Oct 24, 2024 / 07:00AM GMT
Andreas Thorsheim - Otovo ASA - Chief Executive Officer
Investors, ladies and gentlemen, welcome to this presentation of Otovo's third quarter results for 2024. Today, we will go through the business update as usual. I'll present that before my colleague, Petter Ulset comes in to do the financial results. I'll return for the summary and outlook.
Throughout the presentation, don't hesitate to leave your questions in the chat, and we'll do our best to answer them towards the end. So let me just begin by setting the stage in that this morning, we signed a term sheet for the sale of our Continental European leasing/ subscription assets, and that is of course, very good news.
And that will be something that we emphasize in this presentation. The portfolio sale term sheet was signed today, that is beneficial in three ways. First, it changes the cash flow dynamics from outflows in the shape of investments to inflows in the shape of forward flow. It creates an immediate cash release, and it leads to a one time gain in the first quarter of 2025, when the transaction is expected to close.
Q3 2024 Otovo ASA Earnings Call Transcript
Oct 24, 2024
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