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Viking Supply Ships AB (publ) Interim Report Q4 2020

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The COVID-19 pandemic continued to adversely impact the global offshore industry and Viking Supply Ships during the fourth quarter. Revenue for the fourth quarter was MSEK 56 (156), EBITDA was MSEK -32 (63), and the net result was MSEK -45 (55). Year-to-date, revenue was MSEK 286 (504), while EBITDA was MSEK -101 (114), and the net result was MSEK -191, down from MSEK 52 in 2019.

FOURTH QUARTER

  • Total revenue was MSEK 56 (156)
  • EBITDA was MSEK -32 (63)
  • Result after tax was MSEK -45 (55)
  • Result after tax per share was SEK -4.8 (5.9)

YEAR-TO-DATE

  • Total revenue was MSEK 286 (504)
  • EBITDA was MSEK -101 (114)
  • Result after tax was MSEK -191 (52)
  • Result after tax per share was SEK -20.5 (5.5)

SUMMARY OF EVENTS IN Q4

  • EBITDA for Q4 was MSEK -32 (63).
  • The average fixture rate in Q4 was USD 14,000 (45,100) and the average utilization was 48% (70).
  • Towards the end of the quarter, Loke Viking was put in warm lay-up.

SUBSEQUENT EVENTS

  • Shortly after the quarter, Andreas Kjøl took on the position as CCO of Viking Supply Ships. Mr. Kjøl has 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.
  • Shortly after the quarter, the Group took delivery of the first of two ice-classed PSVs under construction at 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 North Sea fleet. The first vessel has been fixed on a term contract with Wintershall on the Norwegian continental shelf and will commence the contract upon arrival in the North Sea during February.

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 15 February 2021.

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