Odfjell Se B (ODJBF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to the presentation of Oddshell's results for the first quarter of 2025. This presentation will follow a standard agenda. I will take you through the highlights and our CFO Terje Iversen will present the financials. And then I will conclude this presentation with an operational review and a market update and prospects going forward. So turning to the highlights, we continued our strong performance on safety with high operational efficiency and no significant incidents during the quarter. All our safety and operational KPIs were well within the requirements that we have defined. We delivered resilient financial results in the first quarter in a market that is characterized by increased uncertainty due to the announced trade tariffs from the USA. Our time chart earnings ended at 168 million and this compares to 183 million for the fourth quarter of last year. The time chart earnings per day for the quarter was 29,556 US dollars and this is down 4% compared to the 30,744 US dollars that we delivered last quarter. Our EBIT was 54 million US dollars and this compares to 68 million US dollars in the fourth quarter. Our quarterly net result was 34 million US dollars and adjusted for one of items we ended at 33 million US dollars and this compares to 53 million US dollars in the fourth quarter of 2024. The net result contribution from odd field terminals was 2.9 million and this is slightly up from the fourth quarter. I'm also happy to say that once again we reduced our carbon intensity, the so-called AER, and in the first quarter we delivered 7.0, which is a further improvement from the previous quarter and a new record low for Oddfjell. We are also proud that Boa Olympus in April completed the first near carbon neutral transatlantic voyage...