BW Energy Ltd (CHIX:BWEo)

kr 24.525 0 (0%) Market Cap: 6.10 Bil Enterprise Value: 11.29 Bil PE Ratio: 4.04 PB Ratio: 0.76 GF Score: 63/100

Q2 2024 BW Energy Ltd Earnings Call Transcript

Aug 29, 2024 / 12:00PM GMT

Release Date Price: kr30.95

Transcript

Carl Arnet

BW Energy Ltd - Chief Executive Officer

Thank you, operator. A warm welcome to the second quarter 2024 presentation by BW Energy. This presentation will be hosted by Lin Espey, our COO; as well as our new CFO, Brice Morlot, and welcome to you, Brice, on this forum. We'll jump straight into the presentation. Please note our disclaimer. And then on to the first half of 2024 and the highlights from the first half.

Our net production increased by 130% year-on-year and came in at 25,500 barrels per day. Our revenue increased by 104% year-on-year and came in at $346.2 million, and our OpEx reduced by 25% year-on-year and came in at $32 million. The EBITDA increased by 143% year-on-year and came in at $185.6 million. Net income was up by 200 times and came in at $61.9 million from a very low result in the first half of 2023 and the operating cash flow came in at $85.1 million, which is up 19% year-on-year.

So that was the result compared to 2023. Then on to the second quarter highlights. We had a net production in the second quarter of 23.6 barrels per day, and this was after

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