ODFJELL DRILLING LTD financials
ODFJELL DRILLING LTD
Country: NO Reporting currency: USD Latest annual report: 2023-12-31
LEI:
529900M08ZU24JXMPB85 Financial statements
(USD, as reported — unscaled; 99 line items across 2 annual periods)
| Line item | 2023 | 2022 |
|---|---|---|
| Income statement | ||
| Revenue | $732.5M | $649.5M |
| Operating expenses | $426.1M | $513.0M |
| Employee benefits expense | $262.4M | $206.5M |
| Operating profit (EBIT) | $306.4M | $136.5M |
| Net finance income / (cost) | -$84.0M | -$48.3M |
| Profit before tax | $222.4M | $88.3M |
| Income tax expense | $300.0K | $5.4M |
| Profit for the year | $222.1M | $129.6M |
| — attributable to owners | $222.1M | $129.6M |
| Total comprehensive income | $213.6M | $157.6M |
| Per share | ||
| Basic EPS | $0.94 | $0.51 |
| Diluted EPS | $0.94 | $0.51 |
| Free cash flow / share | $0.84 | $0.82 |
| Cash flow statement | ||
| Cash generated from operations | $326.9M | $322.4M |
| Net cash from operating activities | $264.7M | $275.2M |
| Net cash from investing activities | -$85.9M | -$111.0M |
| Purchase of PP&E (capex) | $66.2M | $66.6M |
| Net cash from financing activities | -$196.4M | -$171.6M |
| Dividends paid | $28.4M | $2.2M |
| Proceeds from borrowings | $534.9M | $241.5M |
| Repayments of borrowings | $680.2M | $317.1M |
| Lease liability payments | $22.7M | $18.6M |
| Balance sheet | ||
| Total assets | $2.31B | $2.22B |
| Non-current assets | $2.05B | $1.95B |
| Intangible assets & goodwill | $3.0M | $3.4M |
| Current assets | $254.2M | $270.1M |
| Cash & equivalents | $129.2M | $157.2M |
| Total equity | $1.39B | $1.21B |
| Non-current liabilities | $602.3M | $574.1M |
| Long-term borrowings | $561.8M | $529.0M |
| Lease liabilities (non-current) | $38.4M | $41.7M |
| Current liabilities | $312.5M | $436.7M |
| Current portion of long-term borrowings | $149.6M | $313.5M |
| Lease liabilities (current) | $24.9M | $26.5M |
| Derived metrics | ||
| Free cash flow | $198.5M | $208.6M |
| Operating margin | 41.8% | 21.0% |
| Net margin | 30.3% | 20.0% |
| Return on equity | 15.9% | 10.7% |
| Cash conversion ratio | 1.19× | 2.12× |
| Capex coverage | 4.00× | 4.13× |
| Other reported items | ||
| Adjustments For Decrease Increase In Inventories | $0 | -$400.0K |
| Adjustments For Decrease Increase In Trade Account Receivable | -$11.4M | -$17.1M |
| Adjustments For Depreciation and Amortisation Expense | $22.1M | $173.8M |
| Adjustments For Gain Loss On Disposals Property Plant and Equipment | $0 | -$600.0K |
| Adjustments For Gains Losses On Change In Fair Value of Derivatives | $3.8M | $2.9M |
| Adjustments For Increase Decrease In Trade Account Payable | -$11.2M | $13.3M |
| Adjustments For Losses Gains On Disposal of Noncurrent Assets | $0 | -$49.7M |
| Adjustments For Undistributed Profits of Investments Accounted For Using Equity Method | $0 | $400.0K |
| Adjustments For Unrealised Foreign Exchange Losses Gains | $8.8M | $600.0K |
| Basic Earnings Loss Per Share From Continuing Operations | $0.94 | $0.32 |
| Cancellation of Treasury Shares | $0 | — |
| Cash Flows From Used In Financing Activities Continuing Operations | -$196.4M | -$317.5M |
| Cash Flows From Used In Financing Activities Discontinued Operations | $0 | $145.9M |
| Cash Flows From Used In Investing Activities Continuing Operations | -$55.1M | -$52.0M |
| Cash Flows From Used In Investing Activities Discontinued Operations | -$30.8M | -$59.0M |
| Cash Flows From Used In Operating Activities Continuing Operations | $264.7M | $263.0M |
| Cash Flows From Used In Operating Activities Discontinued Operations | $0 | $12.2M |
| Comprehensive Income Attributable To Owners of Parent | $213.6M | $157.6M |
| Contract Assets | $8.4M | $8.6M |
| Current Contract Liabilities | $22.1M | $13.7M |
| Current Tax Liabilities | $8.6M | $5.8M |
| Deferred Tax Assets | $8.5M | $400.0K |
| Depreciation Amortisation and Impairment Loss Reversal of Impairment Loss Recognised In Profit Or Loss | $22.1M | $171.5M |
| Diluted Earnings Loss Per Share From Continuing Operations | $0.94 | $0.32 |
| Effect of Exchange Rate Changes On Cash and Cash Equivalents | -$10.3M | -$8.5M |
| Equity and Liabilities | $2.31B | $2.22B |
| Income Taxes Paid Refund Classified As Operating Activities | -$6.0M | -$2.1M |
| Increase Decrease In Cash and Cash Equivalents | -$28.0M | -$15.9M |
| Increase Decrease Through Other Distributions To Owners | — | $119.8M |
| Increase Decrease Through Sharebased Payment Transactions | $400.0K | — |
| Increase Decrease Through Transactions With Owners | -$28.0M | -$217.3M |
| Interest Expense | $75.2M | $55.4M |
| Liabilities | $914.8M | $1.01B |
| Miscellaneous Other Operating Expense | $141.6M | $135.0M |
| Noncurrent Derivative Financial Assets | $0 | $7.5M |
| Noncurrent Derivative Financial Liabilities | $1.3M | $2.8M |
| Other Adjustments For Noncash Items | $5.2M | $1.6M |
| Other Cash Payments To Acquire Interests In Joint Ventures Classified As Investing Activities | $0 | $1.8M |
| Other Comprehensive Income | -$8.5M | $28.0M |
| Other Comprehensive Income Net of Tax Cash Flow Hedges | -$7.6M | $10.0M |
| Other Comprehensive Income Net of Tax Exchange Differences On Translation | -$500.0K | -$8.9M |
| Other Comprehensive Income Net of Tax Gains Losses On Remeasurements of Defined Benefit Plans | -$400.0K | $0 |
| Other Current Assets | $16.6M | $13.3M |
| Other Current Liabilities | $58.4M | $41.3M |
| Other Finance Income Cost | -$14.1M | $4.4M |
| Other Gains Losses | $0 | $0 |
| Other Inflows Outflows of Cash Classified As Investing Activities | -$1.6M | -$100.0K |
| Other Noncurrent Receivables | $30.2M | $0 |
| Payments To Acquire Or Redeem Entitys Shares | $0 | $75.2M |
| Proceeds From Government Grants Classified As Investing Activities | $12.7M | $6.4M |
| Proceeds From Sales of Property Plant and Equipment Classified As Investing Activities | $0 | $900.0K |
| Profit Loss From Continuing Operations | $222.1M | $82.9M |
| Profit Loss From Discontinued Operations | $0 | $46.7M |
| Provisions For Employee Benefits | $700.0K | $600.0K |
| Purchase of Treasury Shares | — | $95.2M |
| Reclassification Adjustments On Exchange Differences On Translation Before Tax | $0 | -$27.0M |
| Revenue From Interest | $5.3M | $2.8M |
| Trade and Other Payables To Trade Suppliers | $48.9M | $35.8M |
| Trade Receivables | $100.0M | $91.0M |
Methodology
Every line item above is a fact tagged in ODFJELL DRILLING LTD's annual report
filed in the European Single Electronic Format (ESEF) under the IFRS
taxonomy (ifrs-full) — the income statement, balance sheet
and cash-flow statement as the filer reported them. Values are shown
as-is, in the reporting currency (USD), without
rescaling; the row labels map to the underlying concept name (e.g.
Revenue → ifrs-full:Revenue, Operating profit →
ifrs-full:ProfitLossFromOperatingActivities, Diluted EPS →
ifrs-full:DilutedEarningsLossPerShare), and any concept
without a curated label is shown under “Other reported items” with its
de-camel-cased tag name. Only consolidated, default-member facts are
shown (segment / dimensional breakdowns are excluded).
“Derived metrics” (free cash flow, margins, ROE, …) are computed from those facts by the same model the U.S. financials pages use — not tagged by the filer.
Source: machine-readable OIM xBRL-JSON aggregated by filings.xbrl.org (XBRL International). Entity identity is resolved by LEI via the public-domain GLEIF register. This is reference data, not investment advice.