China Oilfield Services Ltd (FRA:CO9)

Full Year 2024 China Oilfield Services Ltd Earnings Call (Chinese, English) Transcript

Mar 25, 2025 / 02:00 AM GMT

Release Date Price: €0.775 (-0.64%)

Transcript

Key Points

Positve

China Oilfield Services Ltd (SHSE:601808) reported a stable and positive development trend in 2024, with comprehensive strength continuing to rise.
The technology segment saw a revenue growth of 7% and an operating profit margin increase of 16.2%, outperforming the global industry growth rate.
The company signed overseas contracts valued at $1.36 billion, indicating a strong international presence.
The marine support services segment experienced a 20% revenue growth in the second half of 2024, showcasing effective strategic development.
Dividend payout increased from 33.25% to 35.02%, reflecting a commitment to shareholder returns.

Negative

The drilling segment faced profitability challenges in the second half of 2024 due to severe typhoons and increased expenses from facility overhauls.
There was a year-on-year decrease in the value of new overseas contracts signed, indicating potential challenges in international market expansion.
Four platforms were suspended by Saudi Aramco, impacting operational stability and requiring new market arrangements.
The company faced tax disputes in Mexico, leading to provisions for potential liabilities.
Despite revenue growth, the marine support services segment's profit growth was hindered by outsourcing expenses.

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

601808.SS - China Oilfield Services Ltd
Full Year 2024 China Oilfield Services Ltd Earnings Call (Chinese, English)
Mar 26, 2025 / 02:00AM GMT

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Presentation
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CEA is one of the world's largest oil field services providers. Its services cover all stages of oil and gas exploration, development and production, and its businesses are categorized into four major businesses.

Geophysical acquisition and surveying services, drilling services, technology services, and marine support services. Under the guidance of the company's five major development strategies, the company maintained a stable and positive development trend in 2024, and its comprehensive strength continued to rise while its domestic and international brand influence and value continued to expand.

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