Q2 2020 BW Energy Ltd Earnings Call Transcript
Hello, and welcome to the BW Energy trading update Q2 2020. (Operator Instructions)
Good afternoon, and welcome to BW Energy presentation of the second quarter and first half 2020. This presentation will be hosted by myself, Carl Arnet; our CFO, Knut Sæthre; and COO, Lin Espey. The presenters will be myself and then followed with Knut, who will take you through the financials. And then we will all be present to answer any Q&A that will be organized later in the call.
So on to our disclaimer page 2 of the presentation. Please note our disclaimer. Then on to page 3, our highlights. The second quarter gave an EBITDA of $21.8 million, and we had continued to have a strong cash position at the end of the second quarter of $127 million. We completed one lifting in the second quarter to [cut the] company.
We did, as you know, defer our investment projects due to the COVID-19 restrictions affecting our smooth operations of project. We have focused on protecting our employees and partners from the COVID
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