Edda Wind ASA: Q2 2024 – Fleet and organisational growth is continuing

28 Aug 2024 07:00 CEST

Haugesund, 28 August 2024: Edda Wind ASA (the “Company” or the “Group”) today
publishes its quarterly results for Q2 2024. The Group delivered consolidated
revenue of EUR 14.9m (EUR 5.7m above Q2 2023) and consolidated EBITDA of EUR
0.6m (EUR 2.2m below Q2 2023).

Selected key developments in Q2 2024 and after balance sheet date:

• Revenue of EUR 14.9 million (EUR 5.7 million above Q2 2023)
• EBITDA of EUR 0.6 million (EUR 2.2 million below Q2 2023)
• Private placement of NOK 400 million successfully placed in June
• Incident on Goelo Enabler during commissioning causing damages to the gangway
and delayed commencement of operation
• Sudri Enabler secured a short term charter with DEME Offshore – commenced
operation in July 2024

Post Q2 2024 events:
• Commencement of operation for Goelo Enabler and Sudri Enabler

Edda Wind is experiencing a favourable demand outlook and the Group’s tender
activity is increasing. Following delivery and commencement of operation for
Goelo Enabler and Sudri Enabler, Edda Wind has seven vessels in operation. With
a fleet to count thirteen vessels, including vessels under construction, Edda
Wind is the leading C/SOV-operator in the market.

There is a limited number of available vessels, including vessels under
construction, in the coming years, and vessel demand is estimated to
significantly outgrow supply. Edda Wind’s contract backlog was EUR 424m at the
end of the quarter. This, combined with several newbuilds uncommitted at
delivery in a market with great demand for this type of vessels, positions Edda
Wind to capitalise on the expected growth in the quarters and years to come.

Presentation of the results:

Kenneth Walland (CEO) and Hermann H. Øverlie (CFO) will present the Q2 2024
results in a webcast at 08:30 CET today, 28 August 2024.

The presentation will be held in English and will be virtual. The presentation
can be followed through a live webcast from our website www.eddawind.com, or
https://channel.royalcast.com/landingpage/hegnarmedia/20240828_1/


ABOUT EDDA WIND

Edda Wind is a leading 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 offshore wind service vessels and
works closely with partners to develop new technologies to reduce emissions
without compromising operational capabilities or cost competitiveness.

The Company owns and operates three purpose-built offshore wind SOVs and four
CSOVs and has six dedicated offshore wind vessels under construction – all
CSOVs. All newbuild vessels are prepared for zero-emission utilising liquid
organic hydrogen carrier and/or methanol as an energy source.

Read more: www.eddawind.com

For further information, please contact:
Lars Stubhaug, VP Finance Edda Wind
Phone: +47 917 42 725
E-mail: lars.stubhaug@eddawind.com

Hermann H. Øverlie, CFO Edda Wind
Phone: +47 922 46 501
E-mail: hermann.overlie@eddawind.com

More information:
Access the news on Oslo Bors NewsWeb site

626384_Edda Wind - Q2 2024 - Presentation.pdf
626384_Edda Wind - Q2 2024 - Report.pdf