Financial Data and Key Metrics Changes - Revenues decreased by $3 million primarily due to lower utilization in the Other Services segment, partially offset by higher revenues from new contracts [9] - Adjusted EBITDA remained consistent at $58 million, reflecting lower operating and administrative expenses that offset the seasonal revenue decline [10] - Available liquidity as of March 31 was approximately $254 million, with 86% of capital investments for new government services contracts funded [12] Business Line Data and Key Metrics Changes - Offshore Energy Services (OES) revenues in Europe decreased by $4.5 million due to lower utilization in the UK, while revenues in Africa increased by $2.2 million and in the Americas by $1.9 million [10] - Government Services revenues increased by $3.4 million, primarily due to the Irish Coast Guard contract [11] - Other Services revenues decreased by $6 million due to lower seasonal activity in Australia and unfavorable foreign exchange impacts [11] Market Data and Key Metrics Changes - The company noted macroeconomic risks and uncertainty have increased, particularly due to U.S. tariffs on steel and aluminum imports affecting repair and maintenance costs [6][7] - Despite these challenges, the company maintains a positive outlook for its offshore Energy Services business, particularly for deepwater projects [8] Company Strategy and Development Direction - The company aims to lead in vertical flight solutions, focusing on the ongoing launch of search and rescue services and transitioning operations for government contracts [16][18] - The company is committed to sustainability and minimizing its environmental footprint while maintaining operational resilience [19] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in affirming financial guidance for 2025 and 2026, supported by stable cash flows from Government Services and the nature of offshore energy revenues [9][19] - The company anticipates continued investment in offshore activities, particularly in deepwater projects, despite current oil price fluctuations [52] Other Important Information - The company is involved in a project in Norway for zero and low emission aircraft, with demonstration flights expected to begin soon [32][46] - Incremental improvements in supply chain challenges have been noted, particularly for the S-92 fleet [44] Q&A Session Summary Question: Why is the company reaffirming guidance amid market uncertainty? - Management conducted a thorough review of the macro environment and customer conversations, leading to confidence in the guidance due to stable cash flows from Government Services and the nature of offshore energy revenues [25][26] Question: What are the benefits of the new long-term agreement with Sikorsky? - The agreement provides price visibility and stability for a significant portion of the S-92 fleet, enhancing business management capabilities [27] Question: What is the status of helicopter deliveries related to the Irish contract? - There have been supply chain challenges, but the company is confident in receiving the remaining helicopters needed for the contract [28][29] Question: Are there any updates on the EVTOR test arena in Norway? - The project is progressing well, with expectations for positive results leading to potential expansion of operations [46] Question: How is the company managing cost exposure in a higher tariff environment? - The majority of revenues are generated outside the U.S., and while there is some exposure to tariffs, it is not expected to materially impact financial performance [38] Question: What is the outlook for offshore activity given softening oil prices? - Currently, there are no tangible impacts on offshore activity, with deepwater projects well-positioned for continued investment [51][52]

编前：当地时间4月3日，美国正式开始对所有进口汽车加征25％关税；另外，针对汽车零部件的额外关税将不迟于5月3日开始征收，这使得全球汽车产 业链震荡加剧。这场以"保护本土制造"为名的"贸易地震"，不仅让底特律三巨头的供应链陷入混乱，更迫使欧洲乃至日韩汽车巨头遭受巨大的冲击。要知 道，这些跨国车企当前在美国市场上销售的汽车，很大一部分来自进口。即使是在美国组装的整车，很多零部件也来自其他国家。面对美国特朗普政府挥舞 的"关税大棒"，业务高度依赖全球化分工的跨国车企会如何应对？从本期开始，本报设立"美汽车关税下车企众生相"系列报道，持续追踪代表性车企如何应 对横亘在他们眼前的"关税大山"。 美国对所有进口汽车加征25％关税的措施，已于4月3日正式生效。根据白宫发布的文件，25％的关税适用于进口乘用车和轻型卡车，以及发动机、变速器、 动力总成零部件、电子元件等关键零部件，并将在必要时扩展至其他零部件。其中，针对汽车零部件的关税将不迟于5月3日开始征收。在此之前，美国对进 口乘用车整体征收2.5％的关税（部分国家和地区除外），对卡车征收25％的关税。加征25％的关税后，乘用车和卡车的进口税率分别飙升至27.5％和50 ...

将投中网设为"星标⭐"，第一时间收获最新推送 "我们国家的低空经济，可以说是由数个万亿级产业构成。" 整理丨鲁智高 来源丨 投中网 作为国家战略性新兴产业，低空经济近年来呈现爆发式增长，同时成为社会热议话题。 在以颠覆性技术重塑传统交通格局的过程中，具备突破地面交通时空限制能力的低空经济，不仅正在 重新定义交通的时间和空间，同时也在商业应用方面带来了极大的想象空间。 2 025年4月16-18日，由投中信息、投中网共同主办的第19届中国投资年会·年度峰会在中关村国际创 新中心隆重召开。活动现场，沃飞长空CEO兼首席科学家郭亮发表了题为"低空经济——重新定义交 通的时间和空间"的主题演讲。 "我们国家的低空经济，可以说是由数个万亿级产业构成。"郭亮认为，目前低空经济的全球主要参与 者是传统航空、汽车行业、互联网公司等三类玩家，"传统航空会用航空思维或技术基础研制航空 器，汽车行业会用汽车产业链或汽车工业基础制造新物种，互联网公司会用互联网思维去运行新的商 业模式。" 以下为郭亮现场演讲实录，由投中网整理： 非常高兴今天有这样一个机会，跟大家分享一下我们对于低空经济，特别是主机的认识，也汇报一下 我们近期的进展情 ...