Viking Supply Ships Financial Report January-June 2012
In connection with the distribution of the TransAtlantic interim report January-June 2012, a separate financial report is published on Viking Supply Ships, one of TransAtlantic’s business areas and also a fully owned daughter company.
TransAtlantic is organized in two business areas; Industrial Shipping with main operations in Northern Europe and the Baltic Sea through bulk-, container- and RoRo vessels, and Viking Supply Ships operating within ice breaking and offshore mostly in Arctic and subarctic areas. Industrial Shipping has its headquarters in Gothenburg, Sweden and Viking Supply Ships has its headquarters in Copenhagen, Denmark. The split of TransAtlantic into two separate companies, Industrial Shipping and Viking Supply Ships, has started and anticipates to be finalized in 2013, at the earliest.
Major events within Viking Supply Ships during January-June 2012
- Total revenue for Q2 2012 amounted to 253 MNOK, with an EBITDA of 43 MNOK. Total revenue for H1 2012 amounted to 411 MNOK, with an EBITDA of 53 MNOK.
- As expected the Q2 results were disappointing, reflecting a soft spot market for the AHTS fleet and a lack of fresh term activity, however Q2 results have substantially improved compared with Q1 2012 due to seasonal and improved operations effects.
- Viking Supply Ships has a clear focus on increasing the number of vessels on term contracts and for most of H2 4 AHTS vessels will be on term contracts compared to 1 AHTS vessel at the beginning of 2012. This will improve the earnings stability.
- The average utilization for the AHTS fleet in Q2 was 72 % and 70 % for the PSV fleet.
- During March Viking Supply Ships issued a 5 year senior unsecured bond loan in the Norwegian capital market totalling 300 MNOK. The bond was listed on Oslo ABM on June 28th.
In conjunction with the publication of the TransAtlantic interim report, a teleconference will be held on Wednesday Aug 8, 2012 at 10 am (GMT + 1) with TransAtlantic’s President and CEO, Henning E. Jensen, CFO Heléne Mellquist and CEO Viking Supply Ships Christian W. Berg.
The phone conference will be held in English and as a support, there be a downloadable presentation on the company’s website: www.rabt.se/Investor Relations/Interim Report 2.
Please dial in 5-10 minutes prior to start using the number and confirmation code below:
Phone number: +47 2350 0486
Confirmation code: 647 6866
The TransAtlantic interim report and the VSS Financial report are both available in their entirety on TransAtlantic’s website www.rabt.se
Rederi AB TransAtlantic is a leading Swedish shipping company with headquarters in Gothenburg, Sweden and additional offices in Europe. The company is organized into two business areas: Industrial Shipping and Viking Supply Ships. The company has about 900 employees and the turnover in 2011 was MSEK 2,989. The Industrial Shipping business area consists of four divisions: Bulk, Container, RoRo Baltic and Short Sea Bulk. The company’s B-shares are listed on the NASDAQ OMX Stockholm, Small Cap segment. www.rabt.se
TransAtlantic is obliged to make this information public according to the Financial Markets Act and/or the Financial Instruments Trading Act (Sw: lagen om värdepappersmarknaden and lagen om handel med finansiella instrument). The information was submitted for publication on August 8, 2012 at 08.31 am.