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Viking Supply Ships AB (publ) Interim Report Q3 2021

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Press release 

11 November 2021

 

Despite that the overall activity within the offshore oil and gas industry is still subdued, the market conditions for OSVs in the North Sea saw a modest increase during the third quarter. Revenue for the third quarter was MSEK 79 (100), EBITDA was MSEK 0 (2), and the net result was MSEK -18 (-14). Year-to-date revenue was MSEK 226 (230), EBITDA was MSEK -38 (-69), and the net result was MSEK -91 (-146). During the quarter the Group decided on a rights issue, which was successfully completed shortly after the quarter, raising MSEK 98 in net proceeds.

 

THIRD QUARTER                

  • Total revenue was MSEK 79 (100)
  • EBITDA was MSEK 0 (2)
  • Result after tax was MSEK -18 (-14)
  • Result after tax per share was SEK -2.0 (-1.4)

 

YEAR-TO-DATE

  • Total revenue was MSEK 226 (230)
  • EBITDA was MSEK -38 (-69)
  • Result after tax was MSEK -91 (-146)
  • Result after tax per share was SEK -9.8 (-15.6)

 

SUMMARY OF EVENTS IN Q3

  • EBITDA for Q3 was MSEK 0 (2).
  • For the AHTS-fleet the average fixture rate in Q3 was USD 38,400 (35,300) and the average utilization was 62% (62). The average fixture rates for the PSV-vessels in Q3 was USD 14,700 (-), and the average utilization was 96% (-).
  • On September 13 an Extraordinary General Meeting was held, which decided to carry out a rights issue of approximately MSEK 101 before transaction costs of approximately 3 MSEK. On September 30, approximately 21 MSEK was subscribed for but not yet paid.

 

SUBSEQUENT EVENTS

  • The rights issue was fully completed at the end of October.

 

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 disclosure contains information that Viking Supply Ships AB is obliged to make public pursuant to the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 11-11-2021 08:30 CET.

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