Q2 2022 Siem Offshore Inc Earnings Call Transcript
Good day, everyone. And welcome to the review and presentation of our results for the second quarter 2022. My name is Bernt Omdal, and I'm the Chief Executive Officer of the company. I'm joined by our CFO, Vidar Jerstad; and together, we'll take you through this presentation.
Siem Offshore's report for the second quarter 2022 was released prior to the market opening today. In this presentation, we will cover the main highlights of the report, and we will refer to the presentation issued together with the financial report. At the end of the presentation, we will open up for questions.
Looking at the highlights for the quarter, we had 28 vessels in operation; and all vessels delivered a positive EBITDA margin. We had USD75.3 million in revenue, and we delivered an EBITDA of USD32.2 million. This is equivalent to 43% EBITDA margin. Our cash position was USD72 million at the end of the quarter, and our book equity ratio was 34%.
In addition to short-term work concluded, we secured one long-term contract in the quarter. That was the Siem
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