Richard Barker
EVP & CFO at Noble
Q2 cash flow from operations was €216,000,000 net capital expenditures were €110,000,000 and free cash flow was €107,000,000 Included in the Q2 free cash flow is approximately €16,000,000 from the closing of this Virokka sale. The Meltem sale closed in early Q3 with a cash proceeds of approximately €25,000,000 As summarized on Page five of the earnings presentation slide, our total backlog as of August 5 stands at €6,900,000,000 which includes €1,100,000,000 that is scheduled for a revenue conversion for the remainder of the year, with €2,300,000,000 and €1,600,000,000 scheduled for conversion in 2026 and 2027, respectively. As a reminder, these figures exclude reimbursable revenue and revenue from ancillary services. We're very pleased with the progress of the Diamond integration and have now achieved our stated synergy cost target of 100,000,000 I'd like to echo Robert's earlier comments and thank our employees for their great work in achieving this milestone ahead of schedule. On fleet management, the moves outlined by Robert around the Globetrotter II, the Highlander and the Reacher highlights our commitment to managing the business to maximize cash flow.