Edda Wind AS Logo

Edda Wind AS

ISIN: NO0010998529 | Ticker: EWIND | LEI: 5493005YFWCZLN6Q2I28
Sector: IndustrialsSub-Industry: Marine Ports & Services
Country: Norway

About Edda Wind AS

Company Description

Edda Wind provides service operation vessels and high-quality service to the global offshore wind industry, enabling our clients to generate renewable energy to meet the worlds growing energy needs.

The only pure-play operators in the offshore wind industry

Edda Wind is a provider of purpose-built Service Operation Vessels (SOV) and Commissioning Service Operation vessels (CSOV) to the global offshore wind market since 2015. The vessels accommodate wind turbine technicians and provide services during the commissioning and operation of offshore wind farms. The company owns and operates two vessels working for Ørsted, and operates one chartered frontrunner for a long term contract with Ocean Breeze. In addition, there is a newbuild program of two SOVs and four CSOVs, of which two SOVs and two CSOVs are committed on mid- to long term contracts with Vestas, Ocean Breeze, Siemens Gamesa and SSE. All vessels are managed by Østensjø Rederi AS.

Year founded

2015

Served area

Europe

Headquarters

Smedasundet 97, 5501 Haugesund – Norway

Financial statements

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Line item in (eur) 01.01.2020 01.01.2021 01.01.2022 01.01.2023
Assets N/A 151,327,000.00 305,602,000.00 351,138,000.00
Noncurrent Assets N/A 107,415,000.00 204,715,000.00 296,853,000.00
Ships N/A 71,431,000.00 73,611,000.00 66,714,000.00
Construction In Progress N/A 35,957,000.00 131,077,000.00 223,082,000.00
Deferred Tax Assets N/A 23,000.00 23,000.00 0.00
Other Noncurrent Assets N/A N/A 0.00 7,050,000.00
Current Assets N/A 43,912,000.00 100,886,000.00 54,285,000.00
Current Trade Receivables N/A 3,023,000.00 3,575,000.00 3,926,000.00
Other Current Receivables N/A N/A 0.00 1,153,000.00
Cash and cash equivalents 6,483,000.00 6,715,000.00 89,520,000.00 45,021,000.00
Current Derivative Financial Assets N/A N/A 0.00 71,000.00
Other Current Assets N/A 34,174,000.00 7,791,000.00 4,114,000.00
Equity And Liabilities N/A 151,327,000.00 305,602,000.00 351,138,000.00
Equity 34,470,000.00 63,183,000.00 184,332,000.00 183,680,000.00
Issued Capital N/A 9,000.00 644,000.00 644,000.00
Share Premium N/A 0.00 116,128,000.00 116,128,000.00
Noncurrent Liabilities N/A 79,330,000.00 110,545,000.00 146,013,000.00
Longterm Borrowings N/A 79,330,000.00 110,545,000.00 146,013,000.00
Current Liabilities N/A 8,814,000.00 10,724,000.00 21,446,000.00
Trade And Other Current Payables To Trade Suppliers N/A 1,751,000.00 1,555,000.00 3,017,000.00
Current Payables On Social Security And Taxes Other Than Income Tax N/A 32,000.00 96,000.00 85,000.00
Current Tax Liabilities Current N/A 48,000.00 0.00 0.00
Current Derivative Financial Liabilities N/A 598,000.00 91,000.00 0.00
Other Current Liabilities N/A 1,889,000.00 2,031,000.00 7,393,000.00
Line item in (eur) 01.01.2020/
01.01.2021
01.01.2021/
01.01.2022
01.01.2022/
01.01.2023
Other Income 398,000.00 484,000.00 1,496,000.00
Employee Benefits Expense 6,524,000.00 7,320,000.00 8,609,000.00
Depreciation Expense 3,060,000.00 3,169,000.00 3,195,000.00
Other Expense By Nature 3,505,000.00 10,914,000.00 13,248,000.00
Profit Loss From Operating Activities 4,789,000.00 3,013,000.00 3,374,000.00
Finance Income N/A 1,461,000.00 450,000.00
Finance Costs N/A 2,233,000.00 1,890,000.00
Profit Loss Before Tax 3,031,000.00 2,242,000.00 1,935,000.00
Income Tax Expense Continuing Operations 18,000.00 0.00 0.00
Profit (loss) 3,013,000.00 2,242,000.00 1,935,000.00
Profit Loss Attributable To Owners Of Parent N/A 2,242,000.00 1,935,000.00
Line item in (eur) 01.01.2020 01.01.2021 01.01.2022 01.01.2023
Profit (loss) N/A 3,013,000.00 2,242,000.00 1,935,000.00
Adjustments For Depreciation And Amortisation Expense N/A 3,060,000.00 3,169,000.00 3,195,000.00
Cash Flows From Used In Operating Activities N/A 10,311,000.00 6,765,000.00 9,225,000.00
Purchase Of Property Plant And Equipment Classified As Investing Activities N/A 8,531,000.00 93,476,000.00 92,012,000.00
Interest Received Classified As Investing Activities N/A 6,000.00 0.00 N/A
Cash Flows From Used In Investing Activities N/A -41,525,000.00 -67,512,000.00 -94,934,000.00
Proceeds From Issuing Shares N/A 0.00 90,131,000.00 0.00
Proceeds From Borrowings Classified As Financing Activities N/A 39,978,000.00 32,190,000.00 49,856,000.00
Repayments Of Borrowings Classified As Financing Activities N/A 4,556,000.00 4,497,000.00 6,859,000.00
Interest Paid Classified As Financing Activities N/A 1,156,000.00 1,101,000.00 1,776,000.00
Other Inflows Outflows Of Cash Classified As Financing Activities N/A -808,000.00 -1,187,000.00 -114,000.00
Cash Flows From Used In Financing Activities N/A 31,445,000.00 142,536,000.00 41,107,000.00
Effect Of Exchange Rate Changes On Cash And Cash Equivalents N/A 0.00 1,016,000.00 104,000.00
Increase (decrease) in cash and cash equivalents after effect of exchange rate changes N/A 232,000.00 81,789,000.00 -44,603,000.00
Cash and cash equivalents 6,483,000.00 6,715,000.00 89,520,000.00 45,021,000.00

Please note that some sums might not add up.

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Capital markets information

ISIN

NO0010998529

LEI

5493005YFWCZLN6Q2I28

Sector

Industrials

Industry Group

Transportation

Industry

Transportation Infrastructure

Sub-Industry

Marine Ports & Services

Listed Stock Exchange

Oslo Børs

Main Stock Exchange

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