Market conditions within offshore oil and gas continued to improve during the second quarter. Demand for AHTS vessels in the North Sea was low during April, but improved significantly during the rest of the quarter to the strongest levels seen in many years. Revenue for the second quarter was MSEK 203 (74), EBITDA was MSEK 81 (-14), and the net result was MSEK 61 (-31). Year-to-date revenue was MSEK 305 (147), EBITDA was MSEK 72 (-38) and the net result was MSEK 33 (-73).
- Total revenue was MSEK 203 (74)
- EBITDA was MSEK 81 (-14)
- Result after tax was MSEK 61 (-31)
- Result after tax per share was SEK 4.8 (-3.3)
- Total revenue was MSEK 305 (147)
- EBITDA was MSEK 72 (-38)
- Result after tax was MSEK 33 (-73)
- Result after tax per share was SEK 2.6 (-7.8)
SUMMARY OF EVENTS IN Q2
- EBITDA for Q2 was MSEK 81 (-14).
- For the AHTS-fleet the average fixture rate in Q2 was USD 80,200 (28,400) and the average utilization was 48% (57). The average fixture rates for the PSV-vessels in Q2 was USD 15,700 (15,700), and the average utilization was 100% (92).
- Driven by increased oil and gas drilling activity and a more positive market outlook for offshore support vessels, the Group in April reactivated the two ice-classed AHTS vessels that had been in layup. These two vessels, Loke Viking and Brage Viking, are currently active in the North Sea spot market.
- The Group’s management contract with The Swedish Maritime Administration (SMA) for its five ice breakers has been extended until year end 2023. After the end of the contract period SMA will take over the management of its ice breaker fleet inhouse, primarily for security related reasons.
- In February, the Group was awarded a seasonal contract for work in Russian waters. The contract was cancelled in May without any further liabilities to any of the parties in the contract. Viking Supply Ships is currently not pursuing further business opportunities in Russia.
- Mr. Tord Helland joined the Group as Chief Financial Officer from June 1, 2022.