London · Delayed Price · Currency is GBP · Price in GBX Ithaca Energy Earnings Call Transcripts
Fiscal Year 2025
-
Delivered record operational and financial results in 2025, with production, EBITDA, and cash flow all strong despite a net loss from EPL tax. Guidance for 2026 includes higher production, lower OpEx, increased CapEx, and a raised dividend payout range, supported by robust liquidity and hedging.
-
Q3 2025 saw strong operational delivery, with upgraded production guidance, robust cash generation, and disciplined cost control. Strategic investments and M&A strengthened the West of Shetland position, while a solid balance sheet and hedging support future growth and shareholder returns.
-
Delivered strong H1 2025 results with 124,000 barrels/day production, $1.1B EBITDAX, and upgraded full-year guidance. Two major acquisitions and operational efficiencies supported a $500M dividend target, with accelerated payments planned.
-
Record Q1 production and EBITDA were driven by operational efficiency, cost control, and successful acquisitions. Guidance was raised, dividend targets reaffirmed, and strong liquidity and hedging support ongoing growth and shareholder returns.
Fiscal Year 2024
-
Record 2024 performance with $1.4B Adjusted EBITDAX, strong production growth, and $500M dividend. 2025 guidance targets 105–115k bpd, $20/bbl OpEx, and continued capital discipline. Strategic M&A, robust liquidity, and a positive Rosebank outlook underpin future growth.
-
Q3 saw peak production above 120,000 BOE/day and strong cash flow, supported by the Eni combination and $2.25B refinancing. 2024 guidance and $500M dividend target are reaffirmed, with integration and synergy realization progressing well.
-
H1 2024 saw strong EBITDAX, robust liquidity, and a $100M dividend, despite short-term production issues now resolved. The Eni U.K. combination is on track for early Q4, supporting long-term growth, stable costs, and a strengthened balance sheet.
-
H1 2024 saw strong EBITDA and cash flow despite lower production, with the Eni U.K. asset deal set to double scale and drive future growth. Dividend targets remain ambitious, supported by robust liquidity, active hedging, and a diversified North Sea portfolio.