Q3 2024 Odfjell Technology Ltd Earnings Call Transcript
Key Points
- Odfjell Technology Ltd (STU:ND4) reported a strong order backlog of NOK30.7 billion, indicating robust future business prospects.
- The company increased its dividend from NOK45 million to NOK60 million, reflecting a commitment to returning value to shareholders.
- Odfjell Technology Ltd (STU:ND4) has a healthy balance sheet with available liquidity of over NOK1 billion, providing financial flexibility.
- The company has won more than 100 contracts this year, showcasing its competitive edge and market presence.
- Odfjell Technology Ltd (STU:ND4) is well-positioned in the plug and abandon market, which is expected to grow due to regulatory pressures and environmental concerns.
- The company's EBIT decreased by 5% compared to the previous year, indicating some challenges in maintaining profitability.
- There is a slowdown in market activity levels, with investments and activity levels being postponed, affecting short-term growth.
- The company faces volatility in oil prices and global unrest, contributing to market uncertainty.
- Odfjell Technology Ltd (STU:ND4) has experienced delays in startup and mobilization activities in some regions, impacting operational efficiency.
- The company's well services segment saw a reduction in revenue and EBITDA due to changes in product mix and maintenance interruptions.
Hello, welcome to El Technologies Q3 presentation. My name is Kta GLN. I'm the SVP for Finance and Investor Relations in Optic 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.
Simon will take us through the first part of the presentation while you will never cover the financial figures. Before we conclude with a Q&A session, you can submit your questions through the Webcast portal or by using the dial in numbers. I now hand it over to Simon for the first part.
Thank you. Got, thank you. And good morning to everybody. Thanks for calling in.
I give you the, the highlights on the financials. I'm going to go through the market situation and some other updates on the, on our activities as we have now presented in this in this quarter.
But the current situation with the Q3, we have a strong order backlog and a healthy
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