Havila Kystruten AS

Earnings Release • Dec 6, 2021

Third quarter 2021 accounts

Third quarter 2021 accounts

Summary

Havila Kystruten’s quarterly report shows a company at full speed towards start-up, with focus on completing the vessels, building up our organization and preparing for the first sailing on the worlds most beautiful coastal voyage.

Bookings

Havila Kystruten is experiencing great interest from travelers. Confirmed bookings are in line with expectations from December and through the first and second quarters of 2022.

Result for 3rd quarter of 2021

Total operating expenses consists of payroll expenses of MNOK 15.1 and other operating expenses of MNOK 14.4.

EBITDA is MNOK -29.5

Depreciation is MNOK 0.87

Net financial items is MNOK -40.1

Profit before tax is MNOK -70.5

Balance and liquidity per 30/09/21

Investments in intangible assets and deferred tax assets was MNOK 44.2 as of 30/09/21, meanwhile vessels under constructions had a value of MNOK 1 978.3.

Total current assets had a value of MNOK 727.9 as of 30/09/21, where of bank deposits amounted to MNOK 364.7 (of this MNOK 1.5 restricted withholding tax).

Net cash flow from operations was MNOK -45 as of 30/09/21. Cash flow from investing activities was MNOK -1 004.5 as of 30/09/21. Net cash flow from financing activities amounted to MNOK 1 413.2.

Total non-current liabilities recognized in the balance sheet was per 30/09/21 MNOK 1 314.3.

Total current liabilities amounted to MNOK 401.3 as of 30/09/21 consisting of trade payable, value added taxes, current liabilities to the owners, incurred expenses and advances from customers.

Employees

Havila Voyages had per 30/09/21 291 employees which will sail the classic coastal route and 22 employees in the administration.

Contacts:

CEO Bent Martini, +47 905 99 650

CFO Arne Johan Dale, +47 909 87 706