The relatively good market conditions for AHTS- vessels from the first quarter continued into the second quarter of 2024. In the beginning of the quarter the North Sea spot market was volatile, but the market was tightening in the latter part of the quarter. In addition, term contracts outside the North Sea contributed to an increase in utilization and revenue compared to the same period last year. Furthermore, Viking Supply Ships had more vessels in operation in 2024 as two new vessels were added to the AHTS-fleet at the end of 2023.
SECOND QUARTER
- Total revenue was MSEK 279 (151)
- EBITDA for continuing operations was MSEK 95 (23)
- Result after tax including discontinued operations was MSEK 51 (-6)
- Result after tax including discontinued operations per share was SEK 3.8 (-0.4)
YEAR-TO-DATE
- Total revenue was MSEK 508 (321)
- EBITDA for continuing operations was MSEK 156 (60)
- Result after tax including discontinued operations was MSEK 157 (3)
- Result after tax including discontinued operations per share was SEK 11.9 (0.3)
SUMMARY OF EVENTS IN Q2
- EBITDA for continuing operation was in Q2 MSEK 95 (23).
- The average fixture rates in Q2 for the AHTS-fleet was USD 50,600 (50,400) and the average utilization was 74% (44).
SUBSEQUENT EVENTS
- Viking Supply Ships has in July 2024 signed a refinancing of the revolving credit facility. The new agreement, with improved pricing terms, has a final maturity date in second quarter of 2027.
- A decision is taken to outsource the management of the six AHTS vessels to the Sea1 Offshore Inc group. The initiative is expected to result in substantial cost savings effective from Q1 2025 to the benefit of all shareholders. Viking Supply Ships will retain its unique ice-competence and the shares of the company will remain listed on Nasdaq First North. The outsourcing is intended to be completed during the course of October 2024 and is subject to final documentation and required third party consents.
For further information, please contact:
Trond Myklebust, CEO, ph. +47 95 70 31 78, e-mail trond.myklebust@vikingsupply.com
Tord Helland, CFO, ph. +47 40 63 15 75, e-mail tord.helland@vikingsupply.com
BRIEFLY ABOUT VIKING SUPPLY SHIPS
Viking Supply Ships AB is a leading provider of offshore anchor handling and ice-breaking services. Its fleet of high-end AHTS vessels is capable of working in the harshest and most demanding environments in the world. The Company's series B share is listed at Nasdaq First North Growth Market Stockholm. www.vikingsupply.com
This information is information that Viking Supply Ships AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-08-20 08:30 CEST.
