Odfjell SE (OSTO:ODFO)

kr 104.6 -2 (-1.88%) Market Cap: 8.36 Bil Enterprise Value: 18.54 Bil PE Ratio: 2.78 PB Ratio: 0.85 GF Score: 70/100

Q2 2022 Odfjell SE Earnings Call Transcript

Aug 18, 2022 / 07:00AM GMT

Release Date Price: kr61.8 (+10.36%)

Transcript

Harald Fotland

Odfjell SE - CEO & COO

Good morning, everybody, and welcome to Odfjell's quarterly presentation for the second quarter of 2022. This is my first presentation, and it's also -- we are also presenting Odfjell's best quarterly results in 15 years.

We have a standard agenda. I will present the highlights. Our CFO, Terje Iversen, will present the financial figures. And then I will continue with an operational review and our prospects for the future. Please also note that it's possible to write in questions directly on the screen.

Our highlights. We are, as I said, reporting the best quarter in 15 years, and it's also the second best quarter in Odfjell's history. Our earnings increased with $24 million to USD 160 million in time charter earnings. We delivered a net result of $2 million from Odfjell Terminals. We almost doubled our EBIT from USD 27 million to USD 53 million. We almost tripled our net result from USD 11 million to $30 million.

We saw an increase in contract rates during the quarter of 14%. We have -- we utilized the strong nickel market early in

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