Odfjell Technology Ltd. · OSL:OTL
Odfjell Technology — Q3 2023 Earnings Presentation
18 slides from Odfjell Technology's earnings presentation, Nov 2, 2023
Slide 1: Odfjell Technology Quarterly Presentation Q3 2023
Odfjell Technology Quarterly Presentation Q3 2023 02.11.2023
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 (th
Slide 3: Agenda
• Highlights of the quarter and key financials • Market outlook • Segment reporting • Financial information • Summary • Appendix 02.11.2023
Slide 4: Highlights and key financials
OTL 2023 Q3 Highlights and key financials Key highlights of the quarter Development key financials Revenue (NOKm) Cash (NOKm) • This quarter’s revenue and EBITDA in line with previous quarter with 1 259 1275 618 995 significant improvement compared to 2022 Q3 500 432 • Continued strong momentum for
Slide 5: Market outlook
" Sodfjell technology Market outlook
Slide 6: Market outlook
OTL 2023 Q3 Market outlook Overall Operations ▪ Positive market trends driven by demand and oil price ▪ Stable and predictable market outlook ▪ Upturn expected to last for number of years ▪ Possibilities in new business opportunities ▪ Increased drilling activity globally ▪ Opportunities to expand t
Slide 7: Business Area reporting
" Sodfjell technology Business Area reporting
Slide 8: Business Area highlights
OTL 2023 Q3 Business Area highlights Well Services Operations Projects & Engineering 3.4NOKbn 4.5NOKbn 7.0NOKbn 16 475NOKm 85% Backlog Cost price Backlog Platforms Backlog Utilisation (people-hours) equipment pool ● Strong growth in Q3 due to high activity ● Stable operations and activity level in Q
Slide 9: Financial information
" Sodfjell technology Financial information
Slide 10: Financial Performance
OTL 2023 Q3 Financial Performance Comments • Revenue growth of 1% compared with previous quarter and 28% compared to Q3 2022 exemplifies strong market, improved contract portfolio and operational performance • EBITDA in line with previous quarter and up 13% (24m) compared to same quarter last year •
Slide 11: Financial Performance by Business Area
OTL 2023 Q3 Financial Performance by Business Area • Revenue growth continues with a 6% improvement • Revenue up 1% compared to Q2 and 26% up compared to • Revenue reduced by 14% compared to Q2 while up 54% compared to previous quarter and 25% improvement Q3 2022. Increase in revenue from Q3 2022 to
Slide 12: Summary
" Sodfjell technology Summary 12
Slide 13: Summary
OTL 2023 Q3 Summary • Delivering on strategic plan to grow internationally • Strategically important engineering contract with AkerBP secured in October • High tender activity in all business areas • Solid revenue and EBITDA performance • EBITDA of NOK 814m delivered last 12 months vs full year 2022
Slide 14: For further information, please contact
For further information, please contact Gert Haugland, SVP Finance and Investor Relations gjha@odfjelltechnology.com www.odfjelltechnology.com 02.11.2023
Slide 15: Appendix
" Sodfjell technology Appendix 15
Slide 16: Summary Financials
OTL 2023 Q3 Summary Financials Condensed Consolidated income statement P&L (NOKm) Q3 23 Q2 23 Q3 22 YTD 23 FY 22 Comments Operating revenue 1 275, 1 1 259, 2 995, 5 3 679, 8 3 885, 0 Other gains and losses 9,4 1,0 1,1 12,2 13,6 ● Please refer to the Quarterly report for further details Personnel exp
Slide 17: Summary statement of financial position
OTL 2023 Q3 Summary statement of financial position Balance sheet NOK million 30.09.2023 30.09.2022 31.12.2022 NOK million 30.09.2023 30.09.2022 31.12.2022 Assets Equity and liabilities Property, plant and equipment 1 107,5 1 153,6 1 068,4 Paid-in capital 1 093,8 1 093,8 1 093,8 Intangible assets 25
Slide 18: Summary statement of cash flow
OTL 2023 Q3 Summary statement of cash flow Cash flow Cash flow (NOKm) Q3 23 Q2 23 YTD 23 FY 22 Comments Profit/(loss) before tax 91,4 78,2 222,2 226,2 Adjustment for provisions and other non-cash elements 112,4 138,3 386,1 438,9 ● Full year 2022 cash flow from investing and financing activities are