Odfjell Technology Ltd. · OSL:OTL
Odfjell Technology — Q1 2023 Earnings Presentation
21 slides from Odfjell Technology's earnings presentation, May 12, 2023
Slide 1: Odfjell Technology Quarterly Presentation Q1 2023
Odfjell Technology Quarterly Presentation Q1 2023 12.05.2023
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 businesses and key
• Odfjell Technology businesses and key financials • Key highlights of the quarter • Market outlook • Segment reporting • Financial information • Summary • Appendix 12.05.2023
Slide 4: Odfjell Technology Businesses & Key Financials
OTL 2023 Q1 Odfjell Technology Businesses & Key Financials Development key financials Revenue (NOKm) Cash (NOKm) 1131 1145 598 560 836 429 International technology and engineering company delivering specialist services, equipment and competence across the offshore Q1 22 Q4 22 Q1 23 Q1 22 Q4 22 Q1 23
Slide 5: Key highlights of the quarter
Key highlights of the quarter 5
Slide 6: Key highlights of the quarter
OTL 2023 Q1 Key highlights of the quarter • Operations were carried out safely with no serious incidents in the first three months of 2023 • High activity level and in line with Q4 2022 for all business areas • Seasonal effect less significant than previous years • Strong operational performance • O
Slide 7: Market outlook
" Sodfjell technology Market outlook
Slide 8: Key market outlook
OTL 2023 Q1 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 ▪ Opportunities to
Slide 9: Business Area reporting
" Sodfjell technology Business Area reporting
Slide 10: Business Area highlights
OTL 2023 Q1 Business Area highlights Well Services Operations Projects & Engineering 3.8NOKbn 4.2NOKbn 6.8NOKbn 16 525NOKm 93% Backlog Cost price Backlog Platforms Backlog Utilisation (people-hours) equipment pool ● Backlog growth through contract wins in ● Stable operations and activity level in Q1
Slide 11: Financial information
" Sodfjell technology Financial information 11
Slide 12: Financial Performance
OTL 2023 Q1 Financial Performance Comments • Revenue in line with previous quarter and 37% up compared to Q1 2022 exemplifies strong market, improved contract portfolio and lower seasonal effects than normal • EBITDA is 4m lower than previous quarter while 75m higher compared to same quarter last ye
Slide 13: Financial Performance by Business Area
OTL 2023 Q1 Financial Performance by Business Area • Revenue growth continues with a 5% improvement • Stable operations and activity level in Q1 2023 • High activity mainly driven by yard stay activities on compared to previous quarter and 37% Deepsea Mira and Hercules and modification work • Revenu
Slide 14: Summary
" Sodfjell technology Summary 14
Slide 15: Summary
OTL 2023 Q1 Summary • Strong financial and operational performance in a quarter which normally is challenging • Cash and debt situation remains solid. Our focus will be on working capital improvements to further improve the cash balance • Positive market outlook for all segments with Well Services b
Slide 16: Q&A
" Sodfjell technology Q&A 16
Slide 17: For further information, please contact
For further information , please contact Gert Haugland, SVP Finance and Investor Relations gjha@odfjelltechnology.com www.odfjelltechnology.com 12.05.2023
Slide 18: Appendix
" Sodfjell technology Appendix 18
Slide 19: Summary Financials
OTL 2023 Q1 Summary Financials Condensed Consolidated income statement P&L (NOKm) Q1 23 Q4 22 Q1 22 YTD 23 FY 22 Operating revenue 1 145, 5 1 131, 0 836, 2 1 145, 5 3 885, 0 ● Please refer to the Quarterly report for further details Other gains and losses 1,8 4,4 5,0 1,8 13,6 Personnel expenses (699
Slide 20: Summary statement of financial position
OTL 2023 Q1 Summary statement of financial position Balance sheet Assets (NOKm) 31.03.2023 31.12.2023 31.03.2022 Equity and liabilities (NOKm) 31.03.2023 31.12.2023 31.03.2022 Intangible assets 258,4 252,1 228,2 Share capital 3,5 3,5 3,5 Deferred tax asset 61,6 15,7 15,3 Other contributed capital 1
Slide 21: Summary statement of cash flow
OTL 2023 Q1 Summary statement of cash flow Cash flow Cash flow (NOKm) Q1 23 Q4 22 YTD 23 FY 22 Comments Profit/(loss) before tax 52,6 108,7 52,6 226,2 Adjustment for provisions and other non-cash elements 135,5 97,7 135,5 438,9 ● Full year 2022 cash flow from investing and financing activities are g