Slide 1: Odfjell Technology Quarterly Presentation Q1 2022
Odfjell Technology Quarterly Presentation Q1 2022 31.05.2022
Slide 2: Odfjell Technology at a glance Key highlights of the quarter Segment reporting
• Odfjell Technology at a glance • Key highlights of the quarter • Segment reporting • Financial information • Market outlook • Summary 31.05.2022
Slide 3: Odfjell Technology at a glance
OTL Q1 PRESENT ATION Odfjell Technology at a glance Development key financials Revenue (NOKm) Cash (NOKm) 836 429 669 406 International technology and engineering company delivering specialist services, equipment and competence across the offshore Q1 21 Q1 22 Q4 21 Q1 22 energy value chain EBITDA (N
Slide 4: Key highlights of the quarter
Key highlights of the quarter 4
Slide 5: Key highlights of the quarter
OTL Q1 PRESENT ATION Key highlights of the quarter • Financing secured, NOK 1.1 bn bond and USD 25 million super senior revolving credit facility • Successful spin-off and listing • Equinor exercised a 2 year option on the platform drilling contracts for Heidrun and Johan Sverdrup Drilling Platforms
Slide 6: Segment reporting
" Sodfjell technology Segment reporting
Slide 7: Drilling Operations
OTL Q1 PRESENT ATION Drilling Operations Quarterly performance (NOKm) Highlights ● Strong order backlog ● Financial performance in accordance with expectations ● Good operational performance ● Rig management contract secured for West Linus with expected start-up in Q3/Q4 ● Contract conditions in con
Slide 8: Drilling Operations Contract Overview
OTL Q1 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 West Linus UK 3 UK Platforms UK 5 UK Platforms Bruce UK 2019 2020 2021 2022 2023
Slide 9: Engineering
OTL Q1 PRESENT ATION Engineering Quarterly performance (NOKm) Highlights ● Increased activity for operators, Odfjell Oceanwind and ODL (SPS) ● High tender activity ● Financial performance in accordance with expectations ● Resource utilization affected by recruitment process to expand capacity and fl
Slide 10: Well services
OTL Q1 PRESENT ATION Well services Quarterly performance (NOKm) Breakdown of operations ● Strong financial performance in all regions ● Wired Drill Pipe project for Equinor on Johan Sverdrup started early 2022 ● Tubular running service contract secured with Aramco in Saudi Arabia ● Positive market o
Slide 11: Market outlook
" Sodfjell technology Market outlook 11
Slide 12: Key market outlook
OTL Q1 PRESENT ATION Key market outlook Well Services Drilling Operations ▪ Strong oil price and operators required to increase activity is resulting in ▪ Stable and predictable market outlook an improved demand for Well Services products and services ▪ Possibilities in new markets ▪ Opportunities t
Slide 13: Financial information
" Sodfjell technology Financial information 13
Slide 14: Summary Financials
OTL Q1 PRESENT ATION Summary Financials Condensed Consolidated income statement P&L (NOKm) Q1 2022 Q1 2021 FY 21 Comments Operating revenue 836,2 668,6 2 948,2 Other gains and losses 5,0 1,9 6,0 ● 2021 are predecessor combined financial figures Personnel expenses (535,8) (440,9) (1 897,0) ● Q1 2022
Slide 15: Summary statement of financial position
OTL Q1 PRESENT ATION Summary statement of financial position Balance sheet Assets (NOKm) 31.03.2022 31.03.2021* 31.12.2021* Equity and liabilities 31.03.2022 31.03.2021* 31.12.2021* Property, plant and equipment 875,4 639,9 887,4 Paid-in capital 1 093,8 - 0,1 Intangible assets 228,2 213,9 218,1 Othe
Slide 16: Summary statement of cash flow
OTL Q1 PRESENT ATION Summary statement of cash flow Cash flow Cash flow (NOKm) Q1 22 Q1 21 * FY 21 * Q1 22 Q1 21 * FY 21 * Cash flows from operating activities: Cash flows from financing activities: Profit/(loss) before tax 49,7 13,4 102,8 Net change group cash pool receivables and liabilities 1 057
Slide 17: Summary
" Sodfjell technology Summary 17
Slide 18: Summary Q1 2022 and outlook
OTL Q1 PRESENT ATION Summary Q1 2022 and outlook • Successful spin-off and listing • Financial performance in line with expectations • Good cash position • Strong order backlog • Positive market outlook for all segments • Strategy process ongoing 18
Slide 19: " sodfjell
" sodfjell _ technology 31.05.2022
Slide 20: Appendix
" Sodfjell technology Appendix 20