Q1 2022 Siem Offshore Inc Earnings Call Transcript
Good day, everyone, and welcome to the review and presentation of our results for the first quarter 2022. My name is Bernt Omdal, and I'm the CEO of the company. I'm joined here today by our CFO, Vidar Jerstad, and together, we will take you through this presentation.
Siem Offshore's report for the first quarter 2022 was released prior to the market opening today. We intend to cover the main highlights of the report, and we will refer to the presentation issued together with the financial report.
We will cover the main happenings through the quarter and, subsequently, financial performance and position, vessel employment, and contract backlog, and we will provide some comments on the market outlook. And at the end of the presentation, we will open up for questions.
Looking at the highlights for the quarter, we had $61 million in revenue. We delivered an EBITDA of USD16.7 million, which is equivalent to 27%. And our cash position at the end of the quarter was $80 million.
Moving on to next slide, we continued to deliver safe and
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