NewMed Energy LP (OTCPK:DKDRF)

Q3 2024 Newmed Energy LP Earnings Call Transcript

Nov 20, 2024 / 12:00 PM GMT

Release Date Price: $3.09

Transcript

Key Points

Positve

NewMed Energy LP (DKDRF) achieved a record quarter for production, with an average of 1.2 BCf a day.
The company reported a net profit of $147 million, which is 25% higher than the same quarter last year.
EBITDA increased to $221 million, indicating strong operational performance.
Sales to the Egyptian market increased due to debottlenecking activities, enhancing market reach.
A dividend of $65 million was announced, reflecting strong financial health and shareholder returns.

Negative

The third gathering project experienced a delay of 4 to 6 months, affecting the timeline.
Higher production costs and taxes offset some of the financial gains.
Operating expenses increased by $10 million, impacting overall profitability.
The completion of the Ashdod looping project is delayed until Q4 2025.
The company faces significant debt, with total debt around $1.7 billion, which could impact future financial flexibility.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NWMDp.TA - Newmed Energy LP
Q3 2024 Newmed Energy LP Earnings Call
Nov 20, 2024 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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So it's new energy. You'll see, you may begin.

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Unidentified_2 [2]
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Thank you very much. Thank you everybody for joining us this afternoon to discuss the third quarter result of 2024. And I'm very happy to empower to present those results. With me here, we have Srika Boha, you met the CFO and Gil Bhan Irvpir. So thank you both that you join me.

Basically what we have in this quarter. We, we achieved a record quarter for production in the V and in record project for a quarter for new energy result with the almost 1.2 BC fa day of production of average

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