Prosafe SE (OSL:PRS)

kr 31.75 1.2 (3.93%) Market Cap: 567.33 Mil Enterprise Value: 4.41 Bil PE Ratio: 0 PB Ratio: 2.11 GF Score: 65/100

Q2 2023 Prosafe SE Earnings Call Transcript

Aug 17, 2023 / 08:00AM GMT

Release Date Price: kr96.93 (-6.67%)

Transcript

Reese McNeel

Prosafe SE - CFO

Welcome, everyone, to this Q2 2023 Prosafe earnings audiocast. I am Reese McNeel. I'm the interim CEO and the CFO here at Prosafe, and I would first like to thank everyone for taking the time to join this audiocast today.

I would like to start by highlighting some of the key events that we had this past quarter. It was a very busy quarter for Prosafe on many fronts. Operationally, we were very proud to have successfully mobilized the Zephyrus from the North Sea to Brazil, starting the contract on time. Likewise, we completed the mobilization of Concordia with her coming on hire. In August, we also successfully completed the hull cleaning for Notos. So what that has delivered us is obviously improved utilization in the quarter, with having 3 rigs operating during the quarter and now looking into this current quarter with actually 4 rigs finally coming back into play. So a significant amount of operational activity during the quarter, which we're happy that we completed successfully.

Also on the financial side, we had a very busy quarter. We were very happy

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