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Viking Supply Ships AB (publ) Interim Report Q1 2021

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Press release

21 May 2021

During the first quarter, the activity within the OSV segment continued to be subdued because of the reduced investment levels within the offshore oil and gas industry. Revenue for the first quarter was MSEK 73 (70), EBITDA was MSEK -24 (-37), and the net result was MSEK -42 (-78).

FIRST QUARTER

  • Total revenue was MSEK 73 (70)
  • EBITDA was MSEK -24 (-37)
  • Result after tax was MSEK -42 (-78)
  • Result after tax per share was SEK -4.5 (8.4)

SUMMARY OF EVENTS IN Q1

  • EBITDA for Q1 was MSEK -24 (-37).
  • The average fixture rate in Q1 was USD 30,400 (31,300) and the average utilization was 42% (31).
  • During Q1, the group hired a new CCO. The new CCO an extensive track record within the harsh environment offshore market and was until 2016 employed in the Group as Project Director and Managing Director of Viking Ice Consultancy.
  • The Group took delivery of the first of two ice-classed PSVs, Coey Viking, from Remontowa Shipyard in Poland. The vessels are high specification, large PSVs with dual-fuel and hybrid capabilities. With their reduced carbon footprint, the vessels will be attractive addition to the Group’s fleet. Coey Viking was fixed on a term contract with Wintershall on the Norwegian continental shelf and commenced the contract upon arrival in the North Sea during February.

SUBSEQUENT EVENTS

  • In mid-April the Group took delivery of the second of the two ice-classed PSV-vessels, Cooper Viking, from Remontowa Shipyard in Poland. Prior to its delivery, Cooper Viking was fixed on a term contract for Vår Energi on the Norwegian continental shelf with commencement in June. The vessel will operate in the spot market for a short period before commencing on the contract with Vår Energi.  

FOR FURTHER INFORMATION, PLEASE CONTACT

Trond Myklebust, CEO, ph. +47 95 70 31 78, e-mail trond.myklebust@vikingsupply.com

Morten G. Aggvin, CFO, ph. +47 41 04 71 25, e-mail morten.aggvin@vikingsupply.com

Viking Supply Ships AB is a world leading company within offshore and ice-breaking services, with activities primarily in Arctic and subarctic areas. The Company also has the operational and technical management for the five Swedish state owned ice-breakers (Swedish Maritime Administration). The Company’s series B share is listed at Nasdaq Stockholm, Small Cap segment. www.vikingsupply.com. 

This information is information that Viking Supply Ships AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication at 08:30 CET on 21 May 2021.


 

 

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