Okea ASA (OSL:OKEA)

kr 24.94 -0.32 (-1.27%) Market Cap: 2.59 Bil Enterprise Value: 2.60 Bil PE Ratio: 0 PB Ratio: 3.83 GF Score: 73/100

Q3 2022 Okea ASA Earnings Call Transcript

Oct 26, 2022 / 06:00AM GMT

Release Date Price: kr41.8 (+2.70%)

Transcript

Svein Liknes

OKEA ASA - CEO

Good morning, and welcome to the presentation of the third-quarter results for OKEA for 2022. My name is Svein Liknes. I'm the CEO of OKEA, and together with me today, I have our CFO, Birte Norheim. She will take you through the financial results after I've taken you a bit through the highlights for the quarter and also some details of our assets.

Overall, the third quarter for OKEA has been a very strong quarter. With a lot of volatility in Europe and also around us, the financial results and also operational results have been very strong. So the production, both on Draugen, Gjoa, and Ivar Aasen, has been very good during the quarter, but we are still seeing a more slow ramp-up on Yme compared to what was anticipated and planned.

So I'll get back to that when I speak about Yme in more detail a bit later. On the financial side, we had a record-high operating income and also a record-high EBITDA and very good profit for the quarter. And also, we generated about NOK900 million of cash flow during the quarter.

We've also recognized an impairment of

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