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Financial report 2015 2Q

CEO Comments Q2 2015

The second quarter brought a positive result for the group. Within the offshore part of the company, Viking Supply Ships A/S shows a positive development despite overall challenging market conditions.For the second quarter, profit after tax for the Group was MSEK 36 (MSEK 34).

(Excerpt only, full version in report)

Despite reduced revenues, Viking Supply Ships A/S saw increased profit compared to same quarter in 2014. Revenue was negatively impacted by the services segment, as the consultancy contract for Viking Ice Consultancy in the Kara Sea was cancelled. Both rate levels and utilization for the AHTS fleet increased compared to corresponding period in 2014. During the quarter, Tor Viking completed a charter with ENL in Sakhalin and commenced a seasonal contract with Shell US in Alaska. The vessel is expected to return to the North Sea at the end of 2015. After the end of the quarter; VSS extended the contract for Njord Viking. The vessel is now firm till December 31, 2016, with options to extend the contract with 2 x 6 months. The total value of the extended period is about MSEK 270 when including the optional periods.
The PSV market was continuously weak during the second quarter. Despite more vessels being laid up, the market balance is still negative. As a result, both rates and utilization were reduced compared to second quarter in 2014.

The Services and Ship Management segments progressed as planned during the period, with a new seven year contract being signed with the Swedish Maritime Administration (SMA).
TransAtlantic AB has still been exposed to a challenging market during the second quarter, and further the result in the second quarter was impacted by costs related to the restructuring. 

The second quarter brought a positive result for the group.

Press release

Read the press release regarding the quarterly results.

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Earnings call Q1 2016

We will host a conference call where we present the quarterly results. 

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