Petrofac Ltd (OTCPK:POFCF)

$ 0.1516 0 (0%) Market Cap: 73.04 Mil Enterprise Value: 819.04 Mil PE Ratio: 0 PB Ratio: 0 GF Score: 46/100

Half Year 2023 Petrofac Ltd Earnings Call Transcript

Aug 10, 2023 / 07:30AM GMT

Release Date Price: $0.965

Transcript

Tareq F. Kawash

Petrofac Limited - Group Chief Executive & Director

Good morning, everyone, and thank you for joining us. I'm Tareq Kawash, Petrofac's Group Chief Executive. I'm very pleased to be joined by Afonso Reis Sousa, our Chief Financial Officer.

On screen, you should see our standard disclosure notice. Please read it at your leisure. In a few moments, Afonso is going to take you through the detail of our financial results.

First, I'd like to summarize progress on our key priorities. The first half of 2023 was Petrofac's strongest period of new awards in many years. Thanks to the efforts of our people around the group, we secured over $4 billion of new awards in both traditional and renewable energies. With this high-quality backlog, a diverse pipeline of future opportunities and a growing talent pool, we have created a strong base for which to move forward.

In addition to building a robust backlog, continuing to strengthen our balance sheet is critical to our plan to restore Petrofac to sustainable, profitable growth. While the first half results we've announced

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