Cash flow Odfjell SE

Equities

ODF

NO0003399909

Oil & Gas Transportation Services

Market Closed - Oslo Bors Other stock markets 15:45:00 11/07/2025 BST			5-day change	1st Jan Change
119.80 ^NOK	+1.87%		+6.77%	+2.57%

05-27	Pareto Securities lowers its target price for Odfjell to NOK 169 (171), reiterates buy recommendation	FW
05-26	Odfjell SE, Q1 2025 Earnings Call, May 08, 2025

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Published financial data: ODFJELL SE

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	939M	1.04B	1.31B	1.19B	1.25B
Total Revenues	939M	1.04B	1.31B	1.19B	1.25B
Cost of Goods Sold, Total	625M	745M	866M	682M	669M
Gross Profit	314M	293M	444M	512M	579M
Selling General & Admin Expenses, Total	58.74M	59.34M	73.71M	70.39M	73.81M
Depreciation & Amortization - (IS)	153M	180M	161M	158M	161M
Other Operating Expenses	-	-6.2M	1.74M	-	-
Other Operating Expenses, Total	212M	233M	237M	229M	235M
Operating Income	102M	60.21M	207M	284M	344M
Interest Expense, Total	-83.24M	-75.55M	-81.89M	-95.3M	-81.47M
Interest And Investment Income	889K	608K	4.48M	5.91M	6.85M
Net Interest Expenses	-82.35M	-74.94M	-77.4M	-89.39M	-74.62M
Income (Loss) On Equity Invest.	13.45M	5.12M	12.69M	8.84M	11.29M
Currency Exchange Gains (Loss)	-10.82M	8.19M	21.51M	-11.29M	7.81M
Other Non Operating Income (Expenses)	9.17M	-10.47M	-23.27M	16.67M	-7.93M
EBT, Excl. Unusual Items	31.29M	-11.89M	141M	209M	281M
Gain (Loss) On Sale Of Assets	20K	3.2M	3.81M	1.19M	22K
Asset Writedown	-	-21.09M	-	-	-1.02M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	31.31M	-29.77M	145M	210M	280M
Income Tax Expense	3.48M	3.44M	3.09M	6.58M	1.93M
Earnings From Continuing Operations	27.83M	-33.21M	142M	203M	278M
Net Income to Company	27.83M	-33.21M	142M	203M	278M
Net Income - (IS)	27.83M	-33.21M	142M	203M	278M
Net Income to Common Incl Extra Items	27.83M	-33.21M	142M	203M	278M
Net Income to Common Excl. Extra Items	27.83M	-33.21M	142M	203M	278M
Per Share Items
Net EPS - Basic	0.35	-0.42	1.79	2.57	3.51
Basic EPS - Continuing Operations	0.35	-0.42	1.79	2.57	3.51
Basic Weighted Average Shares Outstanding	78.63M	78.89M	78.96M	79.01M	79.05M
Net EPS - Diluted	0.35	-0.42	1.79	2.57	3.51
Diluted EPS - Continuing Operations	0.35	-0.42	1.79	2.57	3.51
Diluted Weighted Average Shares Outstanding	78.63M	78.89M	78.96M	79.01M	79.05M
Normalized Basic EPS	0.25	-0.09	1.12	1.65	2.22
Normalized Diluted EPS	0.25	-0.09	1.12	1.65	2.22
Dividend Per Share	-	0.11	0.84	1.25	1.78
Payout Ratio	-	-	18.54	47.54	46.36
Supplemental Items
EBITDA	196M	170M	306M	376M	439M
EBITA	102M	60.21M	207M	284M	344M
EBIT	102M	60.21M	207M	284M	344M
EBITDAR	398M	392M	534M	535M	600M
Effective Tax Rate - (Ratio)	11.12	-11.55	2.14	3.13	0.69
Current Foreign Taxes	3.76M	3.84M	4.19M	7.01M	2.17M
Total Current Taxes	3.76M	3.84M	4.19M	7.01M	2.17M
Deferred Domestic Taxes	-	-	-	-	-
Deferred Foreign Taxes	-276K	-403K	-1.1M	-439K	-242K
Total Deferred Taxes	-276K	-403K	-1.1M	-439K	-242K
Normalized Net Income	19.56M	-7.43M	88.06M	130M	175M
Interest on Long-Term Debt	13.95M	13.34M	11.08M	15.8M	19.76M
Non-Cash Pension Expense	1.61M	1.94M	1.19M	1.78M	1.77M
Supplemental Operating Expense Items
General and Administrative Expenses	58.74M	59.34M	73.71M	70.39M	73.81M
Net Rental Expense, Total	201M	222M	228M	158M	161M
Imputed Operating Lease Interest Expense	93.36M	91.86M	116M	107M	96.17M
Imputed Operating Lease Depreciation	108M	130M	112M	51.05M	64.85M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	103M	73.48M	118M	112M	147M
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	-	-	12.94M	-	-
Total Cash And Short Term Investments	103M	73.48M	131M	112M	147M
Accounts Receivable, Total	70.01M	90.1M	98.4M	90.54M	107M
Other Receivables	16.54M	21.43M	17.8M	31.64M	31.75M
Notes Receivable	-	-	750K	975K	699K
Total Receivables	86.55M	112M	117M	123M	140M
Inventory	25.17M	38.75M	32.96M	39.77M	39.02M
Prepaid Expenses	5.59M	5.66M	1.62M	1.71M	1.33M
Other Current Assets, Total	6.66M	37.28M	5.12M	5.26M	8.8M
Total Current Assets	227M	267M	287M	282M	336M
Gross Property Plant And Equipment	3.19B	1.71B	3.04B	3.24B	1.68B
Accumulated Depreciation	-1.4B	-88.25M	-1.51B	-1.71B	-42.67M
Net Property Plant And Equipment	1.78B	1.62B	1.54B	1.52B	1.64B
Long-term Investments	200M	179M	168M	171M	172M
Accounts Receivable Long-Term	-	-	-	-	-
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	669K	926K	1.8M	2.56M	1.74M
Other Long-Term Assets, Total	8.24M	4.39M	15.52M	13.78M	21.67M
Total Assets	2.22B	2.07B	2.01B	1.99B	2.17B
Liabilities
Accounts Payable, Total	27.99M	42.78M	34.72M	29M	26.86M
Accrued Expenses, Total	39.16M	42.67M	41.93M	48.83M	48.19M
Short-term Borrowings	19M	19.07M	-	-	-
Current Portion of Long-Term Debt	179M	169M	218M	166M	211M
Current Portion of Leases	59.65M	60.73M	63.35M	94.31M	176M
Current Income Taxes Payable	333K	123K	214K	610K	518K
Unearned Revenue Current, Total	207K	-	-	-	-
Other Current Liabilities	17.21M	24.81M	34.69M	26.31M	38.77M
Total Current Liabilities	342M	359M	393M	365M	502M
Long-Term Debt	1.06B	969M	739M	658M	501M
Long-Term Leases	210M	173M	157M	154M	221M
Pension & Other Post Retirement Benefits	6.14M	5.3M	3.53M	3.61M	1.26M
Deferred Tax Liability Non Current	299K	268K	15K	10K	10K
Other Non Current Liabilities	26.09M	18.1M	19.26M	14.64M	13M
Total Liabilities	1.64B	1.52B	1.31B	1.2B	1.24B
Common Stock, Total	29.42M	29.42M	29.42M	27.76M	27.76M
Additional Paid In Capital	172M	172M	172M	172M	172M
Retained Earnings	389M	356M	471M	578M	728M
Treasury Stock	-2.55M	-2.5M	-2.49M	-959K	-947K
Comprehensive Income and Other	-12.64M	-7.18M	26.65M	21.04M	2.77M
Total Common Equity	576M	549M	697M	799M	930M
Total Equity	576M	549M	697M	799M	930M
Total Liabilities And Equity	2.22B	2.07B	2.01B	1.99B	2.17B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	78.78M	78.91M	78.98M	79.02M	79.07M
ECS Total Common Shares Outstanding	78.78M	78.91M	78.98M	79.02M	79.07M
Book Value / Share	7.31	6.95	8.83	10.11	11.76
Tangible Book Value	576M	549M	697M	799M	930M
Tangible Book Value Per Share	7.31	6.95	8.83	10.11	11.76
Total Debt	1.53B	1.39B	1.18B	1.07B	1.11B
Net Debt	1.42B	1.32B	1.05B	961M	963M
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	-	-	-	-
Debt Equivalent Oper. Leases	1.61B	1.77B	1.82B	1.27B	1.29B
Equity Method Investments, Total	200M	179M	168M	171M	172M
Account Code - Inventory Valuation	5	5	5	5	5
Machinery, Total	2.87B	1.42B	2.74B	2.88B	1.29B
Full Time Employees	2.29K	2.3K	2.27K	2.3K	2.32K
Accumulated Allowance for Doubtful Accounts (Supple)	2.16M	2.08M	2.9M	1.76M	2.31M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	27.83M	-33.21M	142M	203M	278M
Depreciation & Amortization - CF	153M	174M	161M	158M	161M
Depreciation & Amortization, Total	153M	174M	161M	158M	161M
(Gain) Loss From Sale Of Asset	20K	3.2M	-3.81M	-1.19M	-22K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-2.66M	-
Asset Writedown & Restructuring Costs	-	21.09M	-	-	1.02M
(Income) Loss On Equity Investments - (CF)	-13.36M	-5.1M	-12.69M	-8.84M	-11.29M
Other Operating Activities, Total	-2.93M	3.13M	14.78M	516K	-7.88M
Change In Accounts Receivable	-	-	-	-	-
Change In Inventories	-9.51M	-10.63M	-12.63M	-9.45M	-14.95M
Change In Accounts Payable	-	-	-	-	-
Change in Other Net Operating Assets	-	-	-	-	-
Cash from Operations	155M	153M	289M	340M	406M
Capital Expenditure	-207M	-34.37M	-37.31M	-97.77M	-77.6M
Sale of Property, Plant, and Equipment	4.11M	20.44M	34.73M	47.49M	5.24M
Cash Acquisitions	-	-11.74M	-19.08M	-	-
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-19M	-	-	15.53M	-
Other Investing Activities, Total	7.47M	5.4M	792K	761K	-828K
Cash from Investing	-215M	-20.27M	-20.86M	-33.99M	-73.19M
Short Term Debt Issued, Total	19M	-	26.75M	-	-
Long-Term Debt Issued, Total	323M	222M	237M	213M	90M
Total Debt Issued	342M	222M	263M	213M	90M
Long-Term Debt Repaid, Total	-279M	-383M	-454M	-405M	-260M
Total Debt Repaid	-279M	-383M	-454M	-405M	-260M
Issuance of Common Stock	-	-	-	322K	517K
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-	-	-26.25M	-96.65M	-129M
Common & Preferred Stock Dividends Paid	-	-	-26.25M	-96.65M	-129M
Other Financing Activities, Total	-	1K	-4.82M	-23.22M	-
Cash from Financing	63.08M	-161M	-221M	-312M	-299M
Foreign Exchange Rate Adjustments	-1.36M	-821K	-2.1M	391K	-
Miscellaneous Cash Flow Adjustments	-	-1K	-1K	-	-1K
Net Change in Cash	2.3M	-29.63M	44.19M	-5.38M	34.22M
Supplemental Items
Cash Interest Paid	85.26M	73.92M	80.84M	95.11M	81.42M
Cash Income Tax Paid (Refund)	3.64M	4.05M	4.1M	6.62M	2.26M
Levered Free Cash Flow	-54.04M	86.4M	225M	158M	238M
Unlevered Free Cash Flow	-2.02M	134M	276M	218M	289M
Change In Net Working Capital	11.62M	43.78M	-22.15M	20.04M	9.53M
Net Debt Issued / Repaid	63.08M	-161M	-190M	-192M	-170M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	3	1.75	6.35	8.86	10.34
Return on Total Capital	3.18	1.86	6.8	9.47	11
Return On Equity %	4.94	-5.91	22.73	27.18	32.15
Return on Common Equity	4.94	-5.91	22.73	27.18	32.15
Margin Analysis
Gross Profit Margin %	33.39	28.24	33.91	42.91	46.4
SG&A Margin	6.26	5.72	5.63	5.9	5.91
EBITDA Margin %	20.92	16.4	23.35	31.51	35.12
EBITA Margin %	10.84	5.8	15.83	23.77	27.57
EBIT Margin %	10.84	5.8	15.83	23.77	27.57
Income From Continuing Operations Margin %	2.96	-3.2	10.81	17.03	22.25
Net Income Margin %	2.96	-3.2	10.81	17.03	22.25
Net Avail. For Common Margin %	2.96	-3.2	10.81	17.03	22.25
Normalized Net Income Margin	2.08	-0.72	6.72	10.92	14.05
Levered Free Cash Flow Margin	-5.75	8.32	17.15	13.25	19.1
Unlevered Free Cash Flow Margin	-0.21	12.87	21.06	18.23	23.17
Asset Turnover
Asset Turnover	0.44	0.48	0.64	0.6	0.6
Fixed Assets Turnover	0.55	0.61	0.83	0.78	0.79
Receivables Turnover (Average Receivables)	13.41	12.97	13.89	12.64	12.61
Inventory Turnover (Average Inventory)	23.25	23.31	24.14	18.74	16.99
Short Term Liquidity
Current Ratio	0.66	0.74	0.73	0.77	0.67
Quick Ratio	0.55	0.51	0.63	0.64	0.57
Operating Cash Flow to Current Liabilities	0.45	0.42	0.73	0.93	0.81
Days Sales Outstanding (Average Receivables)	27.29	28.14	26.27	28.88	29.02
Days Outstanding Inventory (Average Inventory)	15.74	15.66	15.12	19.47	21.54
Average Days Payable Outstanding	16.92	17.02	16.45	16.89	15.29
Cash Conversion Cycle (Average Days)	26.11	26.77	24.94	31.46	35.27
Long Term Solvency
Total Debt/Equity	265.11	253.47	168.83	134.35	119.36
Total Debt / Total Capital	72.61	71.71	62.8	57.33	54.41
LT Debt/Equity	220.41	208.1	128.47	101.76	77.69
Long-Term Debt / Total Capital	60.37	58.87	47.79	43.42	35.42
Total Liabilities / Total Assets	74.06	73.54	65.29	59.96	57.12
EBIT / Interest Expense	1.22	0.8	2.53	2.98	4.22
EBITDA / Interest Expense	3.06	3.1	4.5	4.64	6.21
(EBITDA - Capex) / Interest Expense	0.57	2.65	4.05	3.61	5.25
Total Debt / EBITDA	5.99	5.93	3.19	2.43	2.2
Net Debt / EBITDA	5.58	5.62	2.84	2.17	1.91
Total Debt / (EBITDA - Capex)	31.95	6.95	3.55	3.12	2.59
Net Debt / (EBITDA - Capex)	29.79	6.59	3.16	2.79	2.25
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.65	10.58	26.12	-8.82	4.58
Gross Profit, 1 Yr. Growth %	24.87	-6.49	51.41	15.39	13.07
EBITDA, 1 Yr. Growth %	47.48	-13.35	73.11	23.02	16.56
EBITA, 1 Yr. Growth %	155.71	-40.87	244.38	36.89	21.25
EBIT, 1 Yr. Growth %	155.71	-40.87	244.38	36.89	21.25
Earnings From Cont. Operations, 1 Yr. Growth %	-175.94	-219.32	-526.46	43.57	36.65
Net Income, 1 Yr. Growth %	-175.94	-219.32	-526.46	43.57	36.65
Normalized Net Income, 1 Yr. Growth %	-202.19	-137.99	-1.29K	48.12	34.53
Diluted EPS Before Extra, 1 Yr. Growth %	-175.94	-218.93	-526.06	43.48	36.58
Accounts Receivable, 1 Yr. Growth %	-0.06	28.7	9.22	-7.99	18.65
Inventory, 1 Yr. Growth %	-12.08	53.98	-14.95	20.66	-1.88
Net Property, Plant and Equip., 1 Yr. Growth %	10.1	-9.08	-5.26	-0.76	7.41
Total Assets, 1 Yr. Growth %	10	-6.62	-3.11	-0.72	8.72
Tangible Book Value, 1 Yr. Growth %	4.49	-4.74	27.09	14.53	16.44
Common Equity, 1 Yr. Growth %	4.49	-4.74	27.09	14.53	16.44
Cash From Operations, 1 Yr. Growth %	57.4	-1.64	89.11	17.73	19.5
Capital Expenditures, 1 Yr. Growth %	41.47	-83.41	8.56	162.03	-20.63
Levered Free Cash Flow, 1 Yr. Growth %	29.82	-259.88	107.22	-29.59	50.76
Unlevered Free Cash Flow, 1 Yr. Growth %	-115.92	-6.72K	77.23	-21.06	32.9
Dividend Per Share, 1 Yr. Growth %	-	-	740	56.25	42.4
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.06	9.1	18.09	7.23	-2.35
Gross Profit, 2 Yr. CAGR %	32.58	8.06	18.99	32.18	14.23
EBITDA, 2 Yr. CAGR %	34.48	13.05	24.76	45.93	19.75
EBITA, 2 Yr. CAGR %	176.45	22.96	42.7	117.12	28.84
EBIT, 2 Yr. CAGR %	176.45	22.96	42.7	117.12	28.84
Earnings From Cont. Operations, 2 Yr. CAGR %	-63.67	-4.81	125.58	147.44	40.07
Net Income, 2 Yr. CAGR %	-63.67	-4.81	125.58	147.44	40.07
Normalized Net Income, 2 Yr. CAGR %	-60.52	-37.69	112.2	319.01	41.16
Diluted EPS Before Extra, 2 Yr. CAGR %	-63.65	-4.96	125.1	147.25	39.99
Accounts Receivable, 2 Yr. CAGR %	2.68	13.41	18.56	0.25	4.49
Inventory, 2 Yr. CAGR %	-5.1	16.35	14.44	1.3	8.81
Net Property, Plant and Equip., 2 Yr. CAGR %	14.18	0.05	-7.19	-3.03	3.25
Total Assets, 2 Yr. CAGR %	9.79	1.35	-4.88	-1.92	3.89
Tangible Book Value, 2 Yr. CAGR %	-2.08	-0.23	10.03	20.65	15.48
Common Equity, 2 Yr. CAGR %	-2.08	-0.23	10.03	20.65	15.48
Cash From Operations, 2 Yr. CAGR %	90.6	24.42	36.39	49.21	18.61
Capital Expenditures, 2 Yr. CAGR %	10.47	-51.55	-57.56	68.66	44.21
Levered Free Cash Flow, 2 Yr. CAGR %	-27.27	44.07	103.87	20.79	3.03
Unlevered Free Cash Flow, 2 Yr. CAGR %	-81.02	224.67	1.07K	18.28	2.42
Dividend Per Share, 2 Yr. CAGR %	-	-	-	253.55	49.16
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	3.68	6.86	14.5	8.33	6.34
Gross Profit, 3 Yr. CAGR %	17.55	18.02	20.92	17.78	25.48
EBITDA, 3 Yr. CAGR %	16.26	16.15	31.91	24.18	35.4
EBITA, 3 Yr. CAGR %	41.4	65.33	73.32	40.74	78.8
EBIT, 3 Yr. CAGR %	41.4	65.33	73.32	40.74	78.8
Earnings From Cont. Operations, 3 Yr. CAGR %	-32.53	-46	56.93	94.04	103.01
Net Income, 3 Yr. CAGR %	-32.53	-46	56.93	94.04	103.01
Normalized Net Income, 3 Yr. CAGR %	-35.12	-61.02	66.33	88.23	186.92
Diluted EPS Before Extra, 3 Yr. CAGR %	-32.53	-46.04	56.7	93.72	102.87
Accounts Receivable, 3 Yr. CAGR %	5.32	10.71	12	8.95	6.04
Inventory, 3 Yr. CAGR %	6.39	11.51	4.81	16.47	0.23
Net Property, Plant and Equip., 3 Yr. CAGR %	11.06	5.83	-1.75	-5.09	0.33
Total Assets, 3 Yr. CAGR %	3.54	4.02	-0.16	-3.51	1.51
Tangible Book Value, 3 Yr. CAGR %	-10.96	-2.97	8.15	11.51	19.23
Common Equity, 3 Yr. CAGR %	-10.96	-2.97	8.15	11.51	19.23
Cash From Operations, 3 Yr. CAGR %	42.57	52.88	43.06	29.86	38.57
Capital Expenditures, 3 Yr. CAGR %	6.15	-41.28	-36.6	-22.14	31.19
Levered Free Cash Flow, 3 Yr. CAGR %	-15.68	-5.43	75.4	43.04	30.05
Unlevered Free Cash Flow, 3 Yr. CAGR %	-66.21	33.6	179.18	376.01	22.97
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	161.1
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.22	4.71	9.22	7.01	7.44
Gross Profit, 5 Yr. CAGR %	6.66	2.67	18.13	23.49	18.2
EBITDA, 5 Yr. CAGR %	6.28	-1.76	19.59	28.2	26.91
EBITA, 5 Yr. CAGR %	12.41	-9.04	41.92	84.37	53.93
EBIT, 5 Yr. CAGR %	12.41	-9.04	41.92	84.37	53.93
Earnings From Cont. Operations, 5 Yr. CAGR %	-4.82	-19.79	9.34	-0.72	49.95
Net Income, 5 Yr. CAGR %	-4.82	-19.79	9.34	-0.72	49.95
Normalized Net Income, 5 Yr. CAGR %	26.17	-32.45	4.22	0.78	55.76
Diluted EPS Before Extra, 5 Yr. CAGR %	-2.93	-19.83	9.25	-0.8	49.79
Accounts Receivable, 5 Yr. CAGR %	1.08	7.8	10.43	6.4	8.93
Inventory, 5 Yr. CAGR %	14.13	16.67	9.54	7.31	6.39
Net Property, Plant and Equip., 5 Yr. CAGR %	6.63	5.52	3.37	2.19	0.22
Total Assets, 5 Yr. CAGR %	2.7	1.95	0.09	1.6	1.44
Tangible Book Value, 5 Yr. CAGR %	-2.25	-5.26	-3.1	5.86	11.03
Common Equity, 5 Yr. CAGR %	-2.25	-5.26	-3.1	5.86	11.03
Cash From Operations, 5 Yr. CAGR %	10.56	4.6	40.06	51.4	32.73
Capital Expenditures, 5 Yr. CAGR %	33.37	-8.2	-26.44	-10.45	-11.93
Levered Free Cash Flow, 5 Yr. CAGR %	11.87	0.81	20.03	9.13	41.77
Unlevered Free Cash Flow, 5 Yr. CAGR %	-8.35	3.16	39.43	31.19	86.93
Dividend Per Share, 5 Yr. CAGR %	-	-8.22	35.6	-	-