Odfjell Technology Ltd (FRA:ND4)
€ 3.83 -0.125 (-3.16%) Market Cap: 151.75 Mil Enterprise Value: 215.96 Mil PE Ratio: 6.05 PB Ratio: 1.49 GF Score: 68/100
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Q2 2024 Odfjell Technology Ltd Earnings Call Transcript

Aug 22, 2024 / 08:30AM GMT
Release Date Price: €4.87 (-0.31%)

Key Points

Positve
  • Revenue growth of 8% in Q2 2024 compared to Q2 2023.
  • EBITDA increased to NOK221 million in Q2 2024 from NOK212 million in Q2 2023.
  • Strong order backlog of NOK13.4 billion.
  • Significant cash position with NOK846 million available.
  • Positive market outlook with expected high demand for well services globally.
Negative
  • Lower EBITDA margin within well services due to market activities and rig moves.
  • Impact of non-renewal of certain contracts, affecting EBITDA.
  • Cash balance decline of NOK21 million compared to Q1 2024 due to working capital fluctuations.
  • Limited market growth in the North Sea, requiring focus on international expansion.
  • Uncertainty in concluding advanced bids in Brazil and other international markets.
Gert Haugland
Odfjell Technology Ltd - SVP, Finance and IR

Hello. Welcome to Odfjell Technology Q2 presentation. My name is Gert Haugland. I'm the SVP for Finance and Investor Relations in Odfjell Technology. I'm joined by our CEO, Simen Lieungh; and our CFO, Jone Torstensen.

You'll find the presentation on our website, and I ask you to take notice of the disclaimer on page 2. Simen will go through the key highlights and talk about the market outlook, the backlog and contract status. Jone will thereafter cover the financial figures before we conclude with a Q&A session. (Event Instructions)

I'll now hand it over to Simen for the first part.

Simen Lieungh
Odfjell Technology Ltd - Group Chief Executive Officer

Thank you, Gert. And thank you for calling in, everybody. I'm going to go through, as Gert said, highlights in the markets for both financials and what's happening in the market. So the overall numbers, which will be more in detail by Jone later is revenue. in the quarter of NOK1.36 billion.

We have an EBITDA of NOK221

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