Fjord Defence Group Asa · OSL:DFENS
Fjord Defence Group Asa — Aquila Holdings — Q4 2024 Earnings Presentation
13 slides from Fjord Defence Group Asa's earnings presentation, Feb 20, 2025
Slide 1: Presentation Q4 2024
19.02.2025 Presentation Q4 2024 20 February 2025
Slide 2: Disclaimer
page 2 Disclaimer • The information in this presentation has been prepared by Aquila Holdings ASA (the “Company”). By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations and provisions: • This presentation h
Slide 3: Quarterly highlights
page 3 Quarterly highlights Fair value of multi-client library USD 22.0 million Fair value of investment portfolio USD 4.3 million Available liquid funds of USD 5.0 million* Reduction in tax liability in Egypt of USD 2.8 million due to mainly currency gain Cash earnings (loss) for the quar
Slide 4: Subsequent events
page 4 Subsequent events All shares in Arbaflame was sold with settlement end January 2025. The net proceeds from the sale was NOK 4.5M, representing a gain of NOK 1.25M compared to the book value of NOK 3.25M per the Q3 2024 earnings release.
Slide 5: Multi-client portfolio
page 5 Multi-client portfolio Utsira North Sea Gulf of Suez • Industry-funded Utsira reprocessing project with Viridien (formerly known as CGG) and TGS • Sales initiatives and client discussions ongoing Sett inn bilde Sett inn bilde • Expect to see sales in the first half of 2025 • Impairment of USD
Slide 6: Financial assets
page 6 Financial assets Ocean bottom node operations sold to TGS (Magseis Fairfield) in March 2022 Earnout structure with cap of USD 12.0 million over three years Year-three floor payment of USD 1.5 million, subject to certain milestones No associated costs for Aquila Booked value of finan
Slide 7: Investments
page 7 Investments Selected investments in listed and unlisted securities Fair value of investment portfolio USD 4.3 million at end Q4 2024 Capsol Technologies USD 3.9 million Based on increased adoption of Capsol’s carbon capture technology and positive market developments, especially in th
Slide 8: Net asset value
page 8 Net asset value Multi-client library valued at NOK 1.16 per share (book value USD 22.0 million) Other seismic assets NOK 0.07 per share (book value USD 1.3 million) Investments based on market trading prices constituting NOK 0.23 per share (book value USD 4.3 million)
Slide 9: Comprehensive income
page 9 Comprehensive income USD millions Comprehensive income Q4 2024 Q4 2023 • Cost of sales primarily related to Utsira Revenue - 1.7 Changes in fair value of investments (loss) (0.9) 0.0 reprocessing costs Other gains and (losses) (0.2) (1.0) • SG&A cost impacted by one-off costs Cost of sales 0.
Slide 10: Financial position
page 10 Financial position USD millions Assets 31.12.2024 31.12.2023 • Seismic investments representing Multi-client library 22.0 31.1 approximately 81% of total assets Investments 4.3 6.6 Financial assets 1.3 2.0 • No financial indebtedness Trade receivables - 1 • Equity ratio 94.0% Other current a
Slide 11: Cash flow
page 11 Cash flow USD millions Cash flow Q4 2024 Q4 2023 Profit (loss) before tax (4.7) (3.3) Amortization and net impairment 4.2 1.6 Changes in fair value of investments 0.9 (0.0) Changes in other gains (losses) 0.2 1.0 Other working capital changes (1.3) 0.5 Cash flow from operating activities (0.
Slide 12: Outlook
page 12 Outlook Oil prices to stay in the higher historical range as demand continues to grow Exploration activity will continue – both near-field as well as new prospects Economic uncertainty in Egypt remains, but situation appears to be improving Multi-client late sales remains lumpy and u
Slide 13: OBN multi-client library and investments
Askekroken 11 aquilaholdings.no OBN multi-client library 0277 Oslo copyright © 2023 and investments. Norway Aquila Holdings