The expected uplift in the activity during first quarter of 2023 compared to the last quarter of 2022 started already in mid- January and lasted for most of the period. The uplift was driven by increased rig- activity and project work in the North Sea and other regions, which affected our utilization and fixture rates and led to a positive result for the quarter.

FIRST QUARTER

  • Total revenue was MSEK 187 (102)
  • EBITDA was MSEK 35 (-9)
  • Result after tax was MSEK 9 (-28)
  • Result after tax per share was SEK 0.7 (-2.2)

SUMMARY OF EVENTS IN Q1

  • EBITDA for Q1 was MSEK 35 (-9).
  • For the AHTS-fleet the average fixture rate in Q1 was USD 56,400 (40,400) and the average utilization was 64% (57). The average fixture rate for the PSV-vessels was USD 16,900 (14,700), and the average utilization was 100% (100).
  • In January 2023, Viking Supply Ships secured a 38 days icebreaking contract with SMA for one of the ice-classed AHTS-vessels. The contract commenced in the beginning of February 2023.
  • Viking Supply Ships has entered an agreement with Ocean Yield AS to charter the two 2013 built AHTS Vessels, Far Senator and Normand Statesman, for a period of five years, with options to buy the vessels during the charter, as well as an obligation at the end of the term.

SUBSEQUENT EVENTS

  • At the Annual General Meeting held in April the Deputy Chairman and one of the Company’s founders, Folke Patriksson, resigned from the Board after more than 50 years’ service. Petter Orvefors was elected as new Board member. We would like to take the opportunity to thank Folke Patriksson for his dedicated and valuable service to the company.
  • In April the annual general meeting resolved, in accordance with the proposal of the Board of Directors, to approve a related party transaction regarding a consultancy agreement related to the company's principal shareholder Kistefos AS.

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 and ice-breaking services, with activities primarily in Arctic and subarctic areas. 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 2023-05-23 08:30 CEST.

Attachments

Viking Supply Ships (publ) Interim Report Q1 2023

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