Odfjell Technology Ltd is pleased to report its financial and operational
results for the three-month period ended 31st December 2024.
Q4 Highlights:
– Revenue of NOK 1,450m
– EBITDA of NOK 191m
– EBIT of NOK 110m
– Net profit of NOK 75m
– Leverage ratio of 0.73X
– Available liquidity of NOK 1,144m
– Backlog of NOK 13.3bn
– Q4 dividend of NOK 60m
For the full results, please see the attached report and presentation.
CEO Odfjell Technology AS Simen Lieungh commented:
“Activity levels were high in Q4 for both Operations and Well Services. As
expected, margins were affected by changes in the contract portfolio.
The order backlog remains stable, providing strong long-term revenue visibility.
Notably, we secured our first Powered Wired Pipe contract, a significant
milestone that aligns with our strategic priorities.
Strong cash flow continues to supports our dividend program, which currently
delivers an annualised direct yield of 14% at the prevailing share price.
For the full year 2024 we report a revenue of NOK 5.4 billion and an EBITDA of
NOK 825 million. Key achievements include successfully refinancing debt on
favourable terms, upgrading our equipment pool, securing key contracts and
establishing a presence in new markets.
Looking ahead to 2025, we anticipate market improvements and are well positioned
for global growth with improved margin level.”
Chief Executive Officer Simen Lieungh, Chief Financial Officer Jone Torstensen
and SVP Finance & Investor Relations Gert Haugland, of Odfjell Technology AS
will be hosting a webcast Friday 14th February 2025 to present the results, as
well as providing an outlook for the Company, at 09:30am UK time / 10:30am
Norway Time.
Stakeholders can either use the following link for the webcast or listen via
telephone using the details below.
Information on how to submit questions will be given at the beginning of the Q&A
session.
Please join the event 5-10 minutes prior to scheduled start time.
Webcast details:
https://brrmedia.news/ND4_Q4_24
Conference call details:
USA Local: +1 786 697 3501
Norway Local Oslo: +47 2 156 3318
UK-Wide: +44 (0) 33 0551 0200
Password (if prompted), Quote “Odfjell Technology Q4” when prompted by the
operator
Participants will be asked for name and company.
For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0) 7796 547 889
gbas@odfjelltechnology.com
Aberdeen, United Kingdom
14th February 2025
Odfjell Technology Ltd
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.