Havila Kystruten AS

Earnings Release • Sep 23, 2021

Half-year report 2021

Half-year report 2021

General information

The interim accounts are prepared in accordance with IAS 34 Interim Financial Reporting and are unaudited. The report should be read together with the annual report for 2020, which can be found in the “Information Document” published at Euronext Growth Oslo regarding the listning of Havila Kystruten AS.

Summary

Havila Kystruten’s first official financial report listed on Euronext Growth 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 travellers. Confirmed bookings are in line with expectations from December and through the first and second quarters of 2022.

Result for 1st half of 2021

• Total operating revenues is contractual revenues from the Norwegian Ministry

of Transportation for the 1st quarter of 2021, of MNOK 36

• Total operating expenses consists of payroll expenses of MNOK 25,8 and other

operating expenses of MNOK 26,2.

• EBITDA is MNOK -16

• Depreciation is MNOK 1,6

• Net financial items is MNOK 9,3

• Profit before tax is MNOK -8,4

Balance and liquidity per 30/06/21

Investments in intangible assets and deferred tax assets was MNOK 27,9 as of 30/06/21, meanwhile vessels under constructions had a value of MNOK 1 724,8. In addition we had other financial fixed assets with a value of MNOK 362,6.

Total current assets had a value of MNOK 7 as of 30/06/21, where of bank deposits amounted to MNOK 1,9 (of this MNOK 1,6 restricted withholding tax).

Net cash flow from operations was MNOK 17,7 for the first half of 2021. Cash flow from investing activities was MNOK -749,5.

Total non-current liabilities recognized in the balance sheet was per 30/06/21 MNOK 1 065,6.

Total current liabilities amounted to MNOK 838,6 and is consisting of trade payable, value added taxes, current liabilities to the owners, incurred expenses and advances from customers.

Employees

Havila Voyages had per 30/06/21 311 employees which will sail the classic coastal route and 21 employees in the administration.

Contacts:

CEO Bent Martini +47 905 99 650

CFO Arne Johan Dale, +47 909 87 706