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Viking Supply Ships AB (publ) Interim Report Q3 2020

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As previous quarters, the financial net result for the third quarter was negatively impacted by low oil price and the COVID-19 situation, which has had a significant adverse effect on the global economic activity and outlook. Revenues for the third quarter was MSEK 100 (159), EBITDA was MSEK 2 (67), and the net result was MSEK -14 (33). Year-to-date, revenue was MSEK 230 (348), while EBITDA was MSEK -69 (51), and the net result was MSEK -146, down from MSEK -3 in the corresponding period in 2019.

THIRD QUARTER

  • Total revenue was MSEK 100 (159)
  • EBITDA was MSEK 2 (67)
  • Result after tax was MSEK -14 (33)
  • Result after tax per share was SEK -1.4 (3.5)

YEAR-TO-DATE

  • Total revenue was MSEK 230 (348)
  • EBITDA was MSEK -69 (51)
  • Result after tax was MSEK -146 (-3)
  • Result after tax per share was SEK -15.6 (-0.3)

SUMMARY OF EVENTS IN Q3

  • EBITDA for Q3 was MSEK 2 (67).
  • The average fixture rate in Q3 was USD 35,300 (39,300) and the average utilization was 62% (89).

SUBSEQUENT EVENTS

  • During the second quarter the Group entered into a medium-term contract for Loke Viking with a major oil company in a harsh environment region. The contract was expected to commence in mid-November, with total duration being up till 165 days including options. Unfortunately, the client cancelled this contract prior to commencement.

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 12 November 2020.

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