Financials 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

Projected Income Statement: Odfjell SE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	939.1	1,038	1,310	1,194	1,249	1,156	1,168	1,296
Change	-	10.57%	26.11%	-8.82%	4.57%	-7.44%	1.04%	10.96%
EBITDA ¹	268.3	245.2	381.3	450.8	516.8	399.3	429.8	460.9
Change	-	-8.61%	55.51%	18.23%	14.64%	-22.73%	7.62%	7.24%
EBIT ¹	115.3	47.4	223.9	294	354.5	236.8	262.3	290.2
Change	-	-58.89%	372.36%	31.31%	20.58%	-33.21%	10.77%	10.66%
Interest Paid ¹	-83.2	-77.2	-79.2	-84	-74.7	-74	-69.33	-64
Earnings before Tax (EBT) ¹	31.3	-29.8	144.7	209.9	279.7	161.8	187.7	214.3
Change	-	-195.21%	585.57%	45.06%	33.25%	-42.14%	15.99%	14.17%
Net income ¹	27.8	-33.2	141.6	203.4	277.8	158.6	184.5	210.6
Change	-	-219.42%	526.51%	43.64%	36.58%	-42.92%	16.36%	14.16%
Announcement Date	11/02/21	08/02/22	08/02/23	08/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	234.8	230.1	233.9	243.2	253.1	259.1	282.8	292.4	347.9	351.4	317.9	302.9	299.8	295.2	296.2	305.6	330.3	316.9	295.8	276.7	284.3	288.2	308.4	288.5	304.5	282	307
Change	-	-2%	1.65%	3.98%	4.07%	2.37%	9.15%	3.39%	18.98%	1.01%	-9.53%	-4.72%	-1.02%	-1.53%	0.34%	3.17%	8.08%	-4.06%	-6.66%	-6.46%	2.75%	1.36%	7.01%	-6.45%	5.55%	-7.39%	8.87%
EBITDA ¹	74	64	59.3	53.2	56.6	58.2	77.3	67.4	89.5	111.6	112.8	110.1	117.9	114.2	108.7	126.8	147.2	132.3	110.5	93.1	96.66	101	109.7	105.5	113.5	94	109
Change	-	-13.51%	-7.34%	-10.29%	6.39%	2.83%	32.82%	-12.81%	32.79%	24.69%	1.08%	-2.39%	7.08%	-3.14%	-4.82%	16.65%	16.09%	-10.12%	-16.48%	-15.75%	3.83%	4.44%	8.65%	-3.82%	7.58%	-17.18%	15.96%
EBIT ¹	36.8	26.1	17.8	7.8	11.1	14	35.3	26.7	52.8	71.1	73.4	68.3	78.5	76.1	70.9	88.5	107.4	90.5	68.1	52.2	55.81	60.32	68.7	63.5	71.5	52	67
Change	-	-29.08%	-31.8%	-56.18%	42.31%	26.13%	152.14%	-24.36%	97.75%	34.66%	3.23%	-6.95%	14.93%	-3.06%	-6.83%	24.82%	21.36%	-15.74%	-24.75%	-23.35%	6.92%	8.07%	13.9%	-7.57%	12.6%	-27.27%	28.85%
Charge d'intérêts ¹	-21.1	-20	-20.5	-22.1	-18.2	-17.6	-19.3	-18.6	-18.4	-20.4	-22	-22.8	-22.8	-23.3	-17.5	-20.3	-18.6	-18.3	-18.1	-19.6	-18.67	-18.67	-18	-17.5	-18.5	-17	-17
Earnings before Tax (EBT) ¹	32	5.1	-2.3	-14.3	-7.2	-24.4	16	11.3	31.4	50.6	51.3	47.9	55.8	52.9	53.4	68.9	88.8	72.2	50	34.8	37.61	42.17	51.2	46.5	53.5	36	52
Change	-	-84.06%	-145.1%	-521.74%	49.65%	-238.89%	165.57%	-29.37%	177.88%	61.15%	1.38%	-6.63%	16.49%	-5.2%	0.95%	29.03%	28.88%	-18.69%	-30.75%	-30.4%	8.07%	12.12%	21.44%	-9.19%	15.05%	-32.71%	44.44%
Net income ¹	31	3.9	-2.6	-15.6	-7.8	-25	15.4	11.1	30	50	50.4	46.7	52.6	51.9	52.1	67.8	88.2	71.3	50.5	34.4	36.71	46.55	51.61	46.5	53	36	51
Change	-	-87.42%	-166.67%	-500%	50%	-220.51%	161.6%	-27.92%	170.27%	66.67%	0.8%	-7.34%	12.63%	-1.33%	0.39%	30.13%	30.09%	-19.16%	-29.17%	-31.88%	6.72%	26.8%	10.86%	-9.89%	13.98%	-32.08%	41.67%
Announcement Date	20/08/20	05/11/20	11/02/21	06/05/21	19/08/21	03/11/21	08/02/22	05/05/22	17/08/22	02/11/22	08/02/23	03/05/23	16/08/23	01/11/23	08/02/24	07/05/24	20/08/24	05/11/24	06/02/25	07/05/25	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Odfjell SE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	1,405	1,298	1,060	961	963	929	860	817
Change	-	-7.62%	-18.34%	-9.34%	0.21%	-3.56%	-7.43%	-5%
Announcement Date	11/02/21	08/02/22	08/02/23	08/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Odfjell SE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	214.6	34.7	37.3	97.8	77.6	108.5	115	111.5
Change	-	-83.83%	7.49%	162.2%	-20.65%	39.82%	5.99%	-3.04%
Free Cash Flow (FCF) ¹	-59.4	132.3	251.3	250.3	328.5	232.3	282	338
Change	-	322.73%	89.95%	-0.4%	31.24%	-29.27%	21.38%	19.86%
Announcement Date	11/02/21	08/02/22	08/02/23	08/02/24	06/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Odfjell SE

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	28.57%	23.61%	29.12%	37.76%	41.39%	34.55%	36.8%	35.57%
EBIT Margin (%)	12.28%	4.56%	17.1%	24.62%	28.39%	20.49%	22.46%	22.4%
EBT Margin (%)	3.33%	-2.87%	11.05%	17.58%	22.4%	14%	16.08%	16.54%
Net margin (%)	2.96%	-3.2%	10.81%	17.04%	22.25%	13.72%	15.8%	16.26%
FCF margin (%)	-6.33%	12.74%	19.19%	20.96%	26.31%	20.1%	24.15%	26.09%
FCF / Net Income (%)	-213.67%	-398.49%	177.47%	123.06%	118.25%	146.53%	152.84%	160.47%
Profitability
ROA	1.31%	-1.55%	6.94%	10.16%	13.35%	8.5%	10.8%	10.8%
ROE	4.9%	-5.9%	21.1%	26.4%	34.7%	16.48%	17.5%	18.05%
Financial Health
Leverage (Debt/EBITDA)	5.24x	5.29x	2.78x	2.13x	1.86x	2.33x	2x	1.77x
Debt / Free cash flow	-23.65x	9.81x	4.22x	3.84x	2.93x	4x	3.05x	2.42x
Capital Intensity
CAPEX / Current Assets (%)	22.85%	3.34%	2.85%	8.19%	6.21%	9.39%	9.85%	8.61%
CAPEX / EBITDA (%)	79.99%	14.15%	9.78%	21.69%	15.02%	27.17%	26.76%	24.19%
CAPEX / FCF (%)	-361.28%	26.23%	14.84%	39.07%	23.62%	46.7%	40.78%	32.99%
Items per share
Cash flow per share ¹	1.96	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	0.1136	0.84	1.25	1.78	1.006	1.172	1.708
Change	-	-	639.24%	48.81%	42.4%	-43.46%	16.47%	45.74%
Book Value Per Share ¹	7.29	6.96	8.83	10.11	11.76	12.66	14.99	15.56
Change	-	-4.53%	26.87%	14.5%	16.32%	7.62%	18.46%	3.77%
EPS ¹	0.35	-0.42	1.79	2.57	3.51	2.003	2.342	2.667
Change	-	-220%	526.19%	43.58%	36.58%	-42.94%	16.94%	13.87%
Nbr of stocks (in thousands)	78,777	78,627	78,979	79,020	79,020	79,119	79,119	79,119
Announcement Date	11/02/21	08/02/22	08/02/23	08/02/24	06/02/25	-	-	-