Aker BP ASA (OTCQX:AKRBF) Q1 2025 Results Conference Call May 7, 2025 2:30 AM ET
Company Participants
Karl Hersvik – Chief Executive Officer
David Tønne – Chief Financial Officer
Kjetil Bakken – Head, Investor Relations
Conference Call Participants
Vidar Skogset Lyngvaer – Danske
Sasi Chilukuru – Morgan Stanley
Teodor Sveen-Nilsen – Sparebank 1 Markets
John Olaisen – ABG
James Carmichael – Berenberg
Victoria McCulloch – RBC
Chris Wheaton – Stifel
Steffen Evjen – DNB
Mark Wilson – Jefferies
Karl Hersvik
Good morning, and welcome to Aker BP’s First Quarter 2025 presentation. As usual, I’ll start with a brief update together with our CFO, David Tønne, before we open for questions. But first, I want to take a moment to look at the bigger picture.
We are operating in an environment marked by increased uncertainty. Armed conflicts are ongoing, and political tensions have created uncertainty around the framework for international trade. This, in turn, is fueling concerns about the global economy and the outlook for energy demand. At the same time, we are seeing significant currency swings and heightened financial market volatility.
It is in the midst of this that Aker BP remains in a strong position. We have a robust balance sheet with high financial flexibility, industry-leading low operating costs, and we are investing in projects that are highly profitable and resilient to low oil prices. We have secured most of our foreign exchange exposure for the next two to three years at attractive levels. And we are, to a very limited degree, impacted by the turmoil around tariffs and trade. This puts us in a position to stay focused on what really matters: running our business efficiently, investing with discipline and creating long-term value for shareholders even in uncertain times.
In February, we hosted our annual strategy update where we
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