oFjord1 has maintained reliable and safe operations while fulfilling its responsibilities as a provider of critical transport infrastructure in coastalNorway . o Revenue in the first quarter amounted toNOK 736 million , an increase of 6 per cent from the same quarter last year. The increase is mainly attributable to index regulation of ferry routes and infrastructure revenues. o EBITDA in the first quarter totalledNOK 182 million , and the EBITDA margin declined to 25 per cent from 29 per cent in the same quarter last year. This mainly reflects higher fuel prices and somewhat higher maintenance activity than in the same quarter in 2021. o Investments amounted toNOK 141 million in the first quarter, mainly related to infrastructure projects and rebuilding of vessels. o Net interest-bearing debt (NIBD) stood atNOK 4,966 million as per31 March 2022 , down 2 per cent from the previous quarter. The company has lower investment commitments going forward and expects improving operating cash flows, and NOx compensation for electric vessels. oFjord1's long-term contract portfolio ofNOK 20.3 billion before index regulations and the transition towards low-emission vessels provide a solid base for further development of the company. "Fjord1 continues to progress the electrification of new vessels and onshore infrastructure. Completion of electric infrastructure progressed well in the first quarter and an increasing share of our ferry routes are now operating fully electric. With approximately 43 per cent of the portfolio as hybrid-electric ferries,Fjord1 is one of the most environmentally friendly ferry companies worldwide," says CEODagfinn Neteland inFjord1 . OutlookFjord1 is confident that there will continue to be a strong demand for safe, environmentally friendly, and reliable transport in coastal regions in the future.Fjord1 continuously assesses new tender opportunities in the Norwegian market, as well as opportunities outside ofNorway .Fjord1's strong contract portfolio is worthNOK 20.3 billion through 2034, excluding options and index regulation, which offers a solid platform for profitable growth. Going forward,Fjord1 remain committed to reduction of emissions and electrification ofNorway's fjord crossings. As the onshore electrification programme progresses and an increasing share of ferries operate fully electrical, the overall costs are expected to stabilise at a lower level, positioningFjord1 for improved profitability. Please find enclosed the interim report for the first quarter 2022. The material is also available on https://www.fjord1.no/Investor-Relations/Rapportar-og-pressemeldingar/Rapportar. This information is subject to a disclosure duty pursuant to section 5-12 of the Securities Trading Act. Contacts CEODagfinn Neteland ,Fjord1 AS dagfinn.neteland@fjord1.no +47 913 71 071 or CFOAnne-Mari Sundal Bøe ,Fjord1 AS anne.mari.sundal.boe@fjord1.no +47 902 78 906 AboutFjord1 Fjord1 aims to be the safest and most attractive provider of environmentally friendly and reliable transport for customers, clients and partners.Fjord1 is a leading player in the Norwegian ferry market, with close to 80 ferries. The company also operates passenger boat services and has interests in the catering and tourism industries. More information at www.fjord1.no
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