Q2 2023 Siem Offshore Inc Earnings Call Transcript
Good day, everyone, and welcome to the review and presentation of our results for the second-quarter 2023. My name is Bernt Omdal, and I'm the CEO of the company. I'm joined by our CFO, Vidar Jerstad, and together, we will take you through this presentation.
Siem Offshore's report for the second-quarter 2023 was released prior to the market opening today. In this presentation, we will cover the main highlights of the report, and we will refer to the presentation issued together with the financial report. At the end of the presentation, we will open up for questions.
Looking at the highlights for the quarter, we had 28 vessels in operation, and all vessels delivered at positive EBITDA margin. We had close to $89 million in revenue, and we delivered $45.9 million in EBITDA, which is equivalent to 52% EBITDA margin. Last year, the same number was 43%. Our cash position was $109 million at the end of the quarter, and our book equity ratio was 39%. Operating profit increased by 84% compared to last year.
We continued to deliver safe and
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