Brief: Bw Offshore Q3 EBIT Grows To $38.2 Million

Bw Offshore

16/11/2023 07:04

Nov 16 (Reuters) - BW Offshore Ltd  BWO.OL :
    * Q3 EBITDA OF USD 74.5 MILLION
    * Q3 OPERATING CASHFLOW OF USD 116.3 MILLION
    * DIVIDEND OF USD 0.063 (NOK 0.70)(1) PER SHARE FOR QUARTER
    * EBIT FOR Q3 WAS USD 38.2 MILLION (USD 18.2 MILLION)
    * Q3 GAIN FROM SALE OF FIXED ASSETS WAS USD 9.6 MILLION (USD
8.7
MILLION)
    * FPSO FLEET CONTINUED TO DELIVER STABLE UPTIME IN QUARTER
WITH
WEIGHTED AVERAGE FLEET UPTIME OF 99.2% (98.5% IN Q2 2023)
    * OUTLOOK 2023: EXPECTS THAT THE CORE UNITS IN THE EXISTING
FLEET
WILL CONTINUE TO GENERATE SIGNIFICANT CASH FLOWS IN THE TIME
AHEAD
    * OUTLOOK 2023: SUPPORTED BY THE USD 5.6 BILLION FIRM
CONTRACT
BACKLOG AT END OF SEPTEMBER 2023, INCLUDING THE BAROSSA CONTRACT
    * OUTLOOK 2023: BASED ON CONTRACT BACKLOG, COMPANY EXPECTS
TO
REPORT EBITDA IN THE RANGE OF USD 285 - 295 MLNFOR FY2023 AND
USD 290 - 310 MILLION FOR 2024
    * OUTLOOK 2023: THE NON-CORE FLEET DIVESTMENT PROGRAMME IS
ON
TRACK FOR COMPLETION BY YEAR-END

Source text for Eikon:  ID:nGNE9Q9RM7 
Further company coverage:  BWO.OL 

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