Odfjell Technology Ltd (ODTLF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Altiel Technology's Q1 presentation. My name is Gert Haugland. I'm the SVP for Finance and Investor Relations in Altiel Technology. I'm joined by our CEO, Simon Leung, and our CFO, Eirik Lutzen. Today's presentation is available on our website, and please take notice of the disclaimer on page two. Simon will cover the key highlights and market outlook, backlog and dividend, and I will thereafter go through the financials before we open for a Q&A session. You can submit your questions through the webcast portal or by using the dial-in numbers. Over to you, Simon. Thank you, Gert. And welcome to the call. Let me start with the highlights of the quarter. In March, we closed the acquisition of Casium and Razor. to technology and service companies providing proprietary wireline intervention and P&A plug abandonment tools and services. This established over intervention and plug abandonment platform. A scalable footprint in a part of the market with the strong structural drivers. We secured a 5.5 year contract on EcoFISC with ConocoPhillips recently. This adds material to our firm backlog. We have also established an alliance with Halliburton in Norway to complete our offerings within intervention and service. I will come back to that somewhat a little later. Last week, we also secured a three-year contract with Enquest in the UK for platform dealing on the Magnus field. Operations are expected to begin third quarter this year. This also gives us an opportunity to add on type of rail services, engineering services, modifications services, and so on, on top of the platform for drilling activities. So these wins are important to build our backlog. On the financing side, we completed a NOK 600 million bond tap at 225 basis points, and we paid the drawn portion over...