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Press release


Viking Supply Ships AB (publ) Interim report Q2 2017

Interim report

Second quarter

• Total revenue from continuing operations was MSEK 81 (217)

• EBITDA from continuing operations was MSEK -45 (62)

• Result after tax including discontinued operations was MSEK -99 (-128)

• Result after tax per share including discontinued operations was SEK -0.23 (-0.72)

Year to date

• Total revenue from continuing operations was MSEK 171 (450)

• EBITDA from continuing operations was MSEK -106 (127)

• Result after tax including discontinued operations was MSEK -101 (-168)

• Result after tax per share including discontinued operations was SEK -0.25 (-0.95)

Summary of events in Q2

• EBITDA for Q2 from continuing operations was MSEK -45 (62).

• The average fixture rate in Q2 was USD 22,000 (51,400) for the AHTS fleet and USD 0 (0) for the PSV fleet. The average utilization in Q2 was 40% (68) for the AHTS fleet and 0% (0) for the PSV fleet.

• Shortly after the end of the second quarter, the process to re-flag seven AHTS vessels to NOR-flag was completed. All of the Groups’ AHTS vessels are now flying NOR-flag. Through a very positive dialogue with union representatives the Group has managed to keep close to all crew members employed on the vessels. As previously communicated this is a further step in streamlining the organization and to reduce the operational expenses, while at the same time also emphasizing the Groups’ focus on the harsh environment offshore market in general and the Norwegian Continental Shelf in particular.

Subsequent events

• Early in July 2017 Balder Viking and Vidar Viking was re-flagged to NOR.

Press and analyst conference

In conjunction with the publication of this interim report, an earnings call will take place on Friday 4 August, 2017 at 10.00 am.

Phone: +46 (0) 8 50520424

Password: Viking Q2

Please dial in 5-10 minutes before the call starts.

For further information, please contact:  

Ulrik Hegelund, CFO, ph. +45 41 77 83 97, e-mail ulrik.hegelund@vikingsupply.com 

Morten G. Aggvin, IR & Treasury Director, ph. +47 41 04 71 25, e-mail ir@vikingsupply.com 

Viking Supply Ships AB is the parent company of a Swedish shipping group with its main office in Gothenburg, Sweden. The Group conducts its business in four segments: Anchor Handling Tug Supply ships (AHTS), Platform Supply Vessels (PSV), Services and Ship Management. The business is focused within offshore and ice-breaking primarily in Arctic and subarctic areas. The Group has approximately 400 employees and its revenue for 2016 amounted to MSEK 760. The Company’s series B share is listed at Nasdaq Stockholm, Small Cap segment. For further information, please visit: www.vikingsupply.com.

This information is information that Viking Supply Ships AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on 4 August 2017.

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