Newmed Energy Ltd (DKDRF) Q1 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.637 -- 00:00:03.018 Thank you very much. Good afternoon for everybody. 00:00:03.018 -- 00:00:08.120 Thank you for participating in this Zoom to review our 00:00:08.120 -- 00:00:12.482 financial results for Q1 2026. 00:00:12.482 -- 00:00:14.482 And 00:00:14.963 -- 00:00:20.626 as you know, in Q1 we had around a month of basically 00:00:20.626 -- 00:00:23.587 closure of Leviathan platform. 00:00:23.587 -- 00:00:27.009 So that affected our income, 00:00:27.009 -- 00:00:31.430 EBITDA and net profit for Q1. 00:00:31.482 -- 00:00:33.463 together with 00:00:33.463 -- 00:00:37.085 the Bulgarian Home Well. 00:00:37.085 -- 00:00:42.087 It's basically provided us with $80,000, $97 million in net 00:00:42.087 -- 00:00:46.530 profit, which is basically zero for this quarter. 00:00:46.530 -- 00:00:51.993 But our agreement, the GSPA for the region, are plenty, 00:00:51.993 -- 00:00:57.836 deeply related. And the price for this month is an average 00:00:57.836 -- 00:01:02.936 price of the last three months. So basically, what we are seeing, PEP4 00:01:02.936 -- 00:01:06.597 for this year, taking into 00:01:06.597 -- 00:01:12.019 consideration the current rent prices, practically taking $90 rent 00:01:12.019 -- 00:01:17.301 until the end of the year. What we are seeing is an upside 00:01:17.301 -- 00:01:22.723 of $330 million in income, vis-a-vis our initial forecast. 00:01:22.723 -- 00:01:25.004 So if we reduce 00:01:25.004 -- 00:01:29.130 what we lost these 33 days, 00:01:29.130 -- 00:01:34.755 of shutdown, and we take into consideration what we are seeing already 00:01:34.755 -- 00:01:39.800 in prices in the market, so that will bring us to a better 00:01:39.800 -- 00:01:45.365 situation for this year. As I mentioned, $230 million upside 00:01:45.365 -- 00:01:48.90...