Odfjell Technology Ltd. · OSL:OTL
Odfjell Technology — Q4 2024 Earnings Presentation
24 slides from Odfjell Technology's earnings presentation, Feb 14, 2025
Slide 1: Q4 2024 Quarterly Results
Odfjell Technology Investor Presentation Q4 2024 Quarterly Results 13.02.2025
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 • Backlog and market outlook • Financial information • Summary • Appendix 3
Slide 4: Highlights of the quarter and key financials
Highlights of the quarter and key financials 4
Slide 5: Highlights and key financials
Highlights and key financials Steady performance and solid order backlog Revenue (bnNOK) EBITDA (mNOK) 1.45bn 191m Revenue Q4 EBITDA Q4 5.4bnNOK Revenue LTM 825mNOK EBITDA LTM 27m 13.3bn 1.1bn 1.0bn Available Liquidity (mNOK) NIBD / EBITDA Free Cash Flow Q3 Backlog Available liquidity 525mNOK FCF LT
Slide 6: Market outlook
Market outlook Well positioned for growth Market comments Revenue Q4 LTM per geographical market • Expected market improvement in Q3 2025 or ay urope t er countries sia an i le ast rica an mericas • Growth opportunities in the P&A market • Well positioned for growth in existing and Global presence n
Slide 7: Order backlog of 13.3 billion NOK
Order backlog of 13.3 billion NOK Solid backlog and strong revenue visibility driven by successful contract wins Backlog development (bnNOK) Major contracts won last 12 months (mNOK) ptions irm , , , , Customer Contract escription usiness rea otal alue , , , , , , uinor isun an rane perations m , ,
Slide 8: Reelwell – Powered Drill Pipe
Reelwell – Powered Drill Pipe Odfjell Technology and Reelwell strategic cooperation to deploy DualLink technology for enhanced offshore drilling Reelwell An innovative technology company offering the DualLink digital pipe system that integrates real-time telemetry and wellbore power for superior con
Slide 9: Attractive shareholder return through dividends
Attractive shareholder return through dividends Dividend level consistent with last quarter Attractive growth in dividends Foundation for dividend distribution 13% implied annualised direct yield in Q4 m m • Strategic focus on shareholder return NOK share NOK share • Strong annual cash generation •
Slide 10: PIP model
PIP model Continuous focus on Performance and Improvement Program 2025-2027 Purpose Improve financial performance Improve margins Improve competitive edge Program Revenue improvement Cost improvement Cash improvement initiatives and targets initiatives and targets initiatives and targets Framework I
Slide 11: Financial information
*Sodfjell technology Financial information 11
Slide 12: Group financials
Group financials Delivering steady financial performance in line with expectations for the quarter Revenue (mNOK) EBITDA (mNOK) Comments Results current quarter vs same quarter previous year • Revenue growth of 108 million, with higher activity for Operations and ey ures Well Services. peratin reven
Slide 13: Well Services
Well Services Results affected by high pass-through revenue, contract change in Norway and product mix changes Revenue (mNOK) EBITDA (mNOK) , , , Comments Results current quarter vs same quarter previous year • Revenue slightly up due to higher revenue in the Middle East, higher activity on wellbore
Slide 14: Operations
Operations High activity in the quarter – margin affected by costs related to contract closing/ handover Revenue (mNOK) EBITDA (mNOK) Comments Results current quarter vs same quarter previous year • Revenue up 102 million mainly driven by higher activity level in the UK and Norway • EBITDA dropped w
Slide 15: Projects & Engineering
Projects & Engineering Steady performance in the quarter Revenue (mNOK) EBITDA (mNOK) Comments Results current quarter vs same quarter previous year • Revenue dropped by 9 million, mainly driven by project postponements • EBITDA reduction of 5 million due to lower utilisation Results current quarter
Slide 16: 2024 full year cash flow analysis
2024 full year cash flow analysis High financial flexibility 2024 cash flow bridge (mNOK) Comments • General comments ( ) – 81 million improvement in working ( ) capital in Q4 ( ) – 10 million in reduced interest cost ( ) in Q4 – High capex in 2024 due to replacement of equipment and contract wins (
Slide 17: Revenue and EBITDA trailing twelve months (LTM) figures
Revenue and EBITDA trailing twelve months (LTM) figures LTM figures demonstrate consistent revenue growth trend and minor reduction in EBITDA Revenue LTM (mNOK) EBITDA LTM (mNOK) 17
Slide 18: Summary
technology f 1] Summary 18
Slide 19: Key takeaways – Positioned for long-term value creation
Key takeaways – Positioned for long-term value creation • OTL remain focused on its strategic direction • Strong commitment to shareholders with consistent dividend payouts, delivering a high direct yield • Strong cash flow and improved working capital in Q4 • OTL secured a strategic cooperation agr
Slide 20: Appendix
2odfjell technology
Slide 21: Summary income statement
Summary income statement P (m ) peratin revenue t er ains an losses Personnel e penses ( ) ( ) ( ) ( ) ( ) t er operatin e penses ( ) ( ) ( ) ( ) ( ) uste or operational lease epreciation an amortisation ( ) ( ) ( ) ( ) ( ) peratin pro t ( ) are o pro t (loss) rom oint ventures an associates et nanc
Slide 22: Summary Balance Sheet
Summary Balance Sheet ssets (m ) uity an lia ilities (m ) Property, plant an e uipment Pai in capital ntan i le assets t er e uity ( ) e erre ta asset otal e uity on current ta asset on current interest earin orro in s nvestments in oint ventures an associates on current lease lia ilities t er non c
Slide 23: Summary statement of cash flows
Summary statement of cash flows Cas o (m ) Pro t (loss) e ore ta ustment or provisions an ot er non cas elements C an es in or in capital ( ) ( ) Cas enerate rom operations et interest (pai ) receive ( ) ( ) ( ) ( ) ( ) et income ta pai ( ) ( ) ( ) ( ) ( ) et cas o rom operatin activities et cas o r
Slide 24: For further information, please contact
For further information, please contact Gert Haugland, SVP Finance and Investor Relations gjha@odfjelltechnology.com www.odfjelltechnology.com 24