Odfjell’s finance team and executive management hosted the 2024 Capital Markets Day in Oslo on May 13, drawing around 50 investors and analysts. The event featured comprehensive updates on market strategies, financial performance, and environmental, social, and governance (ESG) initiatives.
Key speakers included CEO Harald Fotland, CFO Terje Iversen, VP Finance & IR Nils Jørgen Selvik, CCO Bjørn Hammer, and Managing Director of Terminals, Adrian Lenning.
The event underscored Odfjell's commitment to safety amidst shifting trade patterns and geopolitical unrest.
Our diverse cargo base, spanning industries from cooking to construction, positions us to capitalize on expected global volume growth.
Financially, Odfjell has leveraged favorable market conditions to achieve record-strong results, leading to significant dividend payouts. Efforts to fortify the balance sheet and improve the COA portfolio were highlighted as measures to build resilience for future uncertainties.
Odfjell Terminals has seen significant improvements and organic growth, backed by locally funded capital expenditures, while Odfjell Tankers is exploring further tonnage opportunities, with about 20% of the global orderbook for chemical tankers linked to Odfjell today.
Our ongoing commitment to reducing emissions was also emphasized, with significant strides made in our decarbonization journey through innovative technologies.
Odfjell's 2024 Capital Markets Day highlighted Odfjell’s robust performance and strategic initiatives aimed at future growth and sustainability. With a focus on safety, financial resilience, and environmental responsibility, our company is well-positioned to navigate the challenges of the global market while continuing to deliver value to our stakeholders.
The following day, May 14, representatives from 16 Norwegian and international banks convened for Odfjell’s annual Bank Day. The event offered an in-depth update on Odfjell’s status and future expectations, coupled with opportunities for networking with industry colleagues and our executive management, finance, investor relations, and analysis teams.
As part of marking Odfjell's 110th anniversary, Chair Laurence Odfjell engaged in a conversation with Professor Stig Tenold from the Norwegian School of Economics (NHH), moderated by Finance Manager Henriette K. Bergesen. The discussion focused on the historical and future significance of shipping in Norway.
Professor Tenold highlighted shipping's pivotal role in Norway's economy, noting that before the mid-1970s oil boom, shipping accounted for 40-50% of the nation's export revenues. "Shipping has been in our bloodline," he remarked, emphasizing its enduring impact on Norwegian economic history.
Laurence Odfjell echoed this sentiment, underscoring the importance of innovation to our company’s sustained success. "I believe that the key component to our future success is continued innovation. It’s in our DNA," he stated.
He also highlighted the company’s deep expertise and the crucial support from partners throughout history.
"We are fortunate to have many partners that are forward-looking and supportive of this journey. We would not have been here from the start, in 1914 to today, had it not been for the support of our partners."
