Odfjell Drilling Ltd (ODFJF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning to all of you and welcome to this presentation of Oddfjell's third quarter results. We will follow a standard agenda for this presentation. I will take you through the highlights. My colleague Terje Iversen will present our financial performance and then I will conclude this presentation by an operational review and a market update and prospects. If we then turn to the highlights, we once again delivered a strong safety performance in our third quarter. We had high operational performance and we also saw no significant incidents during the quarter. We are delivering robust financial results and this is in line with what we saw in the second quarter. Our total volumes were slightly up in the third quarter. We saw our contract overfratment volumes going up, and we now have a contract percentage of approximately 56%. At the same time, we also saw that the spot rates continued to decline during the third quarter. Our time charter earnings ended at 173 million, and this compares to 174 million in the previous quarter. The time charter earnings per day was 28,174. This is slightly down from the previous quarter, which ended at $30,306. We deliver an EBIT of 59 million. This is very much in line with what we saw in the second quarter. Our quarterly net result was 43 million, adjusted for one of items. We ended at 42 million, which is again in line with what we saw in the second quarter. The net result contribution from Oddfield Terminals was 2.6 million. This is slightly up from the 1.9 that we saw in the second quarter. And finally, our carbon intensity, the AER for our controlled fleet, remained at 6.8, and this is equal to the record low achievement that we reported after the second quarter. This concludes the highlights, and then I give the words to Terje, ...