BlueNord ASA (0HTF) Q2 2025 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.817 Good morning, everyone, and welcome to our results presentation for the second quarter 00:00:03.817 -- 00:00:05.877 of 2025. 00:00:06.120 -- 00:00:09.685 Before we dive into the details and take you through the key highlights of what's been 00:00:09.685 -- 00:00:14.733 another busy quarter for the company, I'd like to briefly take a step back and reflect 00:00:14.733 -- 00:00:19.921 on how far we've come. Firstly, I think it's worth noting that everyone you'll hear 00:00:19.921 -- 00:00:25.446 from today has been with the company since the start of this journey in 2019. 00:00:25.580 -- 00:00:30.908 We've all been a part of shaping the business and importantly, driving it forward. 00:00:30.908 -- 00:00:36.116 And if I look back now to when we adopted the simple, clear theme of focused on delivery 00:00:36.116 -- 00:00:38.099 in 2021, 00:00:38.099 -- 00:00:42.526 I'm pleased to be able to say that is exactly what I think we've done. 00:00:42.526 -- 00:00:47.294 We've kept our base business robust with production declines averaging less than 4% per 00:00:47.294 -- 00:00:52.692 year. We've started up Tyra, witnessing production steadily increase 00:00:52.692 -- 00:00:57.840 as the ramp-up progresses. We've been consistently profitable, underpinned by 00:00:57.840 -- 00:01:03.088 a disciplined hedging programme. We've transformed our capital structure, raising 00:01:03.088 -- 00:01:08.556 over $1.7 billion of debt in the process. And perhaps most importantly 00:01:08.556 -- 00:01:14.606 for our equity investors, we've made tangible the theme of maximising shareholder returns. 00:01:14.606 -- 00:01:19.293 Firstly, just by adopting our inaugural distribution policy. 00:01:19.293 -- 00:01:23.397 and then by starting down the path of delive...