Stable operation and improved offshore wind market in fourth quarter

24 Feb 2023 07:30 CET

Edda Wind operates two owned and one chartered vessel, while three more vessels
are delivered from yard and are in the process of installing gangway systems.
Two vessels are expected to commence long term contracts in March 2023 and
further three vessels are expected to become ready for operations later in 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 Q4 2022:

• Stable operation of three vessels with near full utilisation
• Commissioning of gangway systems near complete for Edda Breeze and Edda Brint
• Further strengthening of offshore wind market and rates

Edda Wind reports income of EUR 7,3 mill (EUR 6,8 mill), EBITDA of EUR 1,4 mill
(EUR 0,4 mill) and profit before tax of EUR 0,2 mill (EUR 0,3 mill). Net
interest-bearing debt was EUR 107,8 million and equity ratio 52,3%

Subsequent to Q4 2022 Edda Boreas has been delivered from the yard and three
CSOVs under construction have been financed by a long-term green loan facility
of EUR 100-120 mill.

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
. 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

583461_Edda Wind Q4 2022 Report Final.pdf