Vis børsmeldingen
“Achieving a stable EBITDA of USD 83 million during a quarter that included a complex upgrade project demonstrates the strong performance across our fleet. This also points to the higher earnings we anticipate as additional rigs transition to higher day rates late 2024 and in 2025.
“With firm contracts in place for our owned rigs through at least mid-2026, we are well-positioned to continue delivering robust returns to our stakeholders. Supported by our solid contract backlog and reliable operations, we remain confident in the long-term prospects of our business. Reflecting this optimism, we have declared a dividend for the third quarter and have the intention to increase the quarterly dividend in connection with the Q4 2024 results.”
Q3 Highlights:
Strong Results Despite SPS Downtime
• Q3 EBITDA of USD 83 million
• Q3 Revenue of USD 186 million
• 97% Financial Utilisation
Deepsea Atlantic SPS Completed, Moving onto Higher Rates
• Deepsea Atlantic SPS completed in early Q3, ahead of schedule and on budget
• Unit now moves onto higher day rate contract
Future Revenue Strong Secured with Backlog until mid-2026
• Order Backlog of USD 2 billion
o USD 1.9 billion from firm contracts
USD 0.1 billion from priced options
Q3 Dividend of USD 14.4 million, Intention Remains to Increase dividend from Q4 Results
• Q3 Quarterly Dividend of USD 0.06 per share declared
• Intention to increase quarterly dividend from Q4 2024 results
Despite SPS capex, Balance Sheet and Liquidity Remains Strong
• Leverage ratio of 1.78x
• Equity Ratio of 63%
• Available Liquidity of USD 227 million
Chief Executive Officer Kjetil Gjersdal, Chief Financial Officer Frode Syslak and Investor Relations Officer James Crothers will be hosting a webcast and Q&A session at 1:30pm CET to discuss the results.
Stakeholders can either use the following link for the webcast or listen via telephone using the details below.
Webcast details:
https://brrmedia.news/OD3_Q3_24
Conference call:
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 Drilling Q3 Results when prompted by the
operator.
For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7495 067 684
jchu@odfjelldrilling.com
London, United Kingdom
6 November 2024
Odfjell Drilling Ltd
This information is published in accordance with the requirements of the Oslo Børs Rule Book II section 4.2.4 (1) no. 3 and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Kilde
