In the fourth quarter of 2024, the market experienced fluctuating but overall decreasing market conditions. The varying levels of activity and rates were influenced by weather conditions and the availability of vessels. As usual, the North Sea AHTS market softened in the fourth quarter following the project season with vessels arriving back from projects, e.g. from Africa and Canada, which created downward pressure on rates. Towards the end of the quarter, there was a slight increase in activity on the Norwegian side.
FOURTH QUARTER
- Total revenue for continuing operations was MSEK 94 (58)
- EBITDA for continuing operations was MSEK -34 (-41)
- Result after tax including discontinued operations was MSEK -91 (-86)
- Result after tax including discontinued operations per share was SEK -6.9 (-6.6)
YEAR-TO-DATE
- Total revenue for continuing operations was MSEK 679 (359)
- EBITDA for continuing operations was MSEK 231 (63)
- Result after tax including discontinued operations was MSEK 111 (-88)
- Result after tax including discontinued operations per share was SEK 8.5 (-6.8)
SUMMARY OF EVENTS IN Q4
- EBITDA for continuing operation was in Q4 MSEK -34 (-41).
- The average fixture rates in Q4 for the AHTS-fleet was USD 36,200 (44,600) and the average utilization was 46% (33%).
- Sea 1 has secured a multi-well project together with Viking Supply Ships for 3 AHTS' in Australia, commencing in 1Q 2025. The duration for this contract is minimum 16 wells firm. Total work for Viking Supply Ships is estimated to be between 570 to 1000 vessel days, plus options. Exact number of days depends on the time spent on each well.
- Viking Supply Ships has secured a contract for four 100-ton heave-compensated offshore cranes, which will be installed on its fleet of ice classed AHTS vessels. The total investment for the project is estimated to slightly above 50 MUSD. Crane deliveries are set to begin in July 2026, with phased installation to follow.
For further information, please contact:
Trond Myklebust, CEO, ph. +47 95 70 31 78, e-mail trond.myklebust@vikingsupply.com
The Company's Certified Adviser is Eminova Fondkommission AB.
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 2025-02-20 08:30 CET.
