The market for AHTS-vessels started out with more activity than expected after a soft period in the fourth quarter of 2023. Contracts for some of the vessels outside the North Sea in the beginning of 2024 resulted in improved utilization for the fleet. The North Sea spot market has throughout the quarter been volatile, but Viking Supply Ships has by an extended geographical market scope achieved higher utilization on its vessels compared to same period last year. The utilization was higher despite the fact that we had more available vessels in operation in 2024 as two new vessels were added to the AHTS-fleet at the end of 2023. However, fleet-vide average day-rate was lower in the first quarter 2024 compared to the same period the year before.

FIRST QUARTER 2024

  • Total revenue was MSEK 229 (187)
  • EBITDA for continuing operations was MSEK 61 (38)
  • Result after tax including discontinued operations was MSEK 106 (9)
  • Result after tax including discontinued operations per share was SEK 8.1 (0.7)

SUMMARY OF EVENTS IN Q1 2024

  • EBITDA for Q1 was MSEK 61 (38).
  • The average fixture rates in Q1 for the AHTS-fleet was USD 44,400 (56,400) and the average utilization was 65% (64).
  • Andreas Viking commenced by end of January on a contract in Australia with a fixed period of 14 months and with 5 times 1 month option periods.
  • As part of an agreement with SMA, Viking Supply Ships was called upon for total 60 days of escort and icebreaking services in northern Baltic Sea.
  • Viking Supply Ships terminated the management agreement on the partly owned PSV-vessels and executed a put option in the shares in the company owning the vessels. The transaction gave a capital gain of MSEK 97 and a cash release of MSEK 194.

For further information, please contact:

Trond Myklebust, CEO, ph. +47 95 70 31 78, e-mail trond.myklebust@vikingsupply.com or;
Tord Helland, CFO, ph. +47 40 63 15 75, e-mail tord.helland@vikingsupply.com

BRIEFLY ABOUT VIKING SUPPLY SHIPS

Viking Supply Ships AB is a leading provider of offshore anchor handling and ice-breaking services. Its fleet of high-end AHTS vessels is capable of working in the harshest and most demanding environments in the world. The Company also has full management for the five Swedish state owned ice-breakers (Swedish Maritime Administration). The Company’s series B share is listed at Nasdaq First North Growth Market Stockholm. www.vikingsupply.com

This information is information that Viking Supply Ships AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-23 08:30 CEST.

Attachments

Viking Supply Ships AB (publ) Interim Report Q1 2024

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