n\n\n\n
\n\n | \n | \n | \nRestated | \n\n\n\n
\n\n| (In USD millions) | \nFair | \nCarrying | \nFair | \nCarrying | \n\n\n\n
\n\n | \nValue | \nValue | \nValue | \nValue | \n\n\n\n
\n\n| Non-derivatives | \n | \n | \n | \n | \n\n\n\n
\n\n| Cash and cash equivalents | \n38.8 | \n38.8 | \n76.8 | \n76.8 | \n\n\n\n
\n\n| Restricted cash | \n1.8 | \n1.8 | \n3.8 | \n3.8 | \n\n\n\n
\n\n| Trade receivable | \n187.8 | \n187.8 | \n187.8 | \n187.8 | \n\n\n\n
\n\n| Trade payable | \n(92.8) | \n(92.8) | \n(112.2) | \n(112.2) | \n\n\n\n
\n\n| Current portion of interest-bearing debt | \n(37.8) | \n(37.8) | \n(23.2) | \n(23.2) | \n\n\n\n
\n\n| Current portion of lease liability | \n(10.5) | \n(10.5) | \n(10.9) | \n(10.9) | \n\n\n\n
\n\n| Long-term interest-bearing debt | \n(25.0) | \n(25.0) | \n(213.6) | \n(213.6) | \n\n\n\n
\n\n| Bonds (long term) | \n(434.4) | \n(405.1) | \n(228.8) | \n(215.4) | \n\n\n\n
\n\n| Long-term lease liability | \n(48.9) | \n(48.9) | \n(15.6) | \n(15.6) | \n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n
The aforementioned financial assets are measured at fair value on a recurring basis as
\nfollows:
\n\n
\n\n\n| Financial assets and liabilities | \n 31 Dec. 2025 | \nFair ValueMeasurements atReporting Date Using | \n\n\n\n
\n\n| (In USD millions) | \nFair Value | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n
\n\n\n\n\n\n\n| Assets | \n | \n | \n | \n | \n\n\n\n
\n\n| Cash and cash equivalents | \n40.6 | \n40.6 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Trade receivable | \n187.8 | \n\u2014 | \n187.8 | \n\u2014 | \n\n\n\n
\n\n | \n | \n | \n | \n | \n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n\n\n\n
\n\n| Trade payable | \n(107.8) | \n\u2014 | \n(107.8) | \n\u2014 | \n\n\n\n
\n\n| Current portion of interest-bearing debt | \n(37.8) | \n\u2014 | \n(37.8) | \n\u2014 | \n\n\n\n
\n\n| Current portion of lease liability | \n(11.3) | \n\u2014 | \n(11.3) | \n\u2014 | \n\n\n\n
\n\n| Long-term, interest\u2011bearing debt | \n(25.0) | \n\u2014 | \n(25.0) | \n\u2014 | \n\n\n\n
\n\n| Bonds (long term) | \n(434.4) | \n\u2014 | \n(405.1) | \n\u2014 | \n\n\n\n
\n\n| Long-term lease liability | \n(48.1) | \n\u2014 | \n(48.1) | \n\u2014 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n\n\n| Financial assets and liabilities | \n31 Dec. 2024 | \n Fair ValueMeasurements atReporting Date Using | \n\n\n\n
\n\n| (In USD millions) | \nFair Value | \nLevel 1 | \nLevel 2 | \nLevel 3 | \n\n\n\n
\n\n\n\n\n\n\n| Assets | \n | \n | \n | \n | \n\n\n\n
\n\n| Cash and cash equivalents | \n80.6 | \n80.6 | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Trade receivable | \n187.8 | \n\u2014 | \n187.8 | \n\u2014 | \n\n\n\n
\n\n | \n | \n | \n | \n | \n\n\n\n
\n\n| Liabilities | \n | \n | \n | \n | \n\n\n\n
\n\n| Trade payable | \n(112.2) | \n\u2014 | \n(112.2) | \n\u2014 | \n\n\n\n
\n\n| Current portion of interest-bearing debt | \n(23.2) | \n\u2014 | \n(23.2) | \n\u2014 | \n\n\n\n
\n\n| Current portion of operating lease liability | \n(10.5) | \n\u2014 | \n(10.5) | \n\u2014 | \n\n\n\n
\n\n| Long-term, interest\u2011bearing debt | \n(213.6) | \n\u2014 | \n(213.6) | \n\u2014 | \n\n\n\n
\n\n| Second Lien Bond | \n(228.8) | \n\u2014 | \n(215.4) | \n\u2014 | \n\n\n\n
\n\n| Long-term lease liability | \n(15.6) | \n\u2014 | \n(15.6) | \n\u2014 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
Level 1: Quoted prices in active markets for identical assets
\nLevel 2: Significant other observable inputs
\nLevel 3: Significant unobservable inputs
\n
\n\n\n\nWe used a variety of methods and assumptions, which are based on market conditions
\nand risks existing at the time, to estimate the fair value of our financial instruments. For
\ncertain instruments, including cash and cash equivalents, it is assumed that the carrying
\namount approximated fair value due to the short\u2011term maturity of those instruments.
\nThe fair value of Bonds is based on the last reported trading price of the Bonds prior to the
\nclose of the year.
\nThe fair value of the current portion of long-term debt is estimated to be equal to the carrying
\nvalue, since it is repayable within twelve months. The fair value of the long\u2011term portion of
\nfloating rate debt is estimated to be equal to the carrying value adjusted for the prepaid
\ndebt fees (outstanding balance), since it bears variable interest rates, which are reset on a
\nquarterly basis. This debt is not freely tradable, and we cannot purchase them at prices
\nother than the outstanding balance plus accrued interest.
\nRestricted cash consists mainly of bank deposits arising from advance employee tax
\nwithholdings.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag505": {
"value": "\n
\n\n
\n
\n
Note 25 Leasing
\n
The Group leases office space, equipment, and operating assets at various locations. At
\n
the commencement date of a lease, we recognise a right-of-use (ROU) asset and a
\n
corresponding lease liability for all leases, except for those with a lease term of twelve
\n
months or less or for low-value assets, which are expensed on a straight-line basis over
\n
the lease term. The leases have remaining lease terms of 1 to 13 years at 31 December
\n
2025. Some operating leases include options to extend the leases for up to 20 years.
\n
The lease liability is initially measured at the present value of lease payments that are not
\n
paid at that date, discounted using the interest rate implicit in the lease, or if that rate cannot
\n
be readily determined, the Group\u2019s incremental borrowing rate. Each lease payment is
\n
allocated between a reduction of the lease liability and a finance cost, using the effective
\n
interest method to produce a constant periodic rate of interest on the remaining balance
\n
of the liability.
\n
The right-of-use asset is initially measured at cost, which comprises the initial amount of
\n
the lease liability, any lease payments made at or before the commencement date, and any
\n
initial direct costs, less lease incentives received. The ROU asset is subsequently
\n
depreciated on a straight-line basis over the shortest of the asset\u2019s estimated useful life
\n
and the lease term. Depreciation of right-of-use assets is presented within Depreciation
\n
and amortisation expense in the Consolidated Statement of Operations. Interest expense
\n
on the lease liability is recognised in the Consolidated Statement of Operations over the
\n
lease term.
\n
Details of leased assets are reported in note 9.
\n
For the capitalisation of right of use assets, we have calculated an incremental borrowing
\n
rate, or IBR, for discounting each lease\u2019s cash-flows to arrive at an initial value for the lease
\n
liability and right of use asset. The IBR is calculated as a function of the following elements/
\n
considerations;
\n
\u2022 Base rate \u2013 generally the inter-bank lending rate in the relevant jurisdictions,
\n
\u2022 Credit spread \u2013 we estimate the effect of the lessee credit worthiness
\n
\u2022 Country risk premium
\n
\u2022 Inflation differential
\n
\u2022 Contract term
\n
\u2022 Security or collateral provided in the lease contract.
\n
Significant judgment is required in estimating some of these elements. We apply a consistent
\n
methodology in estimating IBR for each lease.
\n
\n\n\n
\n
\n\n\n
\n\n\n\n
\n\n
\n
\n
We have elected not to recognise the right of use of assets and lease liability for short term
\n
leases.
\n
\n\n\n
\n
\n\n\n
The Company\u2019s leasing activities for the year ended 31 December 2025 is analysed in the
\ntable below;
\nLease obligations
\n\n
\n\n\n| (In USD million) | \n | \n\n\n\n
\n\n\n\n\n\n\n| Lease obligations at 1 January 2024 | \n34.4 | \n\n\n\n
\n\n| Effect of transition to IFRS | \n\u2014 | \n\n\n\n
\n\n| New leases | \n\u2014 | \n\n\n\n
\n\n| Acquired on business acquisition | \n\u2014 | \n\n\n\n
\n\n| Repayments | \n(8.0) | \n\n\n\n
\n\n| Translation adjustments | \n\u2014 | \n\n\n\n
\n\n| Lease obligations at 31 December 2024 | \n26.4 | \n\n\n\n
\n\n | \n | \n\n\n\n
\n\n| New lease capitalisations | \n32.5 | \n\n\n\n
\n\n| Acquired on business acquisition | \n3.8 | \n\n\n\n
\n\n| Repayments | \n(8.0) | \n\n\n\n
\n\n| Capitalised leases terminated | \n(0.6) | \n\n\n\n
\n\n| Translation adjustments | \n5.3 | \n\n\n\n
\n\n| Lease obligations at 31 December 2025 | \n59.4 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
Corresponding right of use assets are included in Note 12 Right of use assets
\n
\nAmortization scedule for Leasing obligations
\n\n
\n\n\n | \nLease obligations | \n\n\n\n
\n\n\n\n\n\n\n| (In USD million) | \n | \n\n\n\n
\n\n| YEAR | \n | \n\n\n\n
\n\n| 2026 | \n10.5 | \n\n\n\n
\n\n| 2027 | \n11.5 | \n\n\n\n
\n\n| 2028 | \n4.9 | \n\n\n\n
\n\n| 2029 | \n5.2 | \n\n\n\n
\n\n| Thereafter | \n27.3 | \n\n\n\n
\n\n| Total | \n59.4 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
Gross cash-flow commitments re leases are shown in Note 30 Liquidity risk
\n
\nSupplemental information 31 December 2025
\n\n
\n\n\n | \nShort term and lowvalue leases | \nCapitalisedleases | \n\n\n\n
\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n
\n\n| Interest on lease liabilities | \n\u2014 | \n4.4 | \n\n\n\n
\n\n| Total cash outflow for leases | \n40.6 | \n12.5 | \n\n\n\n
\n\n| Income from subleasing of right of use assets | \n\u2014 | \n\u2014 | \n\n\n\n
\n\n| Weighted average remaining lease term in years | \n\u2014 | \n8.7 | \n\n\n\n
\n\n| Weighted average discount rate | \n\u2014 | \n9.5% | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
Supplemental information 31 December 2024
\n\n
\n\n\n | \nShort term and lowvalue leases | \nCapitalisedleases | \n\n\n\n
\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n
\n\n| Interest on lease liabilities | \n\u2014 | \n3.4 | \n\n\n\n
\n\n| Total cash outflow for leases | \n38.4 | \n10.5 | \n\n\n\n
\n\n| Income from subleasing of right of use assets | \n\u2014 | \n0.1 | \n\n\n\n
\n\n| Weighted average remaining lease term in years | \n\u2014 | \n5.7 | \n\n\n\n
\n\n| Weighted average discount rate | \n\u2014 | \n9.2% | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n\n\n\n
\nNote 12 Right of use assets
\n\n
\n
\n\n\n | \nRight of useassetsrecognised | \nDepreciation | \nNBV of right ofuse assets | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 1 January 2024 | \n53.4 | \n(19.0) | \n34.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n\u2014 | \n\u2014 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n1.4 | \n\u2014 | \n1.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n\u2014 | \n(8.5) | \n(8.5) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n(0.9) | \n\u2014 | \n(0.9) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2024 | \n53.9 | \n(27.5) | \n26.4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n32.5 | \n\u2014 | \n32.5 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised on business acquisitions | \n6.0 | \n(2.3) | \n3.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n(1.5) | \n0.9 | \n(0.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n\u2014 | \n(9.7) | \n(9.7) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustments | \n5.3 | \n\u2014 | \n5.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| As of 31 December 2025 | \n96.2 | \n(38.6) | \n57.6 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
Right-of-use assets are related to properties and two operating lease agreements.
\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag448": {
"value": "\nNote 25 Leasing
\nThe Group leases office space, equipment, and operating assets at various locations. At
\nthe commencement date of a lease, we recognise a right-of-use (ROU) asset and a
\ncorresponding lease liability for all leases, except for those with a lease term of twelve
\nmonths or less or for low-value assets, which are expensed on a straight-line basis over
\nthe lease term. The leases have remaining lease terms of 1 to 13 years at 31 December
\n2025. Some operating leases include options to extend the leases for up to 20 years.
\nThe lease liability is initially measured at the present value of lease payments that are not
\npaid at that date, discounted using the interest rate implicit in the lease, or if that rate cannot
\nbe readily determined, the Group\u2019s incremental borrowing rate. Each lease payment is
\nallocated between a reduction of the lease liability and a finance cost, using the effective
\ninterest method to produce a constant periodic rate of interest on the remaining balance
\nof the liability.
\nThe right-of-use asset is initially measured at cost, which comprises the initial amount of
\nthe lease liability, any lease payments made at or before the commencement date, and any
\ninitial direct costs, less lease incentives received. The ROU asset is subsequently
\ndepreciated on a straight-line basis over the shortest of the asset\u2019s estimated useful life
\nand the lease term. Depreciation of right-of-use assets is presented within Depreciation
\nand amortisation expense in the Consolidated Statement of Operations. Interest expense
\non the lease liability is recognised in the Consolidated Statement of Operations over the
\nlease term.
\nDetails of leased assets are reported in note 9.
\nFor the capitalisation of right of use assets, we have calculated an incremental borrowing
\nrate, or IBR, for discounting each lease\u2019s cash-flows to arrive at an initial value for the lease
\nliability and right of use asset. The IBR is calculated as a function of the following elements/
\nconsiderations;
\n\u2022 Base rate \u2013 generally the inter-bank lending rate in the relevant jurisdictions,
\n\u2022 Credit spread \u2013 we estimate the effect of the lessee credit worthiness
\n\u2022 Country risk premium
\n\u2022 Inflation differential
\n\u2022 Contract term
\n\u2022 Security or collateral provided in the lease contract.
\nSignificant judgment is required in estimating some of these elements. We apply a consistent
\nmethodology in estimating IBR for each lease.
\n
\n\n\n\nWe have elected not to recognise the right of use of assets and lease liability for short term
\nleases.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag246": {
"value": "\nAccounting policy defined contribution plans For defined contribution plans, the Group
\npays contributions to publicly or privately administered pension insurance plans on a
\nmandatory, contractual basis. The Group has no further payment obligations once the
\ncontributions have been paid. The contributions are recognised as employee benefit
\nexpense when they are due.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag247": {
"value": "\n
\n\n
\n
\n
Note 27 Other current liabilities
\n
\n
\n\n\n| (In USD million) | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n
\n\n\n\n\n\n\n| Accrued expenses | \n146.9 | \n126.1 | \n\n\n\n
\n\n| VAT, employee and other taxes | \n29.0 | \n29.5 | \n\n\n\n
\n\n| Prepaid income | \n12.3 | \n10.4 | \n\n\n\n
\n\n| Accrued restructuring cost | \n- | \n4.9 | \n\n\n\n
\n\n| Other current liabilities | \n4.3 | \n10.3 | \n\n\n\n
\n\n| Total | \n192.3 | \n181.8 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n\n\n
\n
\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag248": {
"value": "\n
\n\n
Note 27 Other current liabilities
\n
\n
\n\n\n| (In USD million) | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n
\n\n\n\n\n\n\n| Accrued expenses | \n146.9 | \n126.1 | \n\n\n\n
\n\n| VAT, employee and other taxes | \n29.0 | \n29.5 | \n\n\n\n
\n\n| Prepaid income | \n12.3 | \n10.4 | \n\n\n\n
\n\n| Accrued restructuring cost | \n- | \n4.9 | \n\n\n\n
\n\n| Other current liabilities | \n4.3 | \n10.3 | \n\n\n\n
\n\n| Total | \n192.3 | \n181.8 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag249": {
"value": "\nNote 27 Other current liabilities
\n\n
\n\n\n| (In USD million) | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n
\n\n\n\n\n\n\n| Accrued expenses | \n146.9 | \n126.1 | \n\n\n\n
\n\n| VAT, employee and other taxes | \n29.0 | \n29.5 | \n\n\n\n
\n\n| Prepaid income | \n12.3 | \n10.4 | \n\n\n\n
\n\n| Accrued restructuring cost | \n- | \n4.9 | \n\n\n\n
\n\n| Other current liabilities | \n4.3 | \n10.3 | \n\n\n\n
\n\n| Total | \n192.3 | \n181.8 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag250": {
"value": "\n
\n\n
\n
\n
Note 28 Provisions and Contingent Liabilities
\n
\n
Purchase commitments
\n
As of 31 December 2025, we have committed to purchase obligations including capital
\n
expenditures amounting to $44.3 million, (2024: $30.4 million).
\n
\n\n\n
\n
\n
Contingencies
\n
Contingent consideration in respect of our business acquisitions is discussed in Note 17
\n
Business Acquisitions and Disposals.
\n
Legal Proceedings
\n
From time to time, we are involved in litigation, disputes and other legal proceedings arising
\n
in the normal course of our business. We insure against the risks arising from these legal
\n
proceedings to the extent deemed prudent by our management and to the extent insurance
\n
is available, but no assurance can be given that the nature and amount of that insurance
\n
will be sufficient to fully indemnify us against liabilities arising out of pending and future
\n
legal proceedings. Many of these insurance policies contain deductibles or self-insured
\n
retentions in amounts we deem prudent and for which we are responsible for payment. If
\n
there is a claim, dispute or pending litigation in which we believe a negative outcome is
\n
probable and a loss by the Company can be reasonably estimated, we record a liability for
\n
the expected loss. As of 31 December 2025, we are not aware of any such expected loss
\n
which would be material to our financial position and results of operations. Nor are we
\n
involved in any governmental, legal or arbitration proceedings (including any such
\n
proceedings which are pending or threatened) which may have, or have had in the recent
\n
past, significant effects on our financial position or profitability.
\n
\n
\n\n\n
\n
\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag251": {
"value": "\n
\n
\nNote 28 Provisions and Contingent Liabilities
\n\n
Purchase commitments
\n
As of 31 December 2025, we have committed to purchase obligations including capital
\n
expenditures amounting to $44.3 million, (2024: $30.4 million).
\n
\n\n\n
\n
Contingencies
\n
Contingent consideration in respect of our business acquisitions is discussed in Note 17
\n
Business Acquisitions and Disposals.
\n
Legal Proceedings
\n
From time to time, we are involved in litigation, disputes and other legal proceedings arising
\n
in the normal course of our business. We insure against the risks arising from these legal
\n
proceedings to the extent deemed prudent by our management and to the extent insurance
\n
is available, but no assurance can be given that the nature and amount of that insurance
\n
will be sufficient to fully indemnify us against liabilities arising out of pending and future
\n
legal proceedings. Many of these insurance policies contain deductibles or self-insured
\n
retentions in amounts we deem prudent and for which we are responsible for payment. If
\n
there is a claim, dispute or pending litigation in which we believe a negative outcome is
\n
probable and a loss by the Company can be reasonably estimated, we record a liability for
\n
the expected loss. As of 31 December 2025, we are not aware of any such expected loss
\n
which would be material to our financial position and results of operations. Nor are we
\n
involved in any governmental, legal or arbitration proceedings (including any such
\n
proceedings which are pending or threatened) which may have, or have had in the recent
\n
past, significant effects on our financial position or profitability.
\n
\n
\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag252": {
"value": "\nPurchase commitments
\nAs of 31 December 2025, we have committed to purchase obligations including capital
\nexpenditures amounting to $44.3 million, (2024: $30.4 million).
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag253": {
"value": "\nContingencies
\nContingent consideration in respect of our business acquisitions is discussed in Note 17
\nBusiness Acquisitions and Disposals.
\nLegal Proceedings
\nFrom time to time, we are involved in litigation, disputes and other legal proceedings arising
\nin the normal course of our business. We insure against the risks arising from these legal
\nproceedings to the extent deemed prudent by our management and to the extent insurance
\nis available, but no assurance can be given that the nature and amount of that insurance
\nwill be sufficient to fully indemnify us against liabilities arising out of pending and future
\nlegal proceedings. Many of these insurance policies contain deductibles or self-insured
\nretentions in amounts we deem prudent and for which we are responsible for payment. If
\nthere is a claim, dispute or pending litigation in which we believe a negative outcome is
\nprobable and a loss by the Company can be reasonably estimated, we record a liability for
\nthe expected loss. As of 31 December 2025, we are not aware of any such expected loss
\nwhich would be material to our financial position and results of operations. Nor are we
\ninvolved in any governmental, legal or arbitration proceedings (including any such
\nproceedings which are pending or threatened) which may have, or have had in the recent
\npast, significant effects on our financial position or profitability.
\n
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag254": {
"value": "\nCapital management
\nThe Group\u2019s objectives when managing capital are to safeguard its ability to continue as a
\ngoing concern, to provide returns to shareholders and to maintain an optimal capital
\nstructure that reduces the cost of capital.
\nThe Group monitors capital on the basis of leverage ratios, liquidity headroom and
\ncompliance with financial covenants in its borrowing agreements. The Group\u2019s capital
\nstructure consists of interest-bearing debt, lease liabilities recognised under IFRS 16, cash
\nand cash equivalents, and equity attributable to shareholders.
\nThe Group may adjust its capital structure by issuing new shares, returning capital to
\nshareholders, refinancing debt or adjusting investment levels depending on market
\nconditions and strategic priorities.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag508": {
"value": "\nNote 30 Liquidity risk
\nLiquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. This risk may arise from operational volatility, contract delays or cancellations,
\ncost overruns, or restricted access to capital markets.
\nThe Group manages liquidity risk by:
\n\u2022 Maintaining sufficient cash and cash equivalents
\n\u2022 Securing committed credit facilities
\n\u2022 Monitoring rolling cash flow forecasts
\n\u2022 Maintaining appropriate headroom under financial covenants
\nCash flow forecasting takes into account the Group\u2019s contract backlog, expected project execution, capital expenditure requirements and debt service obligations.
\nThe table below analyses the Group\u2019s financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The
\namounts disclosed are contractual undiscounted cash flows.
\nInterest-bearing debt maturity analysis
\nThe table below presents the Group\u2019s contractual cash outflows relating to interest-bearing debt at the reporting date. The amounts do not include interest payments and are allocated
\nto maturity buckets based on the earliest date on which the Group can be required to settle the liability.
\nMaturity of Interest bearing debt as at 31 December 2025
\n\n
\n\n\n| (In USD millions) | \nBonds | \nOverdraft facilities | \nOther debt | \nTotal | \n\n\n\n
\n\n\n\n\n\n\n| Year ending 31 December | \n | \n | \n | \n | \n\n\n\n
\n\n| 2026 | \n15.0 | \n16.5 | \n8.2 | \n39.7 | \n\n\n\n
\n\n| 2027 | \n15.0 | \n\u2014 | \n8.0 | \n23.0 | \n\n\n\n
\n\n| 2028 | \n15.0 | \n\u2014 | \n5.9 | \n20.9 | \n\n\n\n
\n\n| 2029 and thereafter | \n380.0 | \n\u2014 | \n11.8 | \n391.8 | \n\n\n\n
\n\n| Total debt | \n425.0 | \n16.5 | \n33.9 | \n475.4 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
Please see Note 23 Interest-bearing debt for further details.
\n
\nInterest-bearing debt maturity analysis of non-discounted cash flows
\nThe amounts disclosed in the table below are the contractual non-discounted cash flows. The table includes estimated interest payments for drawn facilities at the balance sheet date,
\nbased on the remaining period at the end of the reporting period to the contractual maturity date
\n
\n\n\n\nMaturity of financial liabilities - 31 December 2025
\n\n
\n\n\n| USD million | \nLess than twelvemonths | \nBetween 1 and 2years | \nBetween 2 and 5years | \nOver 5 years | \n Total contractualcash flows | \nCarrying amount | \n\n\n\n
\n\n\n\n\n\n\n| Interest-bearing debt | \n 83.6 | \n63.7 | \n504.6 | \n- | \n651.9 | \n467.9 | \n\n\n\n
\n\n| Lease liabilities | \n11.3 | \n10.9 | \n23.2 | \n25.9 | \n71.3 | \n59.4 | \n\n\n\n
\n\n| Trade payables | \n92.8 | \n- | \n- | \n- | \n92.8 | \n92.8 | \n\n\n\n
\n\n| Other current liabilities | \n192.3 | \n- | \n- | \n- | \n192.3 | \n192.3 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
Maturity of financial liabilities - 31 December 2024
\n\n
\n\n\n| USD million | \nLess than twelvemonths | \nBetween 1 and 2years | \nBetween 2 and 5years | \nOver 5 years | \n Total contractualcash flows | \nCarrying amount | \n\n\n\n
\n\n\n\n\n\n\n| Interest-bearing debt | \n 65.9 | \n67.3 | \n451.3 | \n- | \n584.5 | \n441.3 | \n\n\n\n
\n\n| Lease liabilities | \n10.5 | \n4.9 | \n6.4 | \n8.2 | \n30.0 | \n26.4 | \n\n\n\n
\n\n| Trade payables | \n112.2 | \n- | \n- | \n- | \n112.2 | \n112.2 | \n\n\n\n
\n\n| Other current liabilities | \n181.8 | \n- | \n- | \n- | \n181.8 | \n181.8 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
Financial instruments and risk management
\nThe Group uses financial instruments primarily to manage liquidity and funding requirements from time to time. Derivative financial instruments may be used selectively to hedge
\nexposures to foreign exchange and interest rate risks. The Group does not enter into derivative transactions for speculative purposes.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag255": {
"value": "\n
\n
\nNote 31 Credit risk
\nOverview
\nCredit risk arises from cash and cash equivalents, deposits with banks and financial
\ninstitutions, as well as credit exposures to customers, including outstanding receivables
\nand contract assets.
\nThe Group\u2019s exposure to credit risk is influenced by the characteristics of the offshore
\nenergy market, where customers are typically large international oil companies, national oil
\ncompanies and other energy operators.
\nCredit risk management
\nThe Group manages credit risk through:
\n\u2022 Evaluation of customer creditworthiness prior to contract award
\n\u2022 Ongoing monitoring of outstanding receivables
\n\u2022 Use of payment terms aligned with industry standards
\n\u2022 Diversification of customer base where possible
\nDue to the nature of the industry, collateral or guarantees are not commonly obtained.
\nHowever, the Group seeks to mitigate risk through contractual protections and close
\ncustomer relationships.
\nWhile the Group\u2019s counterparties are generally considered to have strong credit quality, the
\nGroup remains exposed to:
\n\u2022 Delayed payments
\n\u2022 Counterparty financial deterioration
\n\u2022 Concentration risk towards key customers
\n\n
Expected credit losses (ECL)
\n
The Group applies the IFRS 9 simplified approach to measuring expected credit losses,
\n
which uses a lifetime expected loss allowance for trade receivables and contract assets.
\n
The expected credit loss is based on historical default experience, adjusted for forward-
\n
looking factors including macroeconomic conditions and developments in the energy
\n
markets.
\n
\n\n\n
\n
Trade receivables ageing and impairment
\n
The table below provides an ageing analysis of trade receivables at the reporting date,
\n
including the associated expected credit loss (ECL) allowance. The ageing is based on the
\n
number of days past due, and the ECL reflects management\u2019s estimate of lifetime expected
\n
credit losses in accordance with IFRS 9.
\n
The ageing of the trade receivables 31 Dec. 2025
\n
\n
\n\n\n | \nGross amount | \nECLallowance | \nNet | \n\n\n\n
\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n
\n\n| Not due | \n158.0 | \n\u2014 | \n158.0 | \n\n\n\n
\n\n| Past due 0-30 days | \n19.5 | \n\u2014 | \n19.5 | \n\n\n\n
\n\n| Past due 31-60 days | \n3.0 | \n\u2014 | \n3.0 | \n\n\n\n
\n\n| Past due 61+ days | \n10.7 | \n(3.5) | \n7.2 | \n\n\n\n
\n\n| Total | \n191.3 | \n(3.5) | \n187.8 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
The ageing of the trade receivables 31 Dec. 2024
\n
\n
\n\n\n | \nGross amount | \nECL | \nNet | \n\n\n\n
\n\n | \n | \nallowance | \n | \n\n\n\n
\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n
\n\n| Not due | \n158.1 | \n\u2014 | \n159.4 | \n\n\n\n
\n\n| Past due 0-30 days | \n19.0 | \n\u2014 | \n19.0 | \n\n\n\n
\n\n| Past due 31-60 days | \n3.9 | \n\u2014 | \n3.9 | \n\n\n\n
\n\n| Past due 61+ days | \n9.0 | \n(3.1) | \n6.4 | \n\n\n\n
\n\n| Total | \n189.9 | \n(3.1) | \n187.3 | \n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n
\n
\n\n\n
Credit risk
\nArcher\u2019s customer base primarily consists of large, blue-chip oil and gas operators, resulting
\nin a concentration of revenues and receivables among a limited number of key customers.
\nHistorically, the Group has experienced very limited credit losses.
\nThe Group maintains credit management practices, including assessing customer
\ncreditworthiness prior to contract award and regularly monitoring outstanding receivables.
\nNotwithstanding these measures, a significant deterioration in the financial position of one
\nor more key customers could adversely affect the Group\u2019s financial results and position.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag452": {
"value": "\nExpected credit losses (ECL)
\nThe Group applies the IFRS 9 simplified approach to measuring expected credit losses,
\nwhich uses a lifetime expected loss allowance for trade receivables and contract assets.
\nThe expected credit loss is based on historical default experience, adjusted for forward-
\nlooking factors including macroeconomic conditions and developments in the energy
\nmarkets.
\n
\n\n\n\nTrade receivables ageing and impairment
\nThe table below provides an ageing analysis of trade receivables at the reporting date,
\nincluding the associated expected credit loss (ECL) allowance. The ageing is based on the
\nnumber of days past due, and the ECL reflects management\u2019s estimate of lifetime expected
\ncredit losses in accordance with IFRS 9.
\nThe ageing of the trade receivables 31 Dec. 2025
\n\n
\n\n\n | \nGross amount | \nECLallowance | \nNet | \n\n\n\n
\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n
\n\n| Not due | \n158.0 | \n\u2014 | \n158.0 | \n\n\n\n
\n\n| Past due 0-30 days | \n19.5 | \n\u2014 | \n19.5 | \n\n\n\n
\n\n| Past due 31-60 days | \n3.0 | \n\u2014 | \n3.0 | \n\n\n\n
\n\n| Past due 61+ days | \n10.7 | \n(3.5) | \n7.2 | \n\n\n\n
\n\n| Total | \n191.3 | \n(3.5) | \n187.8 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
The ageing of the trade receivables 31 Dec. 2024
\n\n
\n\n\n | \nGross amount | \nECL | \nNet | \n\n\n\n
\n\n | \n | \nallowance | \n | \n\n\n\n
\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n
\n\n| Not due | \n158.1 | \n\u2014 | \n159.4 | \n\n\n\n
\n\n| Past due 0-30 days | \n19.0 | \n\u2014 | \n19.0 | \n\n\n\n
\n\n| Past due 31-60 days | \n3.9 | \n\u2014 | \n3.9 | \n\n\n\n
\n\n| Past due 61+ days | \n9.0 | \n(3.1) | \n6.4 | \n\n\n\n
\n\n| Total | \n189.9 | \n(3.1) | \n187.3 | \n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag479": {
"value": "\n
\n\n
\n
\n
\n
\n\n\n| (In USD millions) | \nUSD is strengthened by 20 %against NOK | \nUSD is weakened by 20 %against NOK | \nUSD is strengthened by 10 %against NOK | \nUSD is weakened by 10 %against NOK | \n\n\n\n\n
\n\n | \n2025 | \n2024 | \n2025 | \n2024 | \n2025 | \n2024 | \n2025 | \n2024 | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Goodwill | \n(26.7) | \n(23.2) | \n26.7 | \n23.2 | \n(13.3) | \n11.6 | \n13.3 | \n11.6 | \n\n\n\n\n
\n\n| Net USD borrowing inNorway | \n(10.9) | \n(35.0) | \n10.9 | \n35.0 | \n(5.5) | \n(17.5) | \n5.5 | \n17.5 | \n\n\n\n\n
\n\n| Net equity effect throughtranslation adjustments | \n(26.7) | \n(23.2) | \n26.7 | \n23.2 | \n(13.3) | \n11.6 | \n13.3 | \n11.6 | \n\n\n\n\n
\n\n| Net effect on IncomeStatement | \n(10.9) | \n(35.0) | \n10.9 | \n35.0 | \n(5.5) | \n(17.5) | \n5.5 | \n17.5 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
\n\n\n\n
\n
Interest rate risk
\n
Interest rate risk is the risk that changes in market interest rates will affect the Group\u2019s
\n
financial results and cash flows. The Group\u2019s exposure arises primarily from variable rate
\n
borrowings and lease liabilities under IFRS 16.
\n
The Group manages interest rate risk through a combination of:
\n
\u2022 Fixed and floating rate debt
\n
\u2022 Potential use of interest rate derivatives
\n
Interest rate profile
\n
The table below presents the Group\u2019s interest-bearing debt and lease liabilities by type of
\n
interest rate, distinguishing between fixed and floating rate exposures at the reporting date.
\n
\n
\n\n\n| (In USD millions) | \nFixed rate | \nFloating rate | \nTotal | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Interest-bearing debt | \n425.0 | \n50.4 | \n475.4 | \n\n\n\n\n
\n\n| Lease liabilities | \n59.4 | \n- | \n59.4 | \n\n\n\n\n
\n\n| Total | \n484.4 | \n50.4 | \n534.8 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
Sensitivity analysis \u2013 interest rates
\n
The table below shows the estimated impact on profit before tax and equity from a 100
\n
basis points increase or decrease in interest rates at the reporting date. The analysis is
\n
based on the Group\u2019s exposure to floating rate debt, assumes all other variables remain
\n
constant, and reflects the effect on borrowing costs over a 12-month period.
\n
\n
\n\n\n| Change in interest rate | \nNet effect on IncomeStatement | \n\n\n\n\n
\n\n\n\n\n\n\n\n| +100 basis points | \n(0.5) | \n\n\n\n\n
\n\n| -100 basis points | \n0.5 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
The impact on equity corresponds to the effect on profit before tax, as there are no items
\n
recognised directly in equity.
\n
Commodity and industry exposure
\n
Although the Group is not directly exposed to commodity price risk through financial
\n
instruments, its financial performance is significantly influenced by oil and gas prices and
\n
the resulting level of activity in the offshore energy sector.
\n
A sustained decline in commodity prices may lead to reduced exploration and production
\n
activity, lower demand for the Group\u2019s services, reduced utilisation and downward pressure
\n
on pricing. Conversely, higher commodity prices typically support increased activity and
\n
improved financial performance.
\n
\n\n\n\n
\n\n\n\n\n
\n\n
Climate and energy transition risk
\n
The Group is exposed to risks associated with the global energy transition, including
\n
changes in regulation, customer investment patterns and access to capital. These factors
\n
may impact long-term demand for the Group\u2019s services and are considered in the Group\u2019s
\n
overall risk management framework.
\n
\n\n\n\n
\n\n\n\n\n
\nNote 29 Financial risk management
\nOverview and governance
\nThe Group is exposed to a variety of financial risks such as credit risk, liquidity risk and
\nmarket risk. The Group\u2019s overall risk management programme focuses on the
\nunpredictability of financial markets and the cyclical nature of the offshore energy services
\nindustry, and seeks to minimise potential adverse effects on the Group\u2019s financial
\nperformance.
\nThe Group operates in the offshore energy services industry and is exposed to cyclical
\ndemand driven by oil and gas exploration, development and production activity. Variations
\nin oil and gas prices, operator spending, contract awards and utilisation levels may
\nsignificantly impact revenues, margins and cash flows. These factors are described in
\nfurther detail in the Risk factors section of the annual report and are integral to the Group\u2019s
\nfinancial risk profile.
\n\n
Capital management
\n
The Group\u2019s objectives when managing capital are to safeguard its ability to continue as a
\n
going concern, to provide returns to shareholders and to maintain an optimal capital
\n
structure that reduces the cost of capital.
\n
The Group monitors capital on the basis of leverage ratios, liquidity headroom and
\n
compliance with financial covenants in its borrowing agreements. The Group\u2019s capital
\n
structure consists of interest-bearing debt, lease liabilities recognised under IFRS 16, cash
\n
and cash equivalents, and equity attributable to shareholders.
\n
The Group may adjust its capital structure by issuing new shares, returning capital to
\n
shareholders, refinancing debt or adjusting investment levels depending on market
\n
conditions and strategic priorities.
\n
\n\n\n
\n\n\n\n
\n\n
Note 30 Liquidity risk
\n
Liquidity risk is the risk that the Group will not be able to meet its financial obligations as they fall due. This risk may arise from operational volatility, contract delays or cancellations,
\n
cost overruns, or restricted access to capital markets.
\n
The Group manages liquidity risk by:
\n
\u2022 Maintaining sufficient cash and cash equivalents
\n
\u2022 Securing committed credit facilities
\n
\u2022 Monitoring rolling cash flow forecasts
\n
\u2022 Maintaining appropriate headroom under financial covenants
\n
Cash flow forecasting takes into account the Group\u2019s contract backlog, expected project execution, capital expenditure requirements and debt service obligations.
\n
The table below analyses the Group\u2019s financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The
\n
amounts disclosed are contractual undiscounted cash flows.
\n
Interest-bearing debt maturity analysis
\n
The table below presents the Group\u2019s contractual cash outflows relating to interest-bearing debt at the reporting date. The amounts do not include interest payments and are allocated
\n
to maturity buckets based on the earliest date on which the Group can be required to settle the liability.
\n
Maturity of Interest bearing debt as at 31 December 2025
\n
\n
\n\n\n| (In USD millions) | \nBonds | \nOverdraft facilities | \nOther debt | \nTotal | \n\n\n\n
\n\n\n\n\n\n\n| Year ending 31 December | \n | \n | \n | \n | \n\n\n\n
\n\n| 2026 | \n15.0 | \n16.5 | \n8.2 | \n39.7 | \n\n\n\n
\n\n| 2027 | \n15.0 | \n\u2014 | \n8.0 | \n23.0 | \n\n\n\n
\n\n| 2028 | \n15.0 | \n\u2014 | \n5.9 | \n20.9 | \n\n\n\n
\n\n| 2029 and thereafter | \n380.0 | \n\u2014 | \n11.8 | \n391.8 | \n\n\n\n
\n\n| Total debt | \n425.0 | \n16.5 | \n33.9 | \n475.4 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
Please see Note 23 Interest-bearing debt for further details.
\n
\n
Interest-bearing debt maturity analysis of non-discounted cash flows
\n
The amounts disclosed in the table below are the contractual non-discounted cash flows. The table includes estimated interest payments for drawn facilities at the balance sheet date,
\n
based on the remaining period at the end of the reporting period to the contractual maturity date
\n
\n\n\n
\n\n\n\n
\n\n
Maturity of financial liabilities - 31 December 2025
\n
\n
\n\n\n| USD million | \nLess than twelvemonths | \nBetween 1 and 2years | \nBetween 2 and 5years | \nOver 5 years | \n Total contractualcash flows | \nCarrying amount | \n\n\n\n
\n\n\n\n\n\n\n| Interest-bearing debt | \n 83.6 | \n63.7 | \n504.6 | \n- | \n651.9 | \n467.9 | \n\n\n\n
\n\n| Lease liabilities | \n11.3 | \n10.9 | \n23.2 | \n25.9 | \n71.3 | \n59.4 | \n\n\n\n
\n\n| Trade payables | \n92.8 | \n- | \n- | \n- | \n92.8 | \n92.8 | \n\n\n\n
\n\n| Other current liabilities | \n192.3 | \n- | \n- | \n- | \n192.3 | \n192.3 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
Maturity of financial liabilities - 31 December 2024
\n
\n
\n\n\n| USD million | \nLess than twelvemonths | \nBetween 1 and 2years | \nBetween 2 and 5years | \nOver 5 years | \n Total contractualcash flows | \nCarrying amount | \n\n\n\n
\n\n\n\n\n\n\n| Interest-bearing debt | \n 65.9 | \n67.3 | \n451.3 | \n- | \n584.5 | \n441.3 | \n\n\n\n
\n\n| Lease liabilities | \n10.5 | \n4.9 | \n6.4 | \n8.2 | \n30.0 | \n26.4 | \n\n\n\n
\n\n| Trade payables | \n112.2 | \n- | \n- | \n- | \n112.2 | \n112.2 | \n\n\n\n
\n\n| Other current liabilities | \n181.8 | \n- | \n- | \n- | \n181.8 | \n181.8 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
Financial instruments and risk management
\n
The Group uses financial instruments primarily to manage liquidity and funding requirements from time to time. Derivative financial instruments may be used selectively to hedge
\n
exposures to foreign exchange and interest rate risks. The Group does not enter into derivative transactions for speculative purposes.
\n
\n\n\n
\n\n\n\n
\n\n
\n
\n
Note 31 Credit risk
\n
Overview
\n
Credit risk arises from cash and cash equivalents, deposits with banks and financial
\n
institutions, as well as credit exposures to customers, including outstanding receivables
\n
and contract assets.
\n
The Group\u2019s exposure to credit risk is influenced by the characteristics of the offshore
\n
energy market, where customers are typically large international oil companies, national oil
\n
companies and other energy operators.
\n
Credit risk management
\n
The Group manages credit risk through:
\n
\u2022 Evaluation of customer creditworthiness prior to contract award
\n
\u2022 Ongoing monitoring of outstanding receivables
\n
\u2022 Use of payment terms aligned with industry standards
\n
\u2022 Diversification of customer base where possible
\n
Due to the nature of the industry, collateral or guarantees are not commonly obtained.
\n
However, the Group seeks to mitigate risk through contractual protections and close
\n
customer relationships.
\n
While the Group\u2019s counterparties are generally considered to have strong credit quality, the
\n
Group remains exposed to:
\n
\u2022 Delayed payments
\n
\u2022 Counterparty financial deterioration
\n
\u2022 Concentration risk towards key customers
\n
\n
Expected credit losses (ECL)
\n
The Group applies the IFRS 9 simplified approach to measuring expected credit losses,
\n
which uses a lifetime expected loss allowance for trade receivables and contract assets.
\n
The expected credit loss is based on historical default experience, adjusted for forward-
\n
looking factors including macroeconomic conditions and developments in the energy
\n
markets.
\n
\n\n\n
\n
\n
Trade receivables ageing and impairment
\n
The table below provides an ageing analysis of trade receivables at the reporting date,
\n
including the associated expected credit loss (ECL) allowance. The ageing is based on the
\n
number of days past due, and the ECL reflects management\u2019s estimate of lifetime expected
\n
credit losses in accordance with IFRS 9.
\n
The ageing of the trade receivables 31 Dec. 2025
\n
\n
\n\n\n | \nGross amount | \nECLallowance | \nNet | \n\n\n\n
\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n
\n\n| Not due | \n158.0 | \n\u2014 | \n158.0 | \n\n\n\n
\n\n| Past due 0-30 days | \n19.5 | \n\u2014 | \n19.5 | \n\n\n\n
\n\n| Past due 31-60 days | \n3.0 | \n\u2014 | \n3.0 | \n\n\n\n
\n\n| Past due 61+ days | \n10.7 | \n(3.5) | \n7.2 | \n\n\n\n
\n\n| Total | \n191.3 | \n(3.5) | \n187.8 | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
The ageing of the trade receivables 31 Dec. 2024
\n
\n
\n\n\n | \nGross amount | \nECL | \nNet | \n\n\n\n
\n\n | \n | \nallowance | \n | \n\n\n\n
\n\n| (In USD millions) | \n | \n | \n | \n\n\n\n
\n\n| Not due | \n158.1 | \n\u2014 | \n159.4 | \n\n\n\n
\n\n| Past due 0-30 days | \n19.0 | \n\u2014 | \n19.0 | \n\n\n\n
\n\n| Past due 31-60 days | \n3.9 | \n\u2014 | \n3.9 | \n\n\n\n
\n\n| Past due 61+ days | \n9.0 | \n(3.1) | \n6.4 | \n\n\n\n
\n\n| Total | \n189.9 | \n(3.1) | \n187.3 | \n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n
\n
\n\n\n
\n
Credit risk
\n
Archer\u2019s customer base primarily consists of large, blue-chip oil and gas operators, resulting
\n
in a concentration of revenues and receivables among a limited number of key customers.
\n
Historically, the Group has experienced very limited credit losses.
\n
The Group maintains credit management practices, including assessing customer
\n
creditworthiness prior to contract award and regularly monitoring outstanding receivables.
\n
Notwithstanding these measures, a significant deterioration in the financial position of one
\n
or more key customers could adversely affect the Group\u2019s financial results and position.
\n
\n\n\n
\n\n\n\n
\n\n
\n
\n
Note 32 Market risk
\n
Overview
\n
Market risk is the risk that changes in market prices, such as foreign exchange rates, interest
\n
rates and macroeconomic conditions, will affect the Group\u2019s income or the value of its
\n
financial instruments.
\n
The Group\u2019s market risk is closely linked to developments in the global energy market,
\n
including oil and gas prices, operator spending levels and the broader energy transition.
\n
These factors influence activity levels, pricing and investment decisions, and are described
\n
further in the Risk factors section of the annual report.
\n
\n
Foreign exchange risk
\n
The Group operates internationally and is exposed to foreign exchange risk arising from
\n
various currency exposures, primarily with respect to USD, NOK, GBP and ARS.
\n
Foreign exchange risk arises when future commercial transactions or recognised assets
\n
and liabilities are denominated in a currency that is not the entity\u2019s functional currency.
\n
The Group seeks to reduce foreign exchange risk by:
\n
\u2022 Matching revenues and costs in the same currency where possible
\n
\u2022 Holding cash balances in relevant currencies
\n
\u2022 Using foreign exchange contracts where appropriate
\n
\n\n\n
\n
\n
The Group\u2019s material exposure to foreign currency risk at the end of the reporting period,
\n
expressed in NOK, was as follows:
\n
Foreign exchange risk - Exposure - 31 December 2025
\n
\n
\n\n\n| (In USD millions) | \nUSD | \nNOK | \nGBP | \nEffect on | \n\n\n\n
\n\n\n\n\n\n\n| Goodwill | \n31.8 | \n133.3 | \n25.8 | \nEquity | \n\n\n\n
\n\n| Net USDborrowing inNorway | \n\u2014 | \n54.7 | \n\u2014 | \nIncomestatement | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
Foreign exchange risk - Exposure - 31 December 2024
\n
\n
\n\n\n| (In USD millions) | \nUSD | \nNOK | \nGBP | \nEffect on | \n\n\n\n
\n\n\n\n\n\n\n | \n | \n | \n | \n | \n\n\n\n
\n\n| Goodwill | \n28.6 | \n116.0 | \n24.0 | \nEquity | \n\n\n\n
\n\n| Net USDborrowing in | \n\u2014 | \n175.2 | \n\u2014 | \nIncomestatement | \n\n\n\n
\n\n| Norway | \n | \n | \n | \n | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
Sensitivity to changes in USD/NOK exchange rates
\n
The Group\u2019s profit or loss and translation adjustments recognised in equity are primarily
\n
exposed to movements in the USD/NOK exchange rate.
\n
Goodwill: The sensitivity presented in the table below is based on goodwill balances in
\n
entities with NOK as their functional currency.
\n
Net USD borrowing in Norway: The sensitivity presented in the table below is based on net
\n
USD loan balances in entities with NOK as their functional currency. Changes in the USD/
\n
NOK exchange rate affect the income statement when USD-denominated loans are
\n
remeasured into local currency (NOK).
\n
\n\n\n
\n
\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag510": {
"value": "\n
\n\n
\n
\n\n\n| (In USD millions) | \nUSD is strengthened by 20 %against NOK | \nUSD is weakened by 20 %against NOK | \nUSD is strengthened by 10 %against NOK | \nUSD is weakened by 10 %against NOK | \n\n\n\n\n
\n\n | \n2025 | \n2024 | \n2025 | \n2024 | \n2025 | \n2024 | \n2025 | \n2024 | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Goodwill | \n(26.7) | \n(23.2) | \n26.7 | \n23.2 | \n(13.3) | \n11.6 | \n13.3 | \n11.6 | \n\n\n\n\n
\n\n| Net USD borrowing inNorway | \n(10.9) | \n(35.0) | \n10.9 | \n35.0 | \n(5.5) | \n(17.5) | \n5.5 | \n17.5 | \n\n\n\n\n
\n\n| Net equity effect throughtranslation adjustments | \n(26.7) | \n(23.2) | \n26.7 | \n23.2 | \n(13.3) | \n11.6 | \n13.3 | \n11.6 | \n\n\n\n\n
\n\n| Net effect on IncomeStatement | \n(10.9) | \n(35.0) | \n10.9 | \n35.0 | \n(5.5) | \n(17.5) | \n5.5 | \n17.5 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
\n\n\n\n
Interest rate risk
\nInterest rate risk is the risk that changes in market interest rates will affect the Group\u2019s
\nfinancial results and cash flows. The Group\u2019s exposure arises primarily from variable rate
\nborrowings and lease liabilities under IFRS 16.
\nThe Group manages interest rate risk through a combination of:
\n\u2022 Fixed and floating rate debt
\n\u2022 Potential use of interest rate derivatives
\nInterest rate profile
\nThe table below presents the Group\u2019s interest-bearing debt and lease liabilities by type of
\ninterest rate, distinguishing between fixed and floating rate exposures at the reporting date.
\n\n
\n\n\n| (In USD millions) | \nFixed rate | \nFloating rate | \nTotal | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Interest-bearing debt | \n425.0 | \n50.4 | \n475.4 | \n\n\n\n\n
\n\n| Lease liabilities | \n59.4 | \n- | \n59.4 | \n\n\n\n\n
\n\n| Total | \n484.4 | \n50.4 | \n534.8 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
Sensitivity analysis \u2013 interest rates
\nThe table below shows the estimated impact on profit before tax and equity from a 100
\nbasis points increase or decrease in interest rates at the reporting date. The analysis is
\nbased on the Group\u2019s exposure to floating rate debt, assumes all other variables remain
\nconstant, and reflects the effect on borrowing costs over a 12-month period.
\n\n
\n\n\n| Change in interest rate | \nNet effect on IncomeStatement | \n\n\n\n\n
\n\n\n\n\n\n\n\n| +100 basis points | \n(0.5) | \n\n\n\n\n
\n\n| -100 basis points | \n0.5 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
The impact on equity corresponds to the effect on profit before tax, as there are no items
\nrecognised directly in equity.
\nCommodity and industry exposure
\nAlthough the Group is not directly exposed to commodity price risk through financial
\ninstruments, its financial performance is significantly influenced by oil and gas prices and
\nthe resulting level of activity in the offshore energy sector.
\nA sustained decline in commodity prices may lead to reduced exploration and production
\nactivity, lower demand for the Group\u2019s services, reduced utilisation and downward pressure
\non pricing. Conversely, higher commodity prices typically support increased activity and
\nimproved financial performance.
\n
\n\n\n\n\nClimate and energy transition risk
\nThe Group is exposed to risks associated with the global energy transition, including
\nchanges in regulation, customer investment patterns and access to capital. These factors
\nmay impact long-term demand for the Group\u2019s services and are considered in the Group\u2019s
\noverall risk management framework.
\n
\n\n\n\n\n
\n
\nNote 32 Market risk
\nOverview
\nMarket risk is the risk that changes in market prices, such as foreign exchange rates, interest
\nrates and macroeconomic conditions, will affect the Group\u2019s income or the value of its
\nfinancial instruments.
\nThe Group\u2019s market risk is closely linked to developments in the global energy market,
\nincluding oil and gas prices, operator spending levels and the broader energy transition.
\nThese factors influence activity levels, pricing and investment decisions, and are described
\nfurther in the Risk factors section of the annual report.
\n\n
Foreign exchange risk
\n
The Group operates internationally and is exposed to foreign exchange risk arising from
\n
various currency exposures, primarily with respect to USD, NOK, GBP and ARS.
\n
Foreign exchange risk arises when future commercial transactions or recognised assets
\n
and liabilities are denominated in a currency that is not the entity\u2019s functional currency.
\n
The Group seeks to reduce foreign exchange risk by:
\n
\u2022 Matching revenues and costs in the same currency where possible
\n
\u2022 Holding cash balances in relevant currencies
\n
\u2022 Using foreign exchange contracts where appropriate
\n
\n\n\n
\n
The Group\u2019s material exposure to foreign currency risk at the end of the reporting period,
\n
expressed in NOK, was as follows:
\n
Foreign exchange risk - Exposure - 31 December 2025
\n
\n
\n\n\n| (In USD millions) | \nUSD | \nNOK | \nGBP | \nEffect on | \n\n\n\n
\n\n\n\n\n\n\n| Goodwill | \n31.8 | \n133.3 | \n25.8 | \nEquity | \n\n\n\n
\n\n| Net USDborrowing inNorway | \n\u2014 | \n54.7 | \n\u2014 | \nIncomestatement | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
Foreign exchange risk - Exposure - 31 December 2024
\n
\n
\n\n\n| (In USD millions) | \nUSD | \nNOK | \nGBP | \nEffect on | \n\n\n\n
\n\n\n\n\n\n\n | \n | \n | \n | \n | \n\n\n\n
\n\n| Goodwill | \n28.6 | \n116.0 | \n24.0 | \nEquity | \n\n\n\n
\n\n| Net USDborrowing in | \n\u2014 | \n175.2 | \n\u2014 | \nIncomestatement | \n\n\n\n
\n\n| Norway | \n | \n | \n | \n | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
\n
Sensitivity to changes in USD/NOK exchange rates
\n
The Group\u2019s profit or loss and translation adjustments recognised in equity are primarily
\n
exposed to movements in the USD/NOK exchange rate.
\n
Goodwill: The sensitivity presented in the table below is based on goodwill balances in
\n
entities with NOK as their functional currency.
\n
Net USD borrowing in Norway: The sensitivity presented in the table below is based on net
\n
USD loan balances in entities with NOK as their functional currency. Changes in the USD/
\n
NOK exchange rate affect the income statement when USD-denominated loans are
\n
remeasured into local currency (NOK).
\n
\n\n\n
\n\n\n",
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"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"Tag468": {
"value": "\n\n
\n\n\n| (In USD millions) | \nUSD is strengthened by 20 %against NOK | \nUSD is weakened by 20 %against NOK | \nUSD is strengthened by 10 %against NOK | \nUSD is weakened by 10 %against NOK | \n\n\n\n\n
\n\n | \n2025 | \n2024 | \n2025 | \n2024 | \n2025 | \n2024 | \n2025 | \n2024 | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Goodwill | \n(26.7) | \n(23.2) | \n26.7 | \n23.2 | \n(13.3) | \n11.6 | \n13.3 | \n11.6 | \n\n\n\n\n
\n\n| Net USD borrowing inNorway | \n(10.9) | \n(35.0) | \n10.9 | \n35.0 | \n(5.5) | \n(17.5) | \n5.5 | \n17.5 | \n\n\n\n\n
\n\n| Net equity effect throughtranslation adjustments | \n(26.7) | \n(23.2) | \n26.7 | \n23.2 | \n(13.3) | \n11.6 | \n13.3 | \n11.6 | \n\n\n\n\n
\n\n| Net effect on IncomeStatement | \n(10.9) | \n(35.0) | \n10.9 | \n35.0 | \n(5.5) | \n(17.5) | \n5.5 | \n17.5 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\nForeign exchange risk
\nThe Group operates internationally and is exposed to foreign exchange risk arising from
\nvarious currency exposures, primarily with respect to USD, NOK, GBP and ARS.
\nForeign exchange risk arises when future commercial transactions or recognised assets
\nand liabilities are denominated in a currency that is not the entity\u2019s functional currency.
\nThe Group seeks to reduce foreign exchange risk by:
\n\u2022 Matching revenues and costs in the same currency where possible
\n\u2022 Holding cash balances in relevant currencies
\n\u2022 Using foreign exchange contracts where appropriate
\n
\n\n\n\nThe Group\u2019s material exposure to foreign currency risk at the end of the reporting period,
\nexpressed in NOK, was as follows:
\nForeign exchange risk - Exposure - 31 December 2025
\n\n
\n\n\n| (In USD millions) | \nUSD | \nNOK | \nGBP | \nEffect on | \n\n\n\n
\n\n\n\n\n\n\n| Goodwill | \n31.8 | \n133.3 | \n25.8 | \nEquity | \n\n\n\n
\n\n| Net USDborrowing inNorway | \n\u2014 | \n54.7 | \n\u2014 | \nIncomestatement | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
Foreign exchange risk - Exposure - 31 December 2024
\n\n
\n\n\n| (In USD millions) | \nUSD | \nNOK | \nGBP | \nEffect on | \n\n\n\n
\n\n\n\n\n\n\n | \n | \n | \n | \n | \n\n\n\n
\n\n| Goodwill | \n28.6 | \n116.0 | \n24.0 | \nEquity | \n\n\n\n
\n\n| Net USDborrowing in | \n\u2014 | \n175.2 | \n\u2014 | \nIncomestatement | \n\n\n\n
\n\n| Norway | \n | \n | \n | \n | \n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n
Sensitivity to changes in USD/NOK exchange rates
\nThe Group\u2019s profit or loss and translation adjustments recognised in equity are primarily
\nexposed to movements in the USD/NOK exchange rate.
\nGoodwill: The sensitivity presented in the table below is based on goodwill balances in
\nentities with NOK as their functional currency.
\nNet USD borrowing in Norway: The sensitivity presented in the table below is based on net
\nUSD loan balances in entities with NOK as their functional currency. Changes in the USD/
\nNOK exchange rate affect the income statement when USD-denominated loans are
\nremeasured into local currency (NOK).
\n
\n\n\n\nNote 8 Financial Income and Expenses
\nOther Financial Items
\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign exchange gains / (losses) | \n8.9 | \n(20.9) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Extinguishment of accrued prepaid debt fees | \n(16.2) | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other items | \n(5.6) | \n(6.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total other financial items | \n(12.5) | \n(27.8) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nForeign exchange gains for the twelve months ended December 31, 2025, includes net
\ngains of $23.8 million in Archer Norge AS, a 100% owned subsidiary with NOK functional
\ncurrency. The net gains reported by Archer Norge AS include a gain of around $54.4 million
\non USD denominated external loan facilities and losses of around $32.7 million in respect
\nof internal receivable loan balances denominated in USD. The FX gains and losses in
\nsubsidiaries reporting in NOK are largely offset in equity by translation adjustments,
\nrecognised in accumulated other comprehensive income, which result from the translation
\nof the NOK financial statements to USD prior to consolidation.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
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"Tag435": {
"value": "\nNote 33 Related Parties
\nIn the normal course of business, we transact business with related parties conducted at
\narm\u2019s length.
\nThe Group had the following material transactions and balances with related parties:
\n\n
\n\n\n | \nRelation | \n | \n2025 | \n2024 | \n\n\n\n\n
\n\n| (In USD millions) | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Transactions | \n | \n | \n | \n | \n\n\n\n\n
\n\n| dSolve AS | \nAssociated Company | \nRevenue | \n0.2 | \n\u2014 | \n\n\n\n\n
\n\n| Archer Elemental UK | \nAssociated Company | \nRevenue | \n0.3 | \n\u2014 | \n\n\n\n\n
\n\n| Archer Elemental Norway AS | \nAssociated Company | \nOther operating | \n1.6 | \n\u2014 | \n\n\n\n\n
\n\n | \n | \nexpenses | \n | \n | \n\n\n\n\n
\n\n| Seatankers Management Company | \nRelated to main | \nOther operating | \n0.6 | \n0.3 | \n\n\n\n\n
\n\n| Limited (\"Seatankers\") | \nshareholder | \nexpenses | \n | \n | \n\n\n\n\n
\n\n| Balances | \n | \n | \n | \n | \n\n\n\n\n
\n\n| Archer Elemental UK | \nAssociated Company | \nOther Non-current | \n3.5 | \n\u2014 | \n\n\n\n\n
\n\n | \n | \nassets | \n | \n | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
dSolve AS, Archer Elemental UK Limited and Archer Elemental Norway AS
\ndSolve AS, Archer Elemental UK Limited and Archer Elemental Norway AS are associated
\ncompanies of the group. Reference is made to Note 16 Investments in Associates and Joint
\nVentures
\nSeatankers Management Company Limited (\"Seatankers\")
\nSeatankers is a related party, being a company in which Archer\u2019s second-largest
\nshareholder Hemen Holding Ltd has significant direct and indirect interests. Seatankers
\nprovides support and administrative services to us, and we have recorded fees of $0.6
\nmillion for these services during 2025. These expenses are included in other operating
\nexpenses in the Consolidated statement of operations.
\n
\n
\n\n\n\n",
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"Tag436": {
"value": "\n
\n\n
\n
\n
Note 34 Share-based payments
\n
Restricted Stock units
\n
The Board has from time to time granted restricted stock units, or RSUs, to members of
\n
Archer\u2019s management team. The RSUs typically vest over three to four years after the grant
\n
date. RSU awards do not receive dividends or carry voting rights during the performance
\n
period. The fair value of the restricted stock award is the quoted market price of Archer\u2019s
\n
stock on the date of grant.
\n
\n\n\n\n
\n
\n\n\n\n
Employer social security contributions or similar taxes that arise from these share-based
\npayment programs are accrued over the vesting periods of the related instruments and are
\nrecognised as a liability when the obligation arises.he fair value of the share options and
\nRSUs granted is recognised as personnel expenses. During 2025, $0.2 million has been
\nexpensed in our Statement of Operations ($0.4 million in 2024).
\nAs of 31 December 2025, total unrecognised compensation costs related to all unvested
\nshare-based awards totalled NOK 1.0 million ($0.2 million).
\nThe following table summarises information about all restricted stock transactions:
\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n
\n\n | \nRSUs | \nAvg. fairvalue* | \n RSUs | \nAvg. fairvalue* | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Unvested at beginning of year | \n272,928 | \n25.98 | \n10,264,800 | \n1.07 | \n\n\n\n\n
\n\n| Granted | \n28,925 | \n23.64 | \n\u2014 | \n\u2014 | \n\n\n\n\n
\n\n| Modification of RSUs | \n\u2014 | \n\u2014 | \n(9,854,208) | \n\u2014 | \n\n\n\n\n
\n\n| Vested/released | \n(109,264) | \n\u2014 | \n(124,064) | \n\u2014 | \n\n\n\n\n
\n\n| Forfeited | \n(54,400) | \n\u2014 | \n(13,600) | \n\u2014 | \n\n\n\n\n
\n\n| Unvested at end of year | \n138,189 | \n25.48 | \n272,928 | \n25.98 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
*Weighted average grant date fair value in NOK
\n
\n\n\n\n",
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"Tag437": {
"value": "\nNote 34 Share-based payments
\nRestricted Stock units
\nThe Board has from time to time granted restricted stock units, or RSUs, to members of
\nArcher\u2019s management team. The RSUs typically vest over three to four years after the grant
\ndate. RSU awards do not receive dividends or carry voting rights during the performance
\nperiod. The fair value of the restricted stock award is the quoted market price of Archer\u2019s
\nstock on the date of grant.
\n
\n\n\n\n",
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"language": "en",
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"Tag471": {
"value": "\n
\n
\n
\n\n
Note 35 Remuneration to the Board of Directors and
\n
executive management
\n
Remuneration to executive management
\n
Executive management consists of the Chief Executive Officer, Chief Financial Officer,
\n
General Counsel and the four segment presidents. The compensation to executive
\n
management is paid in NOK, GBP, USD and ARS and the USD figure is not fully comparable
\n
year-on-year. The company discloses remuneration to management on aggregated levels.
\n
Total compensation and benefits of the executive management were as follows:
\n
Compensation to executive management
\n
\n
\n\n\n| (In USD thousands) | \n2025 | \n2024 | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Salary | \n2,167.8 | \n1,985.6 | \n\n\n\n\n
\n\n| Bonus | \n1,375.1 | \n970.9 | \n\n\n\n\n
\n\n| Other remuneration | \n93.0 | \n85.1 | \n\n\n\n\n
\n\n| Total compensation costs | \n3,635.8 | \n3,041.6 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
\n\n\n\n
\n
Remuneration to the Board of Directors
\n
The Directors of the Board received a yearly remuneration of between $70 thousand and
\n
$80 thousand for the years ended 31 December 2025 and 31 December 2024, paid
\n
proportionately for the time spent on the Board. We do not recognise a permanent Chairman
\n
of the Board, a Chairman of the Board is elected for each meeting. Total Board fees for the
\n
years ended 31 December 2025 and 2024 were $380 thousand and $367.5 thousand
\n
respectively.
\n
\n
\n\n\n| Name | \nPosition and role | \nFees (USD | \n\n\n\n\n
\n\n | \n | \n1,000) | \n\n\n\n\n
\n\n| James O\u2019Shaughnessy | \nDirector and chairman of the audit committee | \n80 | \n\n\n\n\n
\n\n| Richard Stables | \nDirector and member of the audit committee | \n80 | \n\n\n\n\n
\n\n| Peter J. Sharpe | \nDirector and chairman of the compensation | \n75 | \n\n\n\n\n
\n\n | \ncommittee | \n | \n\n\n\n\n
\n\n| Jan Erik Klepsland | \nDirector and member of the compensation | \n75 | \n\n\n\n\n
\n\n | \ncommittee | \n | \n\n\n\n\n
\n\n| Giovanni Dell'Orto | \nDirector | \n70 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
Share-ownership and LTIP participation by the Board of Directors and executive
\n
management
\n
\n\n\n\n
\n
The table below shows the total number of shares owned directly or indirectly by Directors
\n
and key management as of 31 December 2025.
\n
Shares and RSUs held by directors and key management
\n
\n
\n\n\n| Name | \nPosition Held | \nRSUs | \nShares | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Dag Skindlo | \nChief Executive Officer | \n\u2014 | \n134,922 | \n\n\n\n\n
\n\n| Espen Joranger | \nChief Financial Officer | \n\u2014 | \n18,292 | \n\n\n\n\n
\n\n| Adam Todd | \nGeneral Counsel | \n6,800 | \n10,144 | \n\n\n\n\n
\n\n| Gerardo Molinaro | \nVice President Land Drilling | \n\u2014 | \n\u2014 | \n\n\n\n\n
\n\n| Alexander Olsson | \nExecutive Vice President PlatformOperations | \n9,664 | \n\u2014 | \n\n\n\n\n
\n\n| Nicholas Pantin | \nExecutive Vice President WellServices | \n7,800 | \n7,800 | \n\n\n\n\n
\n\n| Charlotte Berge | \nExecutive Vice President Renewables | \n20,000 | \n\u2014 | \n\n\n\n\n
\n\n| Jan Erik Klepsland | \nDirector | \n\u2014 | \n20,000 | \n\n\n\n\n
\n\n| Richard Stables | \nDirector | \n\u2014 | \n100,000 | \n\n\n\n\n
\n\n| Giovanni Dell'Orto | \nDirector | \n\u2014 | \n57 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
\n\n\n\n
\n\n\n\n\n
\nNote 26 Post-employment benefits
\nWe contribute to several defined contribution pension plans for our employees in several
\ncountries.
\nThe pension plans are measured and presented according to IAS 19.
\n\n
\n
\n
Accounting policy defined contribution plans For defined contribution plans, the Group
\n
pays contributions to publicly or privately administered pension insurance plans on a
\n
mandatory, contractual basis. The Group has no further payment obligations once the
\n
contributions have been paid. The contributions are recognised as employee benefit
\n
expense when they are due.
\n
\n\n\n
\n
\n\n\n
In 2025 we made contributions to defined benefit pension plans equivalent to $18.5 million
\n(2024: $16.4 million).
\n
\n\n\n\n
\nNote 6 Personnel Expenses
\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n
\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n
\n\n| Salaries and wages | \n404.0 | \n408.6 | \n\n\n\n\n\n\n\n\n\n
\n\n| Employer's national insurance contributions | \n58.8 | \n62.5 | \n\n\n\n\n\n\n\n\n\n
\n\n| Pension expenses | \n27.2 | \n25.8 | \n\n\n\n\n\n\n\n\n\n
\n\n| Cost of share-based option plan | \n0.2 | \n0.4 | \n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and personnel expenses | \n34.8 | \n29.9 | \n\n\n\n\n\n\n\n\n\n
\n\n| Hired personnel | \n44.5 | \n10.3 | \n\n\n\n\n\n\n\n\n\n
\n\n| Total Personnel Expenses | \n569.4 | \n537.5 | \n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Annual average number of employees | \n4,757 | \n4,947 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Number of employees at 31 December | \n4,476 | \n5,037 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag490": {
"value": "\nNote 35 Remuneration to the Board of Directors and
\nexecutive management
\nRemuneration to executive management
\nExecutive management consists of the Chief Executive Officer, Chief Financial Officer,
\nGeneral Counsel and the four segment presidents. The compensation to executive
\nmanagement is paid in NOK, GBP, USD and ARS and the USD figure is not fully comparable
\nyear-on-year. The company discloses remuneration to management on aggregated levels.
\nTotal compensation and benefits of the executive management were as follows:
\nCompensation to executive management
\n\n
\n\n\n| (In USD thousands) | \n2025 | \n2024 | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Salary | \n2,167.8 | \n1,985.6 | \n\n\n\n\n
\n\n| Bonus | \n1,375.1 | \n970.9 | \n\n\n\n\n
\n\n| Other remuneration | \n93.0 | \n85.1 | \n\n\n\n\n
\n\n| Total compensation costs | \n3,635.8 | \n3,041.6 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Annual average number of employees | \n4,757 | \n4,947 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Number of employees at 31 December | \n4,476 | \n5,037 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag491": {
"value": "\nRemuneration to the Board of Directors
\nThe Directors of the Board received a yearly remuneration of between $70 thousand and
\n$80 thousand for the years ended 31 December 2025 and 31 December 2024, paid
\nproportionately for the time spent on the Board. We do not recognise a permanent Chairman
\nof the Board, a Chairman of the Board is elected for each meeting. Total Board fees for the
\nyears ended 31 December 2025 and 2024 were $380 thousand and $367.5 thousand
\nrespectively.
\n\n
\n\n\n| Name | \nPosition and role | \nFees (USD | \n\n\n\n\n
\n\n | \n | \n1,000) | \n\n\n\n\n
\n\n| James O\u2019Shaughnessy | \nDirector and chairman of the audit committee | \n80 | \n\n\n\n\n
\n\n| Richard Stables | \nDirector and member of the audit committee | \n80 | \n\n\n\n\n
\n\n| Peter J. Sharpe | \nDirector and chairman of the compensation | \n75 | \n\n\n\n\n
\n\n | \ncommittee | \n | \n\n\n\n\n
\n\n| Jan Erik Klepsland | \nDirector and member of the compensation | \n75 | \n\n\n\n\n
\n\n | \ncommittee | \n | \n\n\n\n\n
\n\n| Giovanni Dell'Orto | \nDirector | \n70 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
Share-ownership and LTIP participation by the Board of Directors and executive
\nmanagement
\n
\n\n\n\n\nThe table below shows the total number of shares owned directly or indirectly by Directors
\nand key management as of 31 December 2025.
\nShares and RSUs held by directors and key management
\n\n
\n\n\n| Name | \nPosition Held | \nRSUs | \nShares | \n\n\n\n\n
\n\n\n\n\n\n\n\n| Dag Skindlo | \nChief Executive Officer | \n\u2014 | \n134,922 | \n\n\n\n\n
\n\n| Espen Joranger | \nChief Financial Officer | \n\u2014 | \n18,292 | \n\n\n\n\n
\n\n| Adam Todd | \nGeneral Counsel | \n6,800 | \n10,144 | \n\n\n\n\n
\n\n| Gerardo Molinaro | \nVice President Land Drilling | \n\u2014 | \n\u2014 | \n\n\n\n\n
\n\n| Alexander Olsson | \nExecutive Vice President PlatformOperations | \n9,664 | \n\u2014 | \n\n\n\n\n
\n\n| Nicholas Pantin | \nExecutive Vice President WellServices | \n7,800 | \n7,800 | \n\n\n\n\n
\n\n| Charlotte Berge | \nExecutive Vice President Renewables | \n20,000 | \n\u2014 | \n\n\n\n\n
\n\n| Jan Erik Klepsland | \nDirector | \n\u2014 | \n20,000 | \n\n\n\n\n
\n\n| Richard Stables | \nDirector | \n\u2014 | \n100,000 | \n\n\n\n\n
\n\n| Giovanni Dell'Orto | \nDirector | \n\u2014 | \n57 | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag438": {
"value": "\nNote 36 Subsequent events
\nOn 7 January 2026, Archer announced the award of an integrated plug and abandonment
\n(\u201cP&A\u201d) contract with Equinor for 30 subsea wells. The firm contract term is 3 years, and
\nincludes 2 options of 2 years each, with an estimated total contract value of up to USD 140
\nmillion. Approximately 50% of the contract value relates to services delivered by Archer\u2019s
\nalliance partners.
\nOn 14 January 2026, Archer announced the award of an integrated plug and abandonment
\n(\u201cP&A\u201d) contract in the deepwater Gulf of America, in collaboration with SLB. The scope
\ncovers P&A of three wells, and the service offerings includes project management, well
\nengineering, provision of a compact workover rig, coiled tubing, wireline services and a
\nsuite of downhole P&A technologies.
\nOn 15 January 2026, Archer announced the agreement with Patterson-UTI for the lease of
\ntwo high spec drilling rigs. The rigs are set to be deployed in Vaca Muerta, Argentina, as
\npart of Archer\u2019s announced seven-rig drilling contract with YPF.
\nOn 30 January 2026, Archer announced the closing of the transaction to sell the workover
\nbusiness in the south of Argentina, in the Provinces of Chubut and Santa Cruz. The sale
\nincludes 12 workover rigs, 12 pulling units and approximately 750 employees. Archer will
\nretain ownership of 4 drilling rigs, 5 workover units and 4 pulling units from the workover
\nbusiness. Following the divestment, Archer\u2019s Land Drilling division will primarily operate
\ndrilling and workover services in the unconventional Vaca Muerta field.
\nOn 2 February 2026, the Board of Directors approved a cash distribution of 0.62 NOK per
\nshare, equal to about $6.4 million, paid in Q1 2026 in the form of return of capital.
\nOn 10 March 2026, Archer announced a 3\u2011year extension of its long\u2011term wireline services
\ncontract with a major operator on the Norwegian continental shelf.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag498": {
"value": "\n
\n\n
Note 37 Subsidiaries
\n
Archer group companies and ownership interests
\n
\n
\n\n\n| Company | \nCountry | \nOwnerhsip | \n\n\n\n\n
\n\n\n\n\n\n\n\n| DLS Ada S.A. | \nArgentina | \n100% | \n\n\n\n\n
\n\n| DLS-Archer Ltd. S.A. | \nArgentina | \n100% | \n\n\n\n\n
\n\n| DLS Argentina Ltd. (Argentina Branch) | \nArgentina | \n100% | \n\n\n\n\n
\n\n| DLS Argentina Fluidos S.A. | \nArgentina | \n100% | \n\n\n\n\n
\n\n| Archer Well Company (Australia) Pty Ltd | \nAustralia | \n100% | \n\n\n\n\n
\n\n| Archer Well Company International (Azerbaijan Branch) | \nAzerbaijan | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Ltd (Azerbaijan Branch) | \nAzerbaijan | \n100% | \n\n\n\n\n
\n\n| Archer Emerald (Bermuda) Limited | \nBermuda | \n100% | \n\n\n\n\n
\n\n| Archer Topaz Limited | \nBermuda | \n100% | \n\n\n\n\n
\n\n| Archer DLS Corporation (Bolivia Branch) | \nBolivia | \n100% | \n\n\n\n\n
\n\n| Archer do Brasil Ltda | \nBrazil | \n100% | \n\n\n\n\n
\n\n| Archer DLS Corporation | \nBVI | \n100% | \n\n\n\n\n
\n\n| DLS Argentina Limited | \nBVI | \n100% | \n\n\n\n\n
\n\n| DLS Argentina Holding Ltd | \nBVI | \n100% | \n\n\n\n\n
\n\n| Archer BCH (Canada) Ltd | \nCanada | \n100% | \n\n\n\n\n
\n\n| Archer BCH (Canada) Ltd (Guyana Branch) | \nGuyana | \n100% | \n\n\n\n\n
\n\n| Archer Oil Tools AS (Congo Branch) | \nCongo | \n100% | \n\n\n\n\n
\n\n| Archer Offshore Denmark AS | \nDenmark | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Limited (France Branch) | \nFrance | \n100% | \n\n\n\n\n
\n\n| Archer Services Limited | \nHong Kong | \n100% | \n\n\n\n\n
\n\n| Jar\u00f0boranir hf.(\u201cIceland Drilling\u201d)* | \nIceland | \n60% | \n\n\n\n\n
\n\n| PT Archer | \nIndonesia | \n95% | \n\n\n\n\n
\n\n| Archer Well Company (M) SDN BHD | \nMalaysia | \n100% | \n\n\n\n\n
\n\n| Archer Well Solutions Sdn Bhd | \nMalaysia | \n49% | \n\n\n\n\n
\n\n| Archer Well Company International Ltd (Mozambique Branch) | \nMozambique | \n100% | \n\n\n\n\n
\n\n| Archer Oil Tools AS (Netherland Branch) | \nNetherlands | \n100% | \n\n\n\n\n
\n\n| Archer Well Services Nigeria Limited | \nNigeria | \n100% | \n\n\n\n\n
\n\n| Archer AS | \nNorway | \n100% | \n\n\n\n\n
\n\n| Archer Consulting AS | \nNorway | \n100% | \n\n\n\n\n
\n\n| Archer Elemental Norway AS | \nNorway | \n60% | \n\n\n\n\n
\n\n| Archer Norge AS | \nNorway | \n100% | \n\n\n\n\n
\n\n| Archer Oiltools AS | \nNorway | \n100% | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
\n
\n\n\n| Archer Wind AS | \nNorway | \n100% | \n\n\n\n\n
\n\n\n\n\n\n\n\n| DSolve AS | \nNorway | \n20% | \n\n\n\n\n
\n\n| Vertikal Service AS | \nNorway | \n65% | \n\n\n\n\n
\n\n| Archer Wellconnection AS | \nNorway | \n65% | \n\n\n\n\n
\n\n| Archer Well Machining AS | \nNorway | \n65% | \n\n\n\n\n
\n\n| Archer Poland Sp. zo.o. | \nPoland | \n100% | \n\n\n\n\n
\n\n| Rawabi Archer Company | \nSaudi Arabia | \n10% | \n\n\n\n\n
\n\n| D&K Logistics Grandeur Pte Ltd. | \nSingapore | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Limited (Abu Dhabi Branch) | \nUAE | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Limited (Jebel Ali Free Zone Branch) | \nUAE | \n100% | \n\n\n\n\n
\n\n| Archer Well Oil and Gas Services LLC | \nUAE | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Limited | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Assets UK Limited | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Elemental UK Ltd. | \nUK | \n60% | \n\n\n\n\n
\n\n| Archer Consulting Resources Limited | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Well Company International Ltd | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Well Services (Saudi Arabia) Ltd | \nUK | \n100% | \n\n\n\n\n
\n\n| Romar International Ltd. | \nUK | \n100% | \n\n\n\n\n
\n\n| Romar Topco Ltd. | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Holdco LLC | \nUSA | \n100% | \n\n\n\n\n
\n\n| Archer Oiltools LLC | \nUSA | \n100% | \n\n\n\n\n
\n\n| Archer Well Company Inc | \nUSA | \n100% | \n\n\n\n\n
\n\n| Premium Oilfield Services LLC | \nUSA | \n100% | \n\n\n\n\n
\n\n| Wellbore Fishing & Rental Tools LLC | \nUSA | \n100% | \n\n\n\n\n
\n\n| Ziebel US Inc. | \nUSA | \n100% | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
*subsidiaries of Iceland Drilling has not been included in this overview
\n
\n\n\n\n
\n\n\n\n\n
\n\n
\n
\n
\n
\n
Based on the shareholders\u2019 agreements, key decisions relating to strategic, operational
\n
and financial matters require the consent of both shareholders, and the co\u2011investor holds
\n
substantive participating rights that prevent the Group from unilaterally directing the relevant
\n
activities of the entities. Accordingly, the Group does not control the Archer Elemental
\n
entities, but exercises significant influence, and the investments are therefore accounted
\n
for using the equity method.
\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Note 16 Investments in Associates and Joint Ventures
\n
Investments in which we have the ability to exercise significant influence, but do not control
\n
or jointly control, are accounted for under the equity method of accounting and are reported
\n
under Investments in associates and joint ventures in the Consolidated Balance Sheet.
\n
Significant influence is generally deemed to exist if the Company has an ownership interest
\n
in the voting stock of the investee between 20 percent and 50 percent, although other
\n
factors such as representation on the investee\u2019s Board of Directors and the nature of
\n
commercial arrangements are considered in determining whether the equity method of
\n
accounting is appropriate.
\n
Investments in which the Company exercises joint control together with one or more parties,
\n
whereby decisions about the relevant activities require the unanimous consent of the parties
\n
sharing control, are also accounted for under the equity method of accounting.
\n
Under this method of accounting, our share of the net earnings or losses of the investee,
\n
together with our share of other comprehensive income, impairment losses, and gains or
\n
losses on sale of such investments, is reported under Share of gains/losses of associates
\n
and joint ventures in the Consolidated Statement of Operations.
\n
We evaluate our equity method investments whenever events or changes in circumstances
\n
indicate that the carrying amounts of such investments may be impaired. If the recoverable
\n
amount of an equity method investment (being the highest of its fair value less costs of
\n
disposal and its value in use) is less than its carrying amount, an impairment loss is recorded
\n
in earnings in the current period in accordance with IAS 36 \u2013 Impairment of Assets. If the
\n
recoverable amount subsequently increases, the impairment loss is reversed in the period
\n
of recovery.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
There are no significant statutory, contractual or regulatory restrictions that limit the Group\u2019s
\n
ability to access or use the assets, or to settle the liabilities, of its associated companies.
\n
We have the following participation in investments that are recorded using the equity
\n
method:
\n
\n
\n\n\n | \n 31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| DSolve AS | \n20% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Archer Elemental UK | \n60% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Archer Elemental Norway AS | \n60% | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
The carrying amounts of our investments in our equity method investment are as follows:
\n
\n
\n\n\n | \n31 Dec. 2025 | \n31 Dec. 2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n| (In USD millions) | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Initial investment in DSolve AS | \n3.6 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share of net results since acquisition | \n0.1 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Translation adjustment | \n0.3 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Reported investment in associates | \n4.0 | \n\u2014 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
DSolve
\n
During the nine months of 2025, we paid $2.15 million to acquire 20% of a dSolve AS (or
\n
\"DSolve\") an unrelated, startup-company based in Trondheim, Norway, with the vision to
\n
pioneer rigless subsea plugging & abandonment, using electrochemical steel removal
\n
technology. The share purchase agreement provides Archer with an option to purchase the
\n
remaining 80% of thee company in the future, after twelve months and on the occurrence
\n
of certain conditions including the successful commercialisation of the DSolve technology.
\n
If the development of the technology is successful an additional contingent consideration
\n
is payable, and Archer will have exclusive rights to use the technology in the provision of
\n
services to our customers. We have accrued additional estimated contingent purchase
\n
consideration of $1.5 million.
\n
Archer Elemental UK Limited and Archer Elemental Norway AS
\n
We have entered into a joint venture with Elemental Energies Group, a wells focused
\n
engineering and consultancy provider, focusing on the upstream decommissioning and
\n
low carbon energy sectors, with a view to providing more fully integrated services. We have
\n
agreed with the co-investor that Archer will contribute 60% of funding and will own 60%
\n
of the joint venture entities. Capitalisation of the joint venture companies shall be on a pro-
\n
rata basis based on the respective shareholding.
\n
Significant judgements in determining control
\n
Management has exercised judgement in determining that the Group does not control
\n
Archer Elemental UK Limited and Archer Elemental Norway AS, despite holding 60% of
\n
the ownership interests. While the Group is exposed to variable returns from its investment,
\n
the assessment of control under IFRS 10 requires an evaluation of power over the relevant
\n
activities.
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag439": {
"value": "\nNote 37 Subsidiaries
\nArcher group companies and ownership interests
\n\n
\n\n\n| Company | \nCountry | \nOwnerhsip | \n\n\n\n\n
\n\n\n\n\n\n\n\n| DLS Ada S.A. | \nArgentina | \n100% | \n\n\n\n\n
\n\n| DLS-Archer Ltd. S.A. | \nArgentina | \n100% | \n\n\n\n\n
\n\n| DLS Argentina Ltd. (Argentina Branch) | \nArgentina | \n100% | \n\n\n\n\n
\n\n| DLS Argentina Fluidos S.A. | \nArgentina | \n100% | \n\n\n\n\n
\n\n| Archer Well Company (Australia) Pty Ltd | \nAustralia | \n100% | \n\n\n\n\n
\n\n| Archer Well Company International (Azerbaijan Branch) | \nAzerbaijan | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Ltd (Azerbaijan Branch) | \nAzerbaijan | \n100% | \n\n\n\n\n
\n\n| Archer Emerald (Bermuda) Limited | \nBermuda | \n100% | \n\n\n\n\n
\n\n| Archer Topaz Limited | \nBermuda | \n100% | \n\n\n\n\n
\n\n| Archer DLS Corporation (Bolivia Branch) | \nBolivia | \n100% | \n\n\n\n\n
\n\n| Archer do Brasil Ltda | \nBrazil | \n100% | \n\n\n\n\n
\n\n| Archer DLS Corporation | \nBVI | \n100% | \n\n\n\n\n
\n\n| DLS Argentina Limited | \nBVI | \n100% | \n\n\n\n\n
\n\n| DLS Argentina Holding Ltd | \nBVI | \n100% | \n\n\n\n\n
\n\n| Archer BCH (Canada) Ltd | \nCanada | \n100% | \n\n\n\n\n
\n\n| Archer BCH (Canada) Ltd (Guyana Branch) | \nGuyana | \n100% | \n\n\n\n\n
\n\n| Archer Oil Tools AS (Congo Branch) | \nCongo | \n100% | \n\n\n\n\n
\n\n| Archer Offshore Denmark AS | \nDenmark | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Limited (France Branch) | \nFrance | \n100% | \n\n\n\n\n
\n\n| Archer Services Limited | \nHong Kong | \n100% | \n\n\n\n\n
\n\n| Jar\u00f0boranir hf.(\u201cIceland Drilling\u201d)* | \nIceland | \n60% | \n\n\n\n\n
\n\n| PT Archer | \nIndonesia | \n95% | \n\n\n\n\n
\n\n| Archer Well Company (M) SDN BHD | \nMalaysia | \n100% | \n\n\n\n\n
\n\n| Archer Well Solutions Sdn Bhd | \nMalaysia | \n49% | \n\n\n\n\n
\n\n| Archer Well Company International Ltd (Mozambique Branch) | \nMozambique | \n100% | \n\n\n\n\n
\n\n| Archer Oil Tools AS (Netherland Branch) | \nNetherlands | \n100% | \n\n\n\n\n
\n\n| Archer Well Services Nigeria Limited | \nNigeria | \n100% | \n\n\n\n\n
\n\n| Archer AS | \nNorway | \n100% | \n\n\n\n\n
\n\n| Archer Consulting AS | \nNorway | \n100% | \n\n\n\n\n
\n\n| Archer Elemental Norway AS | \nNorway | \n60% | \n\n\n\n\n
\n\n| Archer Norge AS | \nNorway | \n100% | \n\n\n\n\n
\n\n| Archer Oiltools AS | \nNorway | \n100% | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n
\n\n\n| Archer Wind AS | \nNorway | \n100% | \n\n\n\n\n
\n\n\n\n\n\n\n\n| DSolve AS | \nNorway | \n20% | \n\n\n\n\n
\n\n| Vertikal Service AS | \nNorway | \n65% | \n\n\n\n\n
\n\n| Archer Wellconnection AS | \nNorway | \n65% | \n\n\n\n\n
\n\n| Archer Well Machining AS | \nNorway | \n65% | \n\n\n\n\n
\n\n| Archer Poland Sp. zo.o. | \nPoland | \n100% | \n\n\n\n\n
\n\n| Rawabi Archer Company | \nSaudi Arabia | \n10% | \n\n\n\n\n
\n\n| D&K Logistics Grandeur Pte Ltd. | \nSingapore | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Limited (Abu Dhabi Branch) | \nUAE | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Limited (Jebel Ali Free Zone Branch) | \nUAE | \n100% | \n\n\n\n\n
\n\n| Archer Well Oil and Gas Services LLC | \nUAE | \n100% | \n\n\n\n\n
\n\n| Archer (UK) Limited | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Assets UK Limited | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Elemental UK Ltd. | \nUK | \n60% | \n\n\n\n\n
\n\n| Archer Consulting Resources Limited | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Well Company International Ltd | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Well Services (Saudi Arabia) Ltd | \nUK | \n100% | \n\n\n\n\n
\n\n| Romar International Ltd. | \nUK | \n100% | \n\n\n\n\n
\n\n| Romar Topco Ltd. | \nUK | \n100% | \n\n\n\n\n
\n\n| Archer Holdco LLC | \nUSA | \n100% | \n\n\n\n\n
\n\n| Archer Oiltools LLC | \nUSA | \n100% | \n\n\n\n\n
\n\n| Archer Well Company Inc | \nUSA | \n100% | \n\n\n\n\n
\n\n| Premium Oilfield Services LLC | \nUSA | \n100% | \n\n\n\n\n
\n\n| Wellbore Fishing & Rental Tools LLC | \nUSA | \n100% | \n\n\n\n\n
\n\n| Ziebel US Inc. | \nUSA | \n100% | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
*subsidiaries of Iceland Drilling has not been included in this overview
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag440": {
"value": "\nNote 38 The 20 largest shareholders
\nThe overview is based on the Norwegian Central Securities Depository\u2019s share register as
\nof 31 December 2025 and shows the 20 largest shareholders of Archer Limited.
\n\n
\n\n\n| Name | \nHolding | \nStake | \n\n\n\n\n
\n\n| HEMEN HOLDING LIMITED | \n30,452,153 | \n30.6% | \n\n\n\n\n
\n\n| Morgan Stanley & Co. Int. Plc. | \n5,027,189 | \n5.1% | \n\n\n\n\n
\n\n| Euroclear Bank S.A./N.V. | \n4,587,879 | \n4.6% | \n\n\n\n\n
\n\n| DNB Markets Aksjehandel/-analyse | \n3,864,141 | \n3.9% | \n\n\n\n\n
\n\n| UBS AG | \n2,871,551 | \n2.9% | \n\n\n\n\n
\n\n| SONGA CAPITAL AS | \n2,838,473 | \n2.9% | \n\n\n\n\n
\n\n| CLEARSTREAM BANKING S.A. | \n2,533,186 | \n2.5% | \n\n\n\n\n
\n\n| Goldman Sachs International | \n2,394,706 | \n2.4% | \n\n\n\n\n
\n\n| SEB CMU/SECFIN POOLED ACCOUNT | \n2,125,587 | \n2.1% | \n\n\n\n\n
\n\n| CODEE HOLDING AS | \n2,000,000 | \n2.0% | \n\n\n\n\n
\n\n| FOLKETRYGDFONDET | \n1,836,015 | \n1.8% | \n\n\n\n\n
\n\n| Aconcagua management Ltd | \n1,800,000 | \n1.8% | \n\n\n\n\n
\n\n| VERDIPAPIRFONDET HEIMDAL H\u00d8YRENTE | \n1,800,000 | \n1.8% | \n\n\n\n\n
\n\n| Danske Bank A/S | \n1,429,772 | \n1.4% | \n\n\n\n\n
\n\n| BAROKK INVEST AS | \n1,300,000 | \n1.3% | \n\n\n\n\n
\n\n| NORDNET LIVSFORSIKRING AS | \n1,233,232 | \n1.2% | \n\n\n\n\n
\n\n| TYRANNUS AS | \n1,155,555 | \n1.2% | \n\n\n\n\n
\n\n| TOLUMA NORDEN AS | \n949,939 | \n1.0% | \n\n\n\n\n
\n\n| STAVANGER FORVALTNING AS | \n900,517 | \n0.9% | \n\n\n\n\n
\n\n| STIFTELSEN KISTEFOS-MUSEETS DRIFTS | \n900,000 | \n0.9% | \n\n\n\n\n
\n\n| Other shareholders | \n27,495,503 | \n27.6% | \n\n\n\n\n
\n\n| Total | \n99,495,398 | \n100% | \n\n\n\n\n
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory",
"language": "en",
"entity": "scheme:549300D1D5TS4O1V4923",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
}
}
}