Odfjell Technology Ltd (ODTLF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Fjell Technology's Q2 presentation. My name is Gaf Laugland. I'm the SVP for Finance and Investor Relations in Fjell Technology. I'm joined by our CEO, Simon Leung, and our CFO, Erin Knudsen. Today's presentation is available on our website. Please take notice of the disclaimer on page two. Simon will now cover the key highlights, the market outlook, the backlog, and our capital allocation update. You can submit your questions through the webcast portal or by using the dial-in numbers. I now hand it over to Simon. Thank you, Gert. Welcome to this call. First of all, I would like to say I'm very happy to say that we have record quarterly earnings this quarter. We have earned 243 million EBITDA, a margin of 17.4% compared to 14.8% from previous quarter. It's also the first full quarter with KCM Eraser contributing with 35 million to EBITDA and with adjusted EBITDA excluding acquisitions still up 8% from previous quarters. These are the main drivers for the improvement. That's the KSM Racer contribution. As I said before, we are running an improvement and performance program focusing on performance and cost discipline and OTL in general also has improved over the last quarter. Regarding the market, we signed with Adura Energy, which is a JV between Equinor and Shell, taking care of the assets in the UK offshore sector. We signed an LOI extending one of the largest integrated operations on the Mariner platform. was extended to November 28 with a further two-year option added. This is an extremely important achievement because that's one of the platforms we are really showing the integrated operation and the synergies between the different divisions in OCL and showing that these are building together a value creation for the client. We have a s...