Odfjell Technology Ltd. · OSL:OTL
Odfjell Technology — Q2 2023 Earnings Presentation
18 slides from Odfjell Technology's earnings presentation, Aug 23, 2023
Slide 1: Odfjell Technology Quarterly Presentation Q2 2023
Odfjell Technology Quarterly Presentation Q2 2023 23.08.2023
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: Agenda
• Highlights of the quarter and key financials • Market outlook • Segment reporting • Financial information • Summary • Appendix 23.08.2023
Slide 4: Highlights and key financials
OTL 2023 Q2 Highlights and key financials Key highlights of the quarter Development key financials Revenue (NOKm) Cash (NOKm) • Substantial revenue and EBITDA growth both compared to previous 1 145 1 259 598 618 922 quarter and same quarter previous year 411 • Strengthened cash position Q2 22 Q1 23
Slide 5: Market outlook
" Sodfjell technology Market outlook
Slide 6: Market outlook
OTL 2023 Q2 Market outlook Overall Operations ▪ Positive outlook in all our markets indicating a cycle upturn ▪ Stable and predictable market outlook driven by demand and oil price ▪ Possibilities in new markets ▪ Upturn expected to last for number of years ▪ Opportunities to expand through integrat
Slide 7: Business Area reporting
" Sodfjell technology Business Area reporting
Slide 8: Business Area highlights
OTL 2023 Q2 Business Area highlights Well Services Operations Projects & Engineering 3.6NOKbn 4.5NOKbn 7.1NOKbn 16 475NOKm 90% Backlog Cost price Backlog Platforms Backlog Utilisation (people-hours) equipment pool ● Growth continues in all regions with a ● Stable operations and activity level in Q2
Slide 9: Financial information
" Sodfjell technology Financial information
Slide 10: Financial Performance
OTL 2023 Q2 Financial Performance Comments • Revenue growth of 10% compared with previous quarter and 37% compared to Q2 2022 exemplifies strong market, improved contract portfolio and operational performance • EBITDA improved 10% (19m) compared to previous quarter and 25% (42m) compared to same qua
Slide 11: Financial Performance by Business Area
OTL 2023 Q2 Financial Performance by Business Area • Revenue growth continues with a 12% improvement • Revenue up 9% compared to Q1 and 25% up compared to • Revenue improved 17% compared to Q1 and 140% compared to previous quarter and 33% improvement Q2 2022. Improvement in revenue mainly due to hig
Slide 12: Summary
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Slide 13: Summary
OTL 2023 Q2 Summary • Continuing robust growth, and a milestone has been broken by delivering EBITDA above NOK 200m for the first time • Growth plan established • Targeting margin expansion through new business improvement program • Strong cash flow and cash position • Solid debt structure and lever
Slide 14: Appendix
" Sodfjell technology Appendix 14
Slide 15: Summary Financials
OTL 2023 Q2 Summary Financials Condensed Consolidated income statement P&L (NOKm) Q2 23 Q1 23 Q2 22 YTD 23 FY 22 Comments Operating revenue 1 259,2 1 145,5 922,2 2 404,7 3 885,0 Other gains and losses 1,0 1,8 3,1 2,8 13,6 ● Please refer to the Quarterly report for further details Personnel expenses
Slide 16: Summary statement of financial position
OTL 2023 Q2 Summary statement of financial position Balance sheet NOK million 30.06.2023 30.06.2022 31.12.2022 NOK million 30.06.2023 30.06.2022 31.12.2022 Assets Equity and liabilities Property, plant and equipment 1 093,4 1 065,2 1 068,4 Paid-in capital 1 093,8 1 093,8 1 093,8 Intangible assets 25
Slide 17: Summary statement of cash flow
OTL 2023 Q2 Summary statement of cash flow Cash flow Cash flow (NOKm) Q2 23 Q1 23 YTD 23 FY 22 Comments Profit/(loss) before tax 78,2 52,6 130,8 226,2 Adjustment for provisions and other non-cash elements 138,3 135,5 273,8 438,9 ● Full year 2022 cash flow from investing and financing activities are
Slide 18: For further information, please contact
For further information , please contact Gert Haugland, SVP Finance and Investor Relations gjha@odfjelltechnology.com www.odfjelltechnology.com 23.08.2023