Viking Supply Ships AB (publ) Interim Report Q2 2021

Press release 

12 August 2021

The activity within the OSV industry has throughout the second quarter continued to be adversely impacted by the reduced investments within offshore oil and gas. Revenue for the second quarter was MSEK 74 (60), EBITDA was MSEK -14 (-34), and the net result was MSEK -31 (-54). Year-to-date revenue was MSEK 147 (130), EBITDA was MSEK -38 (-71) and the net result was MSEK -73 (-132).

SECOND QUARTER

• Total revenue was MSEK 74 (60)
• EBITDA was MSEK -14 (-34)
• Result after tax was MSEK -31 (-54)
• Result after tax per share was SEK -3.3 (-5.8)

YEAR-TO-DATE 

• Total revenue was MSEK 147 (130)
• EBITDA was MSEK -38 (-71)
• Result after tax was MSEK -73 (-132)
• Result after tax per share was SEK -7.8 (-14.2)

SUMMARY OF EVENTS IN Q2

• EBITDA for Q2 was MSEK -14 (-34).
• For the AHTS-fleet the average fixture rate in Q2 was USD 28,400 (23,100) and the average utilization was 57% (28). The average fixture rates for the PSV-vessels in Q2 was USD 15,700 (-), and the average utilization was 92% (-).
• 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 operated in the spot market before commencing on the contract with Vår Energi shortly after the end of the second quarter.   

SUBSEQUENT EVENTS

• The Board has decided to convene an Extraordinary General Meeting on September 13, 2021 with a proposal for a rights issue of approximately MSEK 101 before issue costs which are expected to amount to approximately 3 MSEK.

FOR FURTHER INFORMATION, PLEASE CONTACT

Trond Myklebust, CEO, ph. +47 95 70 31 78, e-mail [email protected]

Morten G. Aggvin, CFO, ph. +47 41 04 71 25, e-mail [email protected]

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 15:00 CET on 12 August 2021.