Odfjell Technology Ltd reports for the first quarter of 2023

Odfjell Technology Ltd is pleased to report its financial and operational results for the three months period ended 31^st March 2023.

For the full results, please see the attached report and presentation.

• Operating Revenue of NOK 1,145b
• EBITDA of NOK 193,1m
• EBIT of NOK 105m
• Net profit of NOK 43,4m

Highlights:

• High activity level and in line with Q4 2022 for all business areas
• Seasonal effect less significant than previous years
• Strong operational performance 
• Order backlog stable on group level with growth in Well Services and Projects & Engineering
• Dividend distribution of NOK50m approved with payment 1st of June and with the intention to distribute further NOK50m to shareholders over the next two quarters

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 and Q&A session at 10:30am CEST to discuss the results.

Stakeholders can either use the following link for the webcast or listen via telephone using the details below.

Webcast link:

https://brrmedia.news/OTL_Q123

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 Q1 Results 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 547889
gbas@odfjelltechnology.com

Aberdeen, United Kingdom
12 May 2023
Odfjell Technology Ltd

OTL Q1 2023 Report

OTL Q1 Presentation.pdf

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.