Odfjell SE (OSL:ODF)

kr 119.6 +1 (+0.84%) Market Cap: 9.41 Bil Enterprise Value: 19.48 Bil PE Ratio: 3.65 PB Ratio: 0.98 GF Score: 76/100

Q4 2024 Odfjell SE Earnings Call and Q&A Transcript

Feb 7, 2025 / 09:00 AM GMT

Release Date Price: kr116.4 (-2.51%)

Transcript

Key Points

Positve

Odfjell SE (FRA:O7F) concluded 2024 as the best financial year in its 110-year history, showcasing strong financial performance.
The company maintained high operational efficiency with no serious incidents reported during the year.
A dividend of $0.78 per share was approved, reflecting strong net adjusted results for the second half of 2024.
Odfjell SE (FRA:O7F) successfully renewed 45% of its contract portfolio with rate increases, despite a softer market.
The company continues to expand and renew its fleet, with 18 vessels on order, including new long-term charters and fully owned vessels.

Negative

Time charter earnings in oil field tankers decreased by approximately 10% from the third quarter, reflecting reduced port cargos and lower volumes.
The net result contribution from terminals was slightly below the third quarter, mainly due to currency effects and a write-down.
There was a decrease in the share of net results from terminals, impacted by currency effects and some write-downs.
Odfjell SE (FRA:O7F) experienced a reduction in volumes, particularly in spot volumes, leading to a 10% decrease in cargo lifted during the fourth quarter.
The company anticipates a slight decline in earnings for the first quarter of 2025 due to reduced volumes observed at the end of the fourth quarter.

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

ODF.OL - Odfjell SE
Q4 2024 Odfjell SE Earnings Call and Q&A
Feb 07, 2025 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Okay, good morning, everyone, and welcome to this presentation of Advi's 4th quarter and preliminary full year presentation, this time in front of a live audience here in Oslo.

The agenda follows, I would say a traditional pattern. I will go quickly through the highlights and then I will give the word to Terry Iverson, who will take you through the financials, and I will continue with an operational review of the quarter behind us, and we will conclude conclude this presentation with a market update and our prospects going forward.

So then if we turn to the highlights, I'm first and foremost very proud on behalf of all my colleagues to conclude 2024. That was the best financial year in Odel's 110 year long history.

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