May 15, 2024 / 11:00AM GMT
Bernt Omdal - Siem Offshore Inc - Chief Executive Officer
Good day, everyone, and welcome to the review and presentation of our results for the first quarter. My name is Bernt Omdal, and I'm the Chief Executive Officer of Siem Offshore. I'm joined by our CFO, Vidar Jerstad and together we will take you through this presentation.
Siem Offshore's report for the first quarter 2024 was released prior to the market opening today. And in this presentation, we will cover the main highlights for the report, and we will refer to the presentation issued together with the financial report. And at the end of the presentation, we will open up questions.
Looking at the highlights for the quarter, we had 26 vessels in operation and all vessels delivered a positive EBITDA margin. We had close to $83 million in revenue, and we delivered $33 million in EBITDA, which is equivalent to 40% EBITDA margin. Our cash position at the end of the quarter was close to $77 million and our book equity ratio was close to 50%. In the quarter, we had clause renewals for three of our vessels which are impacting the margin
Q1 2024 Siem Offshore Inc Earnings Call Transcript
May 15, 2024
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