Q4 2022 BW Offshore Ltd Earnings Call Transcript

Mar 03, 2024

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Feb 28, 2023 / 08:00AM GMT
Operator

Hello, and welcome to the BW Offshore Quarter 4 2022 Presentation. My name is Caroline, and I will be your coordinator for today's event. Please note, this call is being recorded. (Operator Instructions) I will now hand over the call to your host, Mr. Marco Beenen, the CEO, to begin today's conference. Thank you.

Marco Beenen - BW Offshore Limited - CEO

Thank you, and good morning, everyone. Welcome to our fourth quarter 2022 update and our full year results presentation. Together with Stale Andreassen, our CFO, I will run you through our presentation, and then we will conclude with the Q&A at the end. Please note our disclaimer. And then I continue with the highlights.

Full year results came in with a solid USD 346 million EBITDA and an operational cash flow of USD 650 million, of which about half came from the lease prepayments for the Barossa FPSO. For the quarter, EBITDA was USD 105 million, and that includes a one-off from the Gato do Mato limited notice to proceed, which was terminated.

The Barossa project continues to progress well

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