Svitzer Group A/S

Welcome, everyone, to our webcast presentation for annual report 2024. Today, I will say a few words, and then I will hand it over to Knut Winkler, the CFO in Twitter, and then in the end, we'll host a Q&A session, so an opportunity to ask questions. So I think we should just dive into it. So in general, 2024 was a good year for Switzer. We achieved the revenue growth of 9% in constant exchange rate and increased our EBITDA margin to 29.9%, so really positive. We also had a positive revenue in free cash flow and are proposing a dividend payment of 8 kroner per share. Overall, it was a very busy year for Switzer. As you know, we had a demerger from Maersk and a separate listing. And on top of that, we also implemented a number of new contracts. So we started up operations in new operations in Greece, in Brazil, and in Australia. So big contracts coming on stream. We took delivery of our first transverse tuck. It's a new tuck design that we put into operations in the Netherlands. And I'll have more on that in the next slides, but so far it looks very good on its performance. We also ordered the world's first battery methanol truck, also designed on the transverse truck design. And as I said, we started up operations in numerous places and also took delivery of four nuclear vessels to the new operations in Port Hedland in Australia. On the growth side, for new growth, we were awarded a five-year contract with two trucks in the Panama Canal that will start up in mid this year. And then after the year, so in January, we were awarded a big contract for the Oman LNG operation with four trucks that will start up in 2026. So two significant growth projects secured. We also increased our presence in Brazil, taking delivery of new trucks and entering the port of Itaqui. And we secured all the contract renewals we could secure in terminal towage. So overall, a successful year that we are very happy with. One of the things we're also proud about, as I said, is taking delivery of our first transfer truck. The transfer truck design is a new design that has several benefits. First of all, it's more efficient, so you can produce more force on the line, more force to push or pull the ships you assist with, with less power, so lower fuel consumption, meaning lower CO2 consumption, but also, of course, lower running costs. And then the way it's designed also means it has improved the safety and maneuverability capabilities, and it can also bring ships in and out faster in ports. so so we are very happy with this development we took delivery of the first one we have two more coming that will go into operations in newcastle in australia in the next few months and then we have another on top of that five on order so so very good sign and so far we've received very good feedback from customers in portsmouth I mentioned we won two significant contracts, and we also won some smaller contracts we're not highlighting here. One is for the Panama Canal Authority as the first private operator or provider of tugboats in the Panama Canal, five-year contracts with technical management. And then the other one, Oman LNG, nine-year contract for four tugs for the Oman LNG export terminals. So good big contracts that we are happy with that we're now building trucks for and we'll start up as mentioned this year for Panama and the startup for 26 for Oman. If we dive a little bit down into our regions, then if we start with Australia, we saw a significant revenue increase and also a good EBITDA increase. partly because of the terminal torch operations I mentioned, for example, in Port Hedland started up, and partly because of our tariff increases in harbor torch. We didn't see an increase in growth, but that was more than offset by price increases and the growth. Sorry, we didn't see an increase in the number of top jobs in our harbor torch operations, but we saw the price increase and we had the growth in the terminal torch business. If we turn to Europe, Then we've also seen an 11% revenue increase and a 16% EBITDA increase. The year started off a little bit weak in Europe, but we caught up somewhat in the end of last year. So overall, a positive development for Europe. There is still more to do, especially in the UK, on making that, reaching the profitability we like to see in operations. And we have a We have plans for that that we're implementing, and we started seeing the benefits of that in quarter four. If we turn to Americas, we grew revenue 9% and EBITDA 8%, which actually have to be considered that 23 was also a really good year for Americas. So overall, we're seeing good growth. We had some special jobs, so jobs that are outside the normal harbor torch and terminal torch scope. We won a few new contracts for supporting import terminals for LNG, and overall saw good growth. Also, actually, an improvement in Argentina, where we're seeing inflation coming down. In EMEA, which is the region that is primarily almost exclusively terminal storage, we also saw revenue growth and EBITDA growth. So overall, and that was very much due to both the harbour torch volume in the one harbour torch port we have, it's in Morocco, went up. And of course, also the tariff escalation, so the price increase in terminal torch helped drive the growth.

Good.

I will then hand it over to Knud for more details on our financial performance.