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Edda Wind AS — Earnings Release 2022
May 3, 2022
3585_rns_2022-05-03_e769eb5b-3f8a-47bf-8f58-f06cd89cc4bf.html
Earnings Release
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First quarter 2022 : Edda Wind expands in a growing market
First quarter 2022 : Edda Wind expands in a growing market
Edda Wind has nine vessels under construction whereof three were ordered in Q1 2022, bringing the total fleet up to eleven purpose-built vessels. All newbuilding orders are at firm and attractive prices with a delivery schedule well aligned with the growing demand.
Highlights Q1 2022:
- There is a strong demand growth, estimated 200 vessels required by 2030, excluding China. This is far exceeding existing tonnage and order book of totally 44 vessels
- Increasing rates as oil & gas tonnage exit the offshore wind market
- Edda Wind had 55 % increase in revenue versus Q1 2021
- Edda Wind had 100 % utilization with no unscheduled downtime in Q1 2022
Total revenue in Q1 2022 was EUR 6,77 mill while operating profit before depreciation was EUR 1,9 mill and profit after tax EUR 0,8 mill. Net interest bearing debt was EUR 48 mill and equity EUR 184,3 mill (59,3%).
The first quarter presentation can be seen at : Investor Relations - Edda Wind
Read more a www.eddawind.com
For further queries, please contact:
Kenneth Walland, CEO Edda Wind
Phone: +47 916 93 418
E-mail: [email protected]
Tom Johan Austrheim, CFO Edda Wind
Phone: +47 982 09 873
E-mail: [email protected]
ABOUT EDDA WIND
Edda Wind is a leading pure play offshore wind service company headquartered in Haugesund, Norway. The Company develops, builds, owns and operates purpose-built Service Operation Vessels (“SOV”) and Commissioning Service Operation Vessels (“CSOV”) for offshore wind farms worldwide. Edda Wind is creating the next generation of offshore wind service vessels and works closely with partners to develop new technologies to reduce emissions without compromising operational capabilities or cost competitiveness. As of today, the Company owns and operates two purpose-built offshore wind SOVs, operates one chartered frontrunner, and has nine dedicated offshore wind vessels under construction – two offshore wind SOVs and seven offshore wind CSOVs – with delivery from 2022. All newbuild vessels are prepared for zero-emission utilising liquid organic hydrogen carrier as an energy source.