ODFJELL TECHNOLOGY LTD. Odfjell Technology Ltd is pleased to report its financial and operational results for the three-month period ended31st March 2024 . Q1 Highlights: - Revenue ofNOK 1,283m , up 12% YoY - EBITDA ofNOK 212m , up 10% YoY - EBIT ofNOK 123m , up 17% YoY - Net profit ofNOK 51m , up 19% YoY - Leverage ratio of 0.6X - Available liquidity ofNOK 867m - Backlog increased byNOK 1.9bn to a total ofNOK 14.2bn - Q1 dividend distribution increased toNOK 35m compared toNOK 25m in previous quarters For the full results, please see the attached report and presentation. CEO Odfjell Technology ASSimen Lieungh commented: "Q1 is normally a challenging quarter, and we are happy to report solid financial performance and growth compared to Q1 2023. We are also pleased to report strong backlog growth after winning large contracts inNorway . Our focus in 2024 will be to convert a promising tender pipeline to contracts, and further grow our backlog. The market outlook remains positive and our expectations for the coming years are high, both for our targeted new markets, and the markets we operate in today.Odfjell Technology is well positioned to capitalise on the strong market fundamentals, and we will focus on opportunities with strong cash flow and margin levels." Subsequent events:Odfjell Technology acquired bespoke engineering and product design firmMcGarian TDC Ltd. The acquisition expands OTL's product portfolio and strengths our capabilities in the slot recovery and plug and abandonment sectors of the energy industry. Chief Executive OfficerSimen Lieungh , Chief Financial OfficerJone Torstensen and SVP Finance & Investor RelationsGert Haugland , of Odfjell Technology AS will be hosting a webcast Thursday 16th May to present the results as well as providing an outlook for the Company at09:30am UK time /10:30am Norway Time. Stakeholders can either use the following link for the webcast or listen via telephone using the details below. Information on how to submit questions will be given at the beginning of the Q&A session. Please join the event 5-10 minutes prior to scheduled start time. If prompted, please provide the confirmation password below. Webcast details: https://brrmedia.news/OTL_Q124 Conference call detailsUSA Local: +1 786 697 3501 Norway Local Oslo: +47 2 156 3318UK -Wide: +44 (0) 33 0551 0200 Password (if prompted), Quote Odfjell Technology when prompted by the operator. Participants will be asked for name and company. For further queries, please contact:Gillian Basson , Corporate Secretary +44 (0) 7796 547 889 gbas@odfjelltechnology.comAberdeen, United Kingdom 16 May 2024 Odfjell Technology Ltd This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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