Financial and operating highlights 3Q22 (3Q21 in brackets):- Operating revenues were
NOK 3 212 million (NOK 1 880 million) -
EBITDA was
NOK 1 083 million (NOK 279 million ) -
EBIT was
NOK 290 million (NOK 14 million ) -
Net result after tax was
NOK 393 million (NOK -157 million )
Segment highlights 3Q22 (3Q21 in brackets):Renewable Energy
- EBITDA
NOK 748 mill. (NOK 174 mill.) -
Continued high power prices
-
Generation 18% lower than P50 forecast due to low wind speed
-
Closing of the Borgå transaction, with a net liquidity effect of
NOK 1 748 mill. and EUR 305 Mill. in committed capital -
Significant uncertainty related to government taxation and fees in
Norway , the EU and the UK
Wind Service
- EBITDA
NOK 418 mill. (NOK 264 mill.) -
Tern vessels with 99% (89%) utilization
-
Solid backlog of
EUR 473 mill. -
GWS with strong activity
-
UWL with 100% (100%) utilization
Cruise
- EBITDA
NOK -42 mill. (NOK -138 mill.) -
Three ships in operation
-
Occupancy of 73% (62%)
-
EBITDA influenced by low occupancy due to rebooking, high fuel cost and negative GBP/USD development
UK cruise market uncertainty going forward and continued high fuel costs.-
Impairment of
NOK 456 mill.
Renewable Energy
- EBITDA
NOK 748 mill. (NOK 174 mill.) - Continued high power prices
- Generation 18% lower than P50 forecast due to low wind speed
-
Closing of the Borgå transaction, with a net liquidity effect of
NOK 1 748 mill. andEUR 305 Mill. in committed capital -
Significant uncertainty related to government taxation and fees in
Norway , the EU and theUK
Wind Service
- EBITDA
NOK 418 mill. (NOK 264 mill.) - Tern vessels with 99% (89%) utilization
-
Solid backlog of
EUR 473 mill. - GWS with strong activity
- UWL with 100% (100%) utilization
Cruise
- EBITDA
NOK -42 mill. (NOK -138 mill.) - Three ships in operation
- Occupancy of 73% (62%)
- EBITDA influenced by low occupancy due to rebooking, high fuel cost and negative GBP/USD development
UK cruise market uncertainty going forward and continued high fuel costs.-
Impairment of
NOK 456 mill.
Other Investments
- EBITDA
NOK -42 mill. (NOK -21 mill.) -
EBITDA for NHST
NOK 15 mill. (NOK 28 mill.) - Fred. Olsen 1848, progressing several technologies and innovations within floating wind and floating solar in the quarter
- Fred. Olsen Investments, undertaken smaller investments within renewable energy related companies
Financial information
The unaudited Group accounts for 3Q22 comprise
The Group of companies' operating revenues in the quarter amounted to
EBITDA in the quarter was
Depreciation in the quarter was
An impairment charge was made in the quarter of
EBIT in the quarter was
Net financial items in the quarter were
Net Result in the quarter was
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https://mb.cision.com/Main/2031/3662896/1654048.pdf
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