Q3 2024 Bonheur ASA Earnings Call Transcript
Key Points
- Bonheur ASA (FRA:V7P) reported an increase in operating revenues to NOK3.6 billion, up NOK400 million compared to the same quarter last year.
- The company achieved a significant EBITDA improvement, rising from NOK800 million to NOK938 million.
- Net result after tax doubled from NOK172 million to NOK350 million, indicating strong financial performance.
- The company won two power contracts in the CFD allocation round six, enabling the construction of Crystal Rig 4 and potentially Windy Standard 3.
- Bonheur ASA (FRA:V7P) has a strong equity ratio of close to 76% and a cash position of NOK2 billion at the end of the third quarter.
- Asset utilization was not at 100%, with one major wind farm out of operation due to a fire and one vessel in the yard, affecting overall performance.
- Cruise line utilization remains low at 78%, which is below expectations for the peak season.
- The company faced significant unrealized losses on financial instruments, impacting net finance negatively.
- Mid Hill wind farm was out of production for the full quarter due to a transformer failure, affecting power generation.
- The Codling Wind Park project faces uncertainty in the consent determination period, with no specific deadline for government review.
Good morning, and welcome to the third-quarter presentation for Bonheur. My name is Anette Olsen, and I am the CEO. As usual, our CFO, Richard Olav Aa from Fred Olson & Company, will present. And in addition, we have the CEOs for the subsidiaries that each will have their presentation. At the end, we will open for a question-and answer-session.
So go ahead, Richard.
Thank you, Anette, and also a hearty welcome for me to this third quarter presentation. Before we go into the numbers, the quarter has been an ok quarter with improvements across all business lines. And also, all the major companies are making a healthy EBIT profit. That being said, we also have a quarter where the asset utilization is not at 100%. We have one big wind farm out due to fire by one of our suppliers. We have one vessels in yard in wind carrier and utilization in cruise lines is still only at 78%. So there is still a lot of potential.
But with that we can go into
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
