Odfjell Se B (ODJBF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

presentation of Oddfjells fourth quarter and preliminary full year presentation, this time in front of a live audience here in Oslo. The agenda follows, I would say, a traditional pattern. I will go quickly through the highlights, and then I will give the word to Terje Iversen, who will take you through the financials. And I will continue with an operational review of the quarter behind us. And we will conclude this presentation with a market update and our prospects going forward. So then if we turn to the highlights, I'm first and foremost very proud on behalf of all my colleagues to conclude a 2024 that was the best financial year in Oddfjells 110 year long history. This financial performance comes at the back of a very strong safety performance and also a year with high operational efficiency and no serious incidents during the year. We delivered a solid financial result also in the fourth quarter in line with the fourth quarter of 2023, but slightly below the record high three first quarters of 2024. Time charter earnings in Oddfield Tankers ended at 183 million. This compares to $202 million in the third quarter. And this is a decline of approximately 10%. EBIT, 68 million. This compares to 91 million in the third quarter. And we delivered a quarterly net result of 51 million US dollars. And adjusted for one of items, we had 53 million. That compares to 71 million in the third quarter. The net result contribution from Oldfield Terminals was 2.2 million US dollars. This is slightly below the third quarter and is mainly due to currency effects and one right down. We continue to deliver on our carbon intensity. The AER for the fourth quarter came in at 7.1, which is also the average for the 2024 year in total. And also during the quarter, we took one new building,...