Kistos Holdings AIM:KIST
- Founded
- 2020 · London, England
- Incorporated
- United Kingdom
- Chief executive
- Peter Mann
- Employees
- 50
- Reports in
- EUR
- Companies House
- 14490676
Gas-focused exploration and production company built to profit from the energy transition's need for gas, with producing and development assets in the Dutch North Sea, UK North Sea and Norway. Created by Andrew Austin following his earlier success building and selling RockRose Energy.
Read straight from the annual reports
317c at close on 2 Oct 2026 · 5 reported years, 2021–2025
| Line | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|---|
| Revenue | later 223.0 | |||||
| Gross profit | — | — | ||||
| Operating profit | later (40.7) | |||||
| Net finance cost | later 8.4 | |||||
| Profit before tax | later (49.1) | |||||
| Tax charge | later (22.5) | |||||
| Profit for the year | later (26.6) | |||||
| EBITDA | ||||||
| Basic EPS | ||||||
| Diluted EPS | ||||||
| Dividend per share | — | — | — |
EUR millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
5 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Group production volumes (boepd)
2025 production averaged 8,940 boepd, at the top end of 8,000-9,300 guidance, up from 8,050 boepd in 2024, driven by Jotun FPSO start-up and Balder Future well ramp-up
page 11Realised commodity prices for liquids and gas
Average realised price: liquids $63/boe (2024:$79/boe), UK gas $67/boe, NL gas $69/boe; revenue broadly flat YoY as higher production offset lower average realised prices
page 11Unit operating costs stable at $29/boe
Operating costs remained stable at $29/boe, with inflationary cost increases being offset by higher production
page 11Netherlands Production CGU impairment
$14m impairment charge recognised against the Netherlands Production CGU following the P15-D outage and cessation-of-production planning to 2027
page 63We remain actively focused on pursuing further value accretive merger and acquisition (M&A) opportunities in both the North Sea and the Middle East and North Africa (MENA) region in support of our strategy to grow scale, optimise asset diversity and enhance shareholder value.
page 6On 1 May 2026, Kistos Holdings plc announced the pricing of a $300 million issue of senior secured bonds at par, coupon 9.875% p.a., with a four-year maturity, net proceeds intended to redeem the Group's existing KEN001 and KEN002 bonds following completion of the Blocks 3 & 4 acquisition and waiver of the Royal Decree condition
page 77The Directors did not pay an interim dividend and have not proposed a final dividend for the year ended 31 December 2025.
page 50Financial statements prepared on a going concern basis, covering the period to June 2027; base case assumes conservative internal price decks, operator-based production/opex forecasts, and Norwegian tax rebates. The Group refinanced its bonds in May 2025 (four-year tenor to 2030) and post year-end (1 May 2026) priced a $300m senior secured bond issue whose proceeds are intended to redeem the existing KEN001/KEN002 bonds. Independent auditor BDO LLP issued an unqualified/unmodified opinion, with a single key audit matter: impairment testing of the carrying value of producing oil and gas assets (Netherlands and UK Production CGUs and Norway CGUs); Group materiality was set at $9.1m (1.0% of total consolidated assets).
page 84- Political - changes in national government policies towards oil and gas/gas-focused companies could adversely affect ability to deliver strategy (risk level increased in 2025)p.30
- Growth of business and reserves base - dependent on identifying new reserves/resources and M&A; risk of overpayment or impairmentp.30
- Climate change and energy transition - laws/regulations could reduce financing availability and hydrocarbon demandp.31
- Cyber security - risk of financial/reputational loss from IT system failure or attackp.31
Read from C000746-AR-2025-ch.
4 annual reports read, FY2022 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (4)
FY2026Next report expected 25 May 2027