Odfjell Technology Ltd. · OSL:OTL
Odfjell Technology — Q3 2022 Earnings Presentation
20 slides from Odfjell Technology's earnings presentation, Nov 28, 2022
Slide 1: Odfjell Technology Quarterly Presentation Q3 2022
Odfjell Technology Quarterly Presentation Q3 2022 28.11.2022
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 Segment reporting
• Odfjell Technology at a glance • Key highlights of the quarter • Segment reporting • Market outlook • Financial information • Summary 28.11.2022
Slide 4: Odfjell Technology at a glance
OTL Q3 PRESENT ATION Odfjell Technology at a glance Development key financials Revenue (NOKm) Cash (NOKm) 423 411 922 995 753 International technology and engineering company delivering specialist services, equipment and competence across the offshore Q3 21 Q2 22 Q3 22 Q2 22 Q3 22 energy value chain
Slide 5: Key highlights of the quarter
Key highlights of the quarter 5
Slide 6: Key highlights of the quarter
OTL Q3 PRESENT ATION Key highlights of the quarter Financial performance • Strong quarter capitalizing on improved contract portfolio and high activity • Revenue increase of 8% from Q2 to Q3 and year-on-year increase of 32% • EBITDA growth of 11% from Q2 to Q3 and year-on-year improvement of 86% • R
Slide 7: Segment reporting
" Sodfjell technology Segment reporting
Slide 8: Well services
OTL Q3 PRESENT ATION Well services Quarterly performance (NOKm) Breakdown of operations ● Continued strong financial performance across all regions ● Improvement from Q2 to Q3 mainly caused by Wired Drill Pipe contract with Aker BP commencing and a full quarter of operations with Deepsea Aberdeen fo
Slide 9: Drilling Operations
OTL Q3 PRESENT ATION Drilling Operations Quarterly performance (NOKm) Highlights ● Stable operational and financial performance ● Increase in incentive payments ● Lower sick leave costs ● Start of Linus management on September 30th, 2022 ● Contract conditions in contract portfolio safeguards margins
Slide 10: Drilling Operations Contract Overview
OTL Q3 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 11: Engineering
OTL Q3 PRESENT ATION Engineering Quarterly performance (NOKm) Highlights ● High tender activity ● The increase in revenue is mainly explained by increased volume and utilisation compared to the same quarter last year. Yard stay activities with high volumes in the current quarter. ● Strategic focus o
Slide 12: Market outlook
" Sodfjell technology Market outlook 12
Slide 13: Key market outlook
OTL Q3 PRESENT ATION Key market outlook Overall Drilling 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 ▪
Slide 14: Financial information
" Sodfjell technology Financial information 14
Slide 15: Summary Financials
OTL Q3 PRESENT ATION Summary Financials Condensed Consolidated income statement P&L (NOKm) Q3 22 Q2 22 Q3 21 * YTD 22 YTD 21 * FY 21 * Comments Operating revenue 995,5 922,2 752,7 2 753,9 2 120,5 2 948,2 Other gains and losses 1,1 3,1 3,2 9,1 5,4 6,0 ● 2021 are predecessor combined financial figures
Slide 16: Summary statement of financial position
OTL Q3 PRESENT ATION Summary statement of financial position Balance sheet Assets (NOKm) 30.09.2022 30.09.2021* 31.12.2021* Equity and liabilities 30.09.2022 30.09.2021* 31.12.2021* Property, plant and equipment 1 153,6 655,6 887,4 Paid-in capital 1 093,8 - 0,1 Intangible assets 242,5 214,2 218,1 Ot
Slide 17: Summary statement of cash flow
OTL Q3 PRESENT ATION Summary statement of cash flow Cash flow Cash flow (NOKm) Q3 22 Q3 21 * YTD 22 * YTD 21 * Comments Profit/(loss) before tax 48,0 24,5 117,5 55,3 Adjustment for provisions and other non-cash elements 131,8 75,8 341,2 223,1 ● YTD 22 cash flow from investing and financing activitie
Slide 18: Summary
" Sodfjell technology Summary 18
Slide 19: Summary Q3 2022 and outlook
OTL Q3 PRESENT ATION Summary Q3 2022 and outlook • Another quarter with significant revenue and margin growth • Good cash situation with expected further improvements in Q4 • On track to pay dividend in Q2 2023 • Positive market outlook for all segments with particular growth potential in Well Servi
Slide 20: * sodfjell
* sodfjell _ technology 28.11.2022