The shipping company Viking Supply Ships reported both lower sales and EBITDA in the first quarter compared with the same period last year. All figures refer to continuing operations.

Revenue fell 7.5 percent to SEK 147 million (159).

"Revenue decreased slightly compared with the same period last year due to a weaker market. This, combined with inflation-driven cost increases and lower utilization of the fleet, are the main reasons for the decline in EBITDA," said CEO Trond Myklebust.

EBITDA amounted to SEK 38 million (62), with an EBITDA margin of 25.9 percent (39.0).

Operating profit amounted to SEK 6 million (30), with an operating margin of 4.1 percent (18.9).

Profit after tax was SEK -24 million (11), and per share SEK -1.8 (0.9).

Cash flow from operating activities amounted to SEK 52 million (-116).

The following comment is provided under outlook: "The transfer of vessels between regions is expected to reduce the supply of vessels in the North Sea area in the coming months. On the demand side, the number of semi-rigs in the UK sector is a cause for concern. However, the positive development in the Norwegian sector may compensate for reduced UK activities. Project activities continue to look promising for the coming season and the AHTS market is expected to strengthen in the coming months, albeit with expectations of high volatility in the spot market," says Myklebust.

Viking Supply Ships, SEK millionQ1-2025 Q1 Change
Net sales 14 159 -
EBIT 38 62 -38.7
EBITDA margin 25 39
Operating profit 6 30 -80.0
Operating margin 4 18
Net profit- 11
Earnings per share, SEK-1.8 0
Cash flow from operating activities 5 -