May 04, 2023 / 07:00AM GMT
Harald Fotland - Odfjell SE - CEO
Good morning, everybody, and welcome to the presentation of Odfjell's first quarter results. This presentation follows a traditional pattern. I will present the highlights. My colleague, Terje will present the financials, then I will give an operational review of the quarter behind us, and we will conclude this session with a general market update and prospects going forward.
Then going to the highlights. The firm chemical tanker market that we saw in 2022 continued into the first quarter. Our time charter earnings ended at $181 million, and this compares to $187 million in the fourth quarter 2022. We produced an EBIT of $68 million, which compares to $73 million in the fourth quarter.
Our net result was $47 million. This is slightly lower than the fourth quarter, and net result adjusted for one-off items was $46 million compared to $50 million in the fourth quarter. Our contract rate renewals were up 32% on average, and this covered 35% of our estimated annual contract volumes.
The majority of these contracts were concluded towards the end of
Q1 2023 Odfjell SE Earnings Call Transcript
May 04, 2023
Already have an account? Log in
Get the full story
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent 
4.6 out of 5 
Trustpilot
Trustpilot
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers