11/20/2020 | Press release | Distributed by Public on 11/20/2020 00:38
Today, the Board of Directors of The Drilling Company of 1972 A/S ('Maersk Drilling') has adopted the trading statement for the third quarter of 2020 (Q3 2020):
Performance highlights for Q3 2020 (Q2 2020 in brackets)
The full-year guidance for 2020 from 7 May 2020 is revised as follows:
The guidance reflects the current contract backlog with no additional contracts impacting 2020 as well as an expectation of continued limited operational impact from COVID-19 although certain specific COVID-19 related costs reported as special items are expected.
CEO Jorn Madsen quote
'In the third quarter, we continued to deliver as expected, and we are now adjusting our guidance towards the higher end of the previously announced range. We have continued our cost discipline to support both our short- and long-term profitability, and I am truly proud of our people's relentless efforts to uphold a strong operational performance and secure new contracts under these unprecedented circumstances. We start seeing increased market activity with many ongoing tenders and customer dialogues. We also launched our sustainability strategy with clear emissions reduction targets in line with the Paris Agreement. This has been well received by our customers as it supports them in their journeys towards emissions reductions.'
In connection with the release of the Q3 2020 trading statement, a conference call for investors and analysts is scheduled today at 10:00 (10:00 a.m.) CET. On the call, CEO Jorn Madsen and CFO Jesper Ridder Olsen will present the Q3 2020 trading statement. The presentation will be followed by a Q&A session.
The conference call can be followed live via webcast here.
The presentation slides for the conference call will be available beforehand here.
A replay of the conference call will be available afterwards on the Investor Relations site.
For further information, please contact:
Head of Investor Relations
+45 2328 5733
Head of Media Relations
+45 2790 3102