Q1 2022 Solstad Offshore ASA Earnings Call Transcript

May 10, 2022 / 07:00AM GMT
Lars Peder Solstad – Solstad Offshore ASA – CEO

Good morning, everyone, and welcome to the presentation of the first-quarter 2022 results from Solstad Offshore. And the presentation will be held by our CFO, Kjetil Ramstad; and myself, Lars Peder Solstad. After the presentation, there will be a Q&A session so if you have any questions, please send them in writing and we will answer after the presentation.

This quarter has been a very busy quarter with the signing of many new contracts and our future market view gets better for every day. But it has also been a quarter with many drydockings, mobilization between regions, and in January and February, especially, the bad North Sea weather, giving low utilization on the spot fleet.

But if we look at the financial highlights, we — they are in line with our expectations on the revenue and EBITDA side. Keep in mind that the first quarter last year had a substantial termination fee included. So the underlying result this year is far better than we saw last year.

That being said, there’s some there is some negative impact on what I

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