Q4 2022 Siem Offshore Inc Earnings Call Transcript
Hello, everyone, and welcome to the presentation of Siem Offshore's results for the fourth quarter and full year of 2022. My name is the Vidar Jerstad and I am the CFO of the company. Our Chief Commercial Officer, Andreas Hageli has joined me, and together we will take you through this presentation.
Siem Offshore's fourth-quarter report was released prior to the market opening today. The slides of this presentation were also made available then. We will now cover the main highlights of the fourth-quarter report and at the end of the presentation, we will open up for questions.
Some highlights for the quarter. There were 28 vessels in operation. Revenue was USD64.3 million. EBITDA came out at USD20.8 million, which is equivalent to 32% of EBITDA margin. Our cash position was USD94.9 million at the end of the quarter. Our book equity ratio was 35%. This was a typical quarter for entering the winter season and somewhat weaker quarter than same quarter last year.
And then some business updates. Excluding vessels in lay-up, average
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