Odfjell SE (OSL:ODF)

kr 114.8 3.4 (3.05%) Market Cap: 9.05 Bil Enterprise Value: 19.50 Bil PE Ratio: 3.09 PB Ratio: 0.96 GF Score: 58/100

Q1 2024 Odfjell SE Earnings Call Transcript

May 08, 2024 / 07:00AM GMT

Release Date Price: kr192 (+9.84%)

Transcript

Harald Fotland

Odfjell SE - Chief Executive Officer

Good morning, everyone, and welcome to the presentation of Odfjell's first quarter results. Before I start, please note that there is a Q&A tab on the right-hand side of your screen, please shoot that tab if you have questions during our presentation.

The agenda follows standard format. I will present the highlights. My colleague, Terje Iversen, will take you through the financial figures, and then I will summarize this presentation with an operational review and market update and prospects.

Odfjell is today presenting the best financial result in our 110 year long history. This is, of course, a great inspiration for all of my more than 2,000 colleagues around the globe. The time-charter earnings in ocean tankers ended at USD195 million, and this compares to USD182 million in the fourth quarter of 2023.

We delivered an EBIT of USD89 million, This compares to USD71 million in the previous quarter, and we delivered a record net result of USD68 million. This net result, adjusted for one-off items was USD69 million, and this

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