Odfjell Technology Ltd. · OSL:OTL
Odfjell Technology — Q4 2022 Earnings Presentation
24 slides from Odfjell Technology's earnings presentation, Feb 17, 2023
Slide 1: Odfjell Technology Quarterly Presentation Q4 2022
Odfjell Technology Quarterly Presentation Q4 2022 17.02.2023
Slide 2: Important Notice
Important Notice By reading this company presentation (the “Presentation”), or attending any meeting or presentation held in relation there to, you (the “Recipient”) agree to be bound by the following terms, conditions and limitations. The Presentation has been prepared by Odfjell Technology Ltd. (t
Slide 3: Odfjell Technology at a glance Key highlights of the quarter Market outlook
• Odfjell Technology at a glance • Key highlights of the quarter • Market outlook • Strategy • Segment reporting • Financial information • Summary • Appendix 17.02.2023
Slide 4: Odfjell Technology at a glance
OTL Q4 PRESENT ATION Odfjell Technology at a glance Development key financials Revenue (NOKm) Cash (NOKm) 560 1131 995 828 432 411 International technology and engineering company delivering specialist services, equipment and competence across the offshore Q4 21 Q3 22 Q4 22 Q2 22 Q3 22 Q4 22 energy
Slide 5: Key highlights of the quarter and year
Key highlights of the quarter and year 5
Slide 6: Key highlights of the quarter and full year
OTL Q4 PRESENT ATION Key highlights of the quarter and full year • Concluding the year with another strong quarterly performance • High activity level in all business areas • Strong operational efficiency • Order backlog stable • High tender activity • Expected dividend distribution in 2023 • Operat
Slide 7: Market outlook
" Sodfjell technology Market outlook
Slide 8: Key market outlook
OTL Q4 PRESENT ATION Key market outlook Overall Operations ▪ Positive outlook in all our markets indicating a cycle upturn driven by ▪ Stable and predictable market outlook demand and pricing ▪ Possibilities in new markets ▪ Increased number of active rigs and drilling operations globally ▪ Opportun
Slide 9: Strategy update
" Sodfjell technology Strategy update
Slide 10: Strategy update
OTL Q4 PRESENT ATION Strategy update Short term: • Grow the business organic and through M&A activities, capitalise on the strong energy cycle • Develop new product lines focusing on P&A and new energy • Overall strategy aimed at delivering strong cash flow and dividend to the shareholders Long term
Slide 11: Business Area reporting
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Slide 12: Business Area highlights
OTL Q4 PRESENT ATION Business Area highlights Well Services Operations Projects & Engineering 3,3NOKbn 4,1NOKbn 7,2NOKbn 16 519NOKm 92% Backlog Cost price Backlog Platforms Backlog Utilisation (people-hours) equipment pool ● Activity level remains strong ● Stable operations and activity level in Q4
Slide 13: Financial information
" Sodfjell technology Financial information 13
Slide 14: Financial Performance
OTL Q4 PRESENT ATION Financial Performance Comments Key Figures Group Total Q4 22 Q3 22 Q4 21* FY 22 FY 21 * • Revenue increase of 14% from Q3 to Q4 and year-on-year increase of 37% Operating revenue 1 131 995 828 3 885 2 948 • EBITDA growth of 5% from Q3 to Q4 and year-on-year improvement of 54% EB
Slide 15: Financial Performance by Business Area
OTL Q4 PRESENT ATION Financial Performance by Business Area Well Services Operations Projects & Engineering • Activity level in line with previous quarter • Stable operations and activity level in Q4 • Revenue growth mainly due to increased volume • and utilisation compared to previous quarter and P
Slide 16: Historical Revenue and EBITDA by Business Area
OTL Q4 PRESENT ATION Historical Revenue and EBITDA by Business Area
Slide 17: Summary
" Sodfjell technology Summary 17
Slide 18: Summary
OTL Q4 PRESENT ATION Summary • Concluded the year with growth in revenue and margin • Good cash situation ; improved from Q3 • Expected dividend payment in 2023 is 100mNOK • Positive market outlook for all segments with particular growth potential in Well Services • Strong contract portfolio combine
Slide 19: Appendix
" Sodfjell technology Appendix 19
Slide 20: Summary Financials
OTL Q4 PRESENT ATION Summary Financials Condensed Consolidated income statement P&L (NOKm) Q4 22 Q3 22 Q4 21* FY 22 FY 21 * Comments Operating revenue 1 131,0 995,5 827,7 3 885,0 2 948,2 Other gains and losses 4,4 1,1 0,7 13,6 6,0 ● 2021 are predecessor combined financial figures Personnel expenses
Slide 21: Summary statement of financial position
OTL Q4 PRESENT ATION Summary statement of financial position Balance sheet Assets (NOKm) 31.12.2022 31.12.2021* 01.01.2021* Equity and liabilities 31.12.2022 31.12.2021* 01.01.2021* Property, plant and equipment 1 068,4 887,4 662,0 Paid-in capital 1 093,8 0,1 - Intangible assets 252,1 218,1 215,5 Ot
Slide 22: Summary statement of cash flow
OTL Q4 PRESENT ATION Summary statement of cash flow Cash flow Cash flow (NOKm) Q4 22 Q4 21 * FY 22 FY 21 * Comments Profit/(loss) before tax 108,7 47,5 226,2 102,8 Adjustment for provisions and other non-cash elements 97,7 76,9 438,9 300,0 ● YTD 22 cash flow from investing and financing activities a
Slide 23: Drilling Operations Contract Overview
OTL Q4 PRESENT ATION Drilling Operations Contract Overview Breakdown of operations Client Location Platform Duration Norway Heidrun Norway Johan Sverdrup UK Mariner Norway Brage 3 Platforms Norway (Ekofisk field) Norway Linus UK 3 UK Platforms UK 5 UK Platforms Bruce UK 2019 2020 2021 2022 2023 2024
Slide 24: For further information, please contact
For further information , please contact Gert Haugland, SVP Finance and Investor Relations gjha@odfjelltechnology.com www.odfjelltechnology.com 17.02.2023