Odfjell SE (STU:O7F)

€ 9.1 -0.13 (-1.41%) Market Cap: 713.27 Mil Enterprise Value: 1.58 Bil PE Ratio: 3.05 PB Ratio: 0.95 GF Score: 62/100

Q3 2024 Odfjell SE Earnings Call Transcript

Nov 06, 2024 / 08:00AM GMT

Release Date Price: €9.33 (-8.35%)

Transcript

Harald Fotland

Odfjell SE - Chief Executive Officer

Good morning everybody and welcome to this presentation of Odfjell's third quarter results. This presentation will follow a traditional pattern. I will start and take you through the highlights. My colleague, Terje Iversen, will take you through our financial performance. And then I will conclude this presentation with an operational review, market update and prospects going forward.

If we then turn to the highlights, we delivered another very strong third quarter result despite a slightly softening spot market. We had a strong safety performance and we had no significant incidents during the quarter. Our time-charter earnings in Odfjell Tankers ended at USD212 million. This is USD13 million below the second quarter, which was a record of USD215 million. We delivered an EBIT of USD91 million, and this compares to USD107 million in the second quarter.

We had a very strong quarterly net result of USD71 million, and this net result, adjusted for one of items, remained at USD71 million, compared to USD88 million in the second quarter. And

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