Aker Bp Asa Ord (AKRBF) Q1 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.659 Good morning and welcome to AKBP's first quarter 2025 presentation. 00:00:05.659 -- 00:00:10.846 As usual, I'll start with a brief update together with our CFO, David Turner, before 00:00:10.846 -- 00:00:17.753 we open for questions. But first, I want to take a moment to look at the bigger picture. 00:00:17.976 -- 00:00:22.382 We are operating in an alignment marked by increased uncertainty. 00:00:22.382 -- 00:00:27.669 Armed conflicts are ongoing and political tensions have created uncertainty around 00:00:27.669 -- 00:00:32.973 the framework for international trade. This, in turn, is fueling concerns 00:00:32.973 -- 00:00:37.503 about the global economy and the outlook for energy demand. 00:00:37.503 -- 00:00:42.674 At the same time, we are seeing significant currency swings and heightened financial 00:00:42.674 -- 00:00:44.538 market volatility. 00:00:44.538 -- 00:00:49.897 It is in the midst of this that AKBP remains in a strong position. 00:00:49.897 -- 00:00:54.184 We have a robust balance sheet with high financial flexibility, 00:00:54.184 -- 00:00:59.312 industry-leading low operating costs, and we are investing in projects that are highly 00:00:59.312 -- 00:01:03.279 profitable and resilient to low oil prices. 00:01:03.279 -- 00:01:07.626 We have secured most of our foreign exchange exposure for the next two to three years 00:01:07.626 -- 00:01:13.175 at attractive levels, and we are to a very limited degree impacted 00:01:13.175 -- 00:01:16.778 by the turmoil around tariffs and trade. 00:01:16.778 -- 00:01:21.385 This puts us in a position to stay focused on what really matters. 00:01:21.385 -- 00:01:26.652 Running our business efficiently, investing with discipline, and creating long-term value 00:01:26.652 -- 00:01:31.2...