Highlights - 4Q23:
- The time charter earnings in Odfjell Tankers ended at
USD 182 million , compared toUSD 184 million in 3Q23. -
EBIT of
USD 71 million compared toUSD 76 million in 3Q23. -
Strong net result of
USD 52 million . Net result adjusted for one-off items wasUSD 50 million , compared toUSD 49 million in 3Q23. - Rates on renewed COAs in the quarter were up 5% on average, covering 29% of estimated annual contract volume.
-
Net result contribution from Odfjell Terminals slightly up at
USD 2.4 million , compared toUSD 2.1 million in 3Q23. - Carbon intensity (AER) for 4Q23 came in at 7.2, in line with 3Q23.
-
The Board approved dividend of
USD 0.63 per share based on 2H23 net adjusted results.
Highlights - FY2023:
- Odfjell delivered a record strong net result of
USD 203 million , leading to a total dividend FY2023 ofUSD 99 million . - The COA portfolio was further strengthened, providing a solid foundation for all Odfjell's trades and reducing earnings volatility going forward.
-
Geopolitical tensions and the
Panama Canal drought led to inefficiencies that increased vessel utilization, in turn supporting higher rates. - Odfjell continues to renew its fleet and has in total twelve new 25-40,000 dwt stainless steel vessels to be delivered on long-term time charters and pool agreements between 2024 and 2027.
"Our solid performance continued in 4Q23, rounding off a record year for Odfjell. Our main concern will always be the safety of our people. Since early December, we have not been sailing through the
Please see attached for the 4Q23 report and presentation. Tomorrow,
IR Contact:
Nils Jørgen Selvik, VP Corporate Analysis & IR
Tel: +47 920 39 718
E-mail: nils.jorgen.selvik@odfjell.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
https://news.cision.com/odfjell-se/r/odfjell-se-4q23--a-solid-quarter-that-concludes-a-record-year-for-odfjell,c3925345
https://mb.cision.com/Main/18642/3925345/2592792.pdf
https://mb.cision.com/Public/18642/3925345/ae9fd79bb8ae50c0.pdf
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