Brooge Energy (BROG)2023-10-09 15:27Financial Data and Key Metrics Changes - Revenue for the first six months ending June 30, 2023, totaled 28.4 million for the same period in 2022 [10] - Gross profit for the first half of 2023 was 17.8 million in the first half of 2022, with a gross profit margin improvement to 82% from 63% [28] - Net profit for the first six months of 2023 was 0.42 per share, compared to 0.04 per share for the same period in 2022 [29] - Total equity attributable to shareholders was 105.1 million as of December 31, 2022 [11] Business Line Data and Key Metrics Changes - Revenue primarily consists of fixed storage and handling fees, with variable fees for ancillary services contributing to a lesser extent [10] - The company provided storage capacity of 1,001,388 cubic meters to various oil traders and producers [10] Market Data and Key Metrics Changes - The company is strategically located in a high-demand oil storage geography, which has been key to its growth and profitability [12] Company Strategy and Development Direction - The company plans to expand its storage facilities at the Fujairah terminal, aiming to become one of the largest independent oil storage facilities in the region [13] - The company is developing a Green Ammonia plant to contribute to global decarbonization targets, recognizing the potential of Green Ammonia as a clean carrier of Green Hydrogen [15] - A partnership with Siemens Energy is underway to build a photovoltaic solar farm to supply renewable energy for the Green Ammonia project [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the proposed acquisition by Gulf Navigation Holdings PJSC, which aims to enhance growth and provide integrated logistical services [18] - The proposed acquisition is still in the early stages, with due diligence being conducted [37] Other Important Information - The Board of Directors is searching for a permanent CEO while an office of the CEO has been established to temporarily assume the role [31] - The Green Ammonia project is expected to have a production capacity of up to 1,950 tons per day, with a focus on securing off-take agreements in Europe and Asia [34][35] Q&A Session Summary Question: How will public warrant holders be treated if the Gulf Navigation deal moves forward? - The treatment of public warrant holders will be discussed with advisors before and if a transaction occurs, as the proposal is still in the initial stages of evaluation [39]