Stable operation and robust market outlook in third quarter

15 Nov 2022 07:30 CET

Edda Wind operates two owned and one chartered vessel while two more vessels are
delivered from yard and are in the process of installing gangway systems to
become ready for operation in January 2023. Further three vessels will become
ready for operating during 2023. The offshore wind market is developing
positively at the back of the need for energy transition and energy security and
charter rates are seen to increase as oil and gas tonnage exit offshore wind.

Highlights and main events Q3 2022:

•Stable operation of three vessels
•Vessel construction progressing satisfactory
•Increased rates causing increased cost in short-term rental of frontrunner in
Q3
•Further strengthening of offshore wind market
•Compensation from Colombo and one-time effect for project cost related to same
impacting gross figures with limited net effect in Q3

Edda Wind reports income of EUR 7,4 mill (EUR 6,7 mill), EBITDA of EUR 1,4 mill
(EUR 1,7 mill) and profit before tax of EUR 0,4 mill (EUR 0,4 mill). Net
interest-bearing debt was EUR 77,1 million and equity ratio 54,4%

Subsequent to Q3 2022 Edda Wind has placed additionally one newbuilding order at
Gondan and extended the contract with Ørsted for Edda Passat by 7 months.

For further information, please contact:

Kenneth Walland, CEO Edda Wind
Phone: +47 916 93 418
E-mail: kenneth.walland@eddawind.com

Tom Johan Austrheim, CFO Edda Wind
Phone: +47 982 09 873
E-mail: tom.johan.austrheim@eddawind.com

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 eight dedicated offshore wind
vessels under construction – two offshore wind SOVs and six offshore wind CSOVs
– with delivery from 2022. All newbuild vessels are prepared for zero-emission
utilising liquid organic hydrogen carrier as an energy source. Read more :
www.eddawind.com

More information:
Access the news on Oslo Bors NewsWeb site

575735_221114 Edda Wind - Q3 22 Presentation Final.pdf
575735_Edda Wind Q3 Report 2022 Final.pdf