Odfjell Drilling Ltd. Reports for the Third Quarter of 2025

06 Nov 2025 07:09 CET

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented:

“Q3 was another quarter of strong operational performances, delivering
record-breaking financial and operational results. This quarter, our team has
continued to convert our substantial contract backlog into revenue while setting
new benchmarks for efficiency and reliability across the industry.
"Looking ahead, we are well positioned to build on this momentum. With higher
average day-rate contracts already secured, our fleet is fully committed through
the end of 2026, and we expect to extend this visibility further in the near
term.
"As our balance sheet continues to strengthen, supported by strong contract
coverage and disciplined cost management, we remain confident about the future.”


Q3 Highlights:
Strong Financial Results
• Revenue of USD 234 million
• EBITDA of USD 119 million
• Net Profit of USD 55 million

Exceptional Operational Performance
• 99% Financial Utilisation, adding to the Company's 10-year average of 97%
financial utilisation
• Deepsea Stavanger achieved a new industry milestone, drilling over 45,000
metres and completing the longest exploration well ever
• Four owned rigs awarded DNV's Abate (Power+) notation, reflecting best
industry practices in greenhouse gas abatement for offshore units

Increased Dividends To Shareholders Whilst Deleveraging
• Dividend increased to 20 cents per share from 18 cents per share
• Total Q3 dividend of USD 48 million
• Leverage ratio of 1.2x
• Equity Ratio of 65%
• Available liquidity of USD 209 million

Fleet Sold Out Until End Of 2026, Positive Market View Maintained
• Harsh environment market remains well balanced
• Total order backlog of USD 1.5bn with all units sold out until at least the
end of 2026
• Advanced discussions ongoing with several clients to add backlog in near
future

Chief Executive Officer Odfjell Drilling AS Kjetil Gjersdal, Chief Financial
Officer Odfjell Drilling AS Ørjan Lunde and Investor Relations Officer James
Crothers will be hosting a webcast and Q&A session at 2:00pm CET to discuss the
results.
Stakeholders can either use the following link for the webcast or listen via
telephone using the details below.

Webcast details:
https://brrmedia.news/ODL_Q3_25

Conference call:
USA Local: +1 786 697 3501
Norway Local Oslo: 800 19 458
UK-Wide: +44 (0) 33 0551 0200
Password (if prompted) Quote Odfjell Drilling Q3 Results when prompted by the
operator.

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7495 067 684
jchu@odfjelldrilling.com
London, United Kingdom
06 November 2025
Odfjell Drilling Ltd

This information is published in accordance with the requirements of the Oslo
Børs Rule Book II section 4.2.4 (1) no. 3 and is subject to the disclosure
requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

658882_ODL_Report_for_the_3rd_quarter_of_2025_202511060643.pdf
658882_ODL_Q3 2025 Presentation.pdf
658882_Q3 2025 Results Press Release.pdf