Var Energi ASA (OSL:VAR)
kr 33.61 -0.59 (-1.73%) Market Cap: 84.10 Bil Enterprise Value: 134.38 Bil PE Ratio: 12.82 PB Ratio: 7.77 GF Score: 77/100
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Q1 2025 Var Energi ASA Earnings Call Transcript

Apr 23, 2025 / 08:00 AM GMT
Release Date Price: kr29.83 (+2.76%)

Key Points

Positve
  • Var Energi ASA (VARRY) reported strong financial results with an operating cash flow of $1.3 billion post-tax in Q1 2025.
  • The company successfully issued EUR 1 billion in senior notes, which were significantly oversubscribed, enhancing liquidity.
  • Production efficiency was high at 97%, with first quarter production at 272,000 barrels of oil equivalent per day, in line with expectations.
  • Var Energi ASA (VARRY) is on track to achieve its 2025 growth target, expecting to reach over 400,000 barrels per day by Q4 2025.
  • The company maintains a strong focus on cost discipline, reducing operating costs to $11.6 per barrel, with expectations to lower it further to $10 per barrel by Q4 2025.
Negative
  • The market environment remains uncertain, which could impact future financial performance and operational plans.
  • There is a high level of uncommitted capital expenditure, which may pose risks if market conditions deteriorate.
  • The company faces challenges in accelerating project timelines due to complexities in geology and engineering.
  • Dividend sustainability is questioned by analysts, especially in a volatile oil price environment.
  • The company has a relatively low free float due to a large shareholder, ENI, holding 63%, which may limit liquidity and investor interest.


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

VAR.OL - Var Energi ASA
Q1 2025 Var Energi ASA Earnings Call
Apr 23, 2025 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everyone, and a warm welcome to Vana Nashi's first quarter 2025 results. The presentation today will be given by our CEO Nick Walker and our CFO Carlos Santopader.

Nick and Carla will present the results, and afterwards we will open up for Q&A. I will now give the word to Nick.

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Unidentified_2 [2]
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Thank you, Ida, and good morning to you all, and a warm welcome to our first quarter 2025 results presentation.

I'm pleased to report strong results in line with expectations and that we're on track to deliver transformative growth in
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