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Press release


Viking Supply Ships AB (publ) Interim report Q2 2023

After a promising start of the year for the North Sea AHTS spot market, with a stronger Q1 than seen for many years, the market softened in April. Throughout the second quarter the market has been softer and more volatile but with some periods with better rates and utilization. The weak market has been driven by increased vessel availability in the North Sea, at the same time as expected projects have been delayed or cancelled.

SECOND QUARTER

  • Total revenue was MSEK 151 (203)
  • EBITDA was MSEK 21 (81)
  • Result after tax was MSEK -6 (61)
  • Result after tax per share was SEK -0.4 (4.8)

YEAR-TO-DATE

  • Total revenue was MSEK 321 (305)
  • EBITDA was MSEK 56 (72)
  • Result after tax was MSEK 3 (33)
  • Result after tax per share was SEK 0.3 (2.6)

SUMMARY OF EVENTS IN Q2

  • EBITDA for Q2 was MSEK 21 (81).
  • For the AHTS-fleet the average fixture rate in Q2 was USD 50,400 (80,200) and the average utilization was 44% (48). The average fixture rate for the PSV-vessels was USD 17,600 (15,700), and the average utilization was 100% (100).
  • In the second quarter Viking Supply Ships carried out a right issue of 287.783 shares to companies affiliated with the company’s principal shareholder, Kistefos AS. The shares were issued in lieu of payment for services rendered in connection with the acquisition of Statesman and Senator, and completed in accordance with the resolution made by the Annual General Meeting in April 2023.

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