Edda Wind ASA
Edda Wind ASA
08/17/2022 | Press release | Distributed by Public on 08/16/2022 23:00
Edda Wind Q2 2022: Market fundamentals further improved
Tid17.08.2022, 05:00:00
MeldingsID568767
UtstederIDEWIND
InstrumentEWIND
MarkedOslo Børs
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Edda Wind Q2 2022: Market fundamentals further improved
Edda Wind has seven vessels under construction whereof one was ordered in Q1 2022, bringing the total fleet up to nine purpose-built vessels by mid 2024. All newbuilding orders are at firm and attractive prices with a delivery schedule well aligned with the growing demand.
Highlights Q2 2022:
- There is a strong demand growth, estimated 250+ vessels required by 2030, excluding China. This is far exceeding existing tonnage and order book of totally 49 vessels
- Further increases in newbuilding prices positive for valuation of existing Edda fleet
- Increasing rates as oil & gas tonnage exit the offshore wind market
- Fleet at 99,6% utilization in Q2 2022
Total revenue in Q2 2022 was EUR 6,89 mill while operating profit before depreciation was EUR 1,83 mill and profit after tax EUR 0,57 mill. Net interest-bearing debt was EUR 62,33 mill and equity EUR 184,32 mill (55,5%).
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 seven dedicated offshore wind vessels under construction - two offshore wind SOVs and five offshore wind CSOVs - with delivery from 2022. All newbuild vessels are prepared for zero-emission utilising liquid organic hydrogen carrier as an energy source
Highlights Q2 2022:
- There is a strong demand growth, estimated 250+ vessels required by 2030, excluding China. This is far exceeding existing tonnage and order book of totally 49 vessels
- Further increases in newbuilding prices positive for valuation of existing Edda fleet
- Increasing rates as oil & gas tonnage exit the offshore wind market
- Fleet at 99,6% utilization in Q2 2022
Total revenue in Q2 2022 was EUR 6,89 mill while operating profit before depreciation was EUR 1,83 mill and profit after tax EUR 0,57 mill. Net interest-bearing debt was EUR 62,33 mill and equity EUR 184,32 mill (55,5%).
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 seven dedicated offshore wind vessels under construction - two offshore wind SOVs and five offshore wind CSOVs - with delivery from 2022. All newbuild vessels are prepared for zero-emission utilising liquid organic hydrogen carrier as an energy source