BW Offshore Ltd (LTS:0RKH)
kr 29.625 -0.05 (-0.17%) Market Cap: 5.39 Bil Enterprise Value: 17.50 Bil PE Ratio: 5.43 PB Ratio: 0.51 GF Score: 63/100
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Half Year 2022 BW Offshore Ltd Earnings Call Transcript

Aug 29, 2022 / 07:00AM GMT
Release Date Price: kr28.44
Marco Beenen
BW Offshore Limited - CEO

Welcome, everyone, and thank you for participating in this call with an update on BW Offshore's Second Quarter 2022. My name is Marco Beenen, and I'm here with CFO, Stale Andreassen, and we will run you through the presentation in this call.

Please note our disclaimer on the next slide, and then I'm moving on to Slide 3 with the highlights. Barossa is progressing well despite a difficult supply chain landscape. We're now close to 40% complete. We continue our divesting program of the noncore units, and we maintain our dividend commitment with a combination of cash and BW Energy shares at USD 11 million in this quarter, which implies about 8% dividend yield.

Our EBITDA came in at USD 76 million, which is about USD 10 million below last quarter, which is mainly due to a couple of one-off costs and provisions. But nevertheless, we had a solid operating cash flow of USD 136 million.

Then moving on to the operational update. Starting with Barossa FPSO project on Slide 5. Yes, first of all, we closed the quarter with 4 million manhours without

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