Bw Offshore Adr (BWOFY) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.605 -- 00:00:05.351 Good morning and welcome to our update of the fourth quarter as well as the full year 00:00:05.351 -- 00:00:10.438 2025 results of BW Offshore. My name is Marco Bienen, CEO, and 00:00:10.438 -- 00:00:14.403 I'm here together with Stola Andreasen, our CFO. 00:00:14.403 -- 00:00:18.909 As always, at the end of this call, there is the opportunity to raise questions through 00:00:18.909 -- 00:00:20.491 the Q&A 00:00:20.491 -- 00:00:25.417 button, and Stola and I will be happy to address those questions. 00:00:25.417 -- 00:00:28.567 Then please note our disclaimer. 00:00:28.567 -- 00:00:32.549 And then I will start with the highlights. 00:00:32.692 -- 00:00:38.018 We delivered a strong fourth quarter with high uptime and also a strong full year results 00:00:38.018 -- 00:00:43.144 with EBITDA in line with our guidance at 240 million US dollar and then 00:00:43.144 -- 00:00:47.069 annual net profit of 134 million US dollar. 00:00:47.069 -- 00:00:51.214 And based on that, we will pay a cash dividend of 33 00:00:51.214 -- 00:00:55.550 million US dollar in this quarter. 00:00:55.550 -- 00:01:00.738 Commissioning and ramp up of our BWO PAL is progressing with the first 00:01:00.738 -- 00:01:07.349 LNG cargo now delivered from the Darwin LNG facility in late January. 00:01:07.349 -- 00:01:14.160 By 2026 EBITDA guidance is 340 to 317 million US dollar. 00:01:14.160 -- 00:01:19.529 And as communicated in December, we initiated a strategic review and that was a response 00:01:19.529 -- 00:01:22.634 to incoming interest for the company. 00:01:22.634 -- 00:01:28.923 linked to the strong FPSO market outlook and also our strong position within that market. 00:01:28.923 -- 00:01:33.629 I want to emphasize that this is not a situation where we're addr...