Prosafe SE (OSL:PRS)

kr 30.55 -0.35 (-1.13%) Market Cap: 545.89 Mil Enterprise Value: 4.39 Bil PE Ratio: 0 PB Ratio: 2.03 GF Score: 65/100

Q4 2022 Prosafe SE Earnings Call Transcript

Feb 28, 2023 / 09:00AM GMT

Release Date Price: kr138.65 (-3.10%)

Transcript

Jesper Kragh Andresen

Prosafe SE - CEO

Good morning, and welcome to Prosafe's Q4 '22 presentation here on the last date of February, and welcome to the new surroundings here at Hotel Continental. We have literally moved out of the basement, and thanks for joining us for that. I think it's an improvement for the better. There's no improvement or change on the disclaimer. I expect that all will read that or are well familiar with it.

The key highlights for the quarter would show good operations. I think financials in line or perhaps a bit better than expected and a continued very positive outlook for our industry.

The Q4 utilization came in at 51 -- sorry, 56.1%, which is quite good for a fourth quarter where typically the vessels go off hire in the North Sea due to the seasonality. Takes full year utilization around 70%, the highest since 2014. On reflection, I think actually, it's even in the low range of what I expected at the beginning of the year. We haven't had much luck in our option exercises on the contracts we've had in '22 but still a good utilization. HSSE and ops performance

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