Bonheur Asa (BNHUF) Q3 2025 Earnings Call

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WEBVTT 00:00:00.149 -- 00:00:07.016 Good morning, everybody, and welcome to this third quarter 2025 00:00:07.820 -- 00:00:09.820 presentation. 00:00:09.883 -- 00:00:15.131 My name is Annette Olsen. I am the CEO of Bonner 00:00:15.131 -- 00:00:18.716 and Fred Olsen & Co. 00:00:18.716 -- 00:00:21.881 As usual today, Richard 00:00:21.881 -- 00:00:27.509 Olavo, our CFO, will start the presentation 00:00:27.509 -- 00:00:33.460 going through the main figures. And then the different 00:00:33.460 -- 00:00:38.528 CEOs for the individual companies will present to 00:00:38.528 -- 00:00:44.418 you. And we will take questions and answers at the end. 00:00:44.418 -- 00:00:50.247 Today, we have Samantha Stimson with us, 00:00:50.247 -- 00:00:52.370 the CEO 00:00:52.370 -- 00:00:58.385 for Fred Olsen Cruise Lines. So she will also present to you. 00:00:58.385 -- 00:01:02.051 So welcome, Richard, I give the word to you. 00:01:02.051 -- 00:01:07.180 Yes, thank you, Anette, and also a hearty welcome from me 00:01:07.180 -- 00:01:10.382 to this third quarter presentation. 00:01:10.886 -- 00:01:15.013 Before we go into the numbers, I would like to give some reflections on the report. 00:01:15.013 -- 00:01:20.102 I think the Bonheur Group of Companies deliver a solid set of numbers this 00:01:20.102 -- 00:01:25.229 quarter. But we can also say that there are room for improvements in the numbers. 00:01:25.229 -- 00:01:30.457 We see cruise lines improving utilization, but still room 00:01:30.457 -- 00:01:36.027 to grow. We see wind carrier, one vessel at yard, also this quarter. 00:01:36.027 -- 00:01:41.136 And we also see downtime in renewables. So yes, a good set of numbers, but definitely 00:01:41.136 -- 00:01:45.940 more room to grow the earnings on existing assets. 00:01:46.377 -- 00:0...