New charter contracts and financial update

25 Oct 2024 13:05 CEST

Integrated Wind Solutions ASA (“IWS”), through its 74.62% owned subsidiary IWS
Fleet AS (“IWS Fleet”), is pleased to announce the signing of new charter
contracts for its Commissioning Service Operation Vessels (“CSOVs”) IWS
Windwalker and IWS Seawalker.

On 22 October, IWS Windwalker commenced a new charter contract with Siemens
Gamesa Renewable Energy. The charter has been agreed on the terms in the frame
agreement announced in February this year. With this charter, the work performed
by IWS Fleet under the frame agreement has started earlier than its intended
commencement date.

On 30 October, the naming ceremony of IWS Seawalker will take place in the Port
of Hanstholm, Denmark. IWS Seawalker will commence its first charter contract
with an existing client in the first week of November.

Financial update:
IWS will publish additional details in its Q3 2024 Financial Report on 26
November. The report will have record-high quarterly revenues driven by
1. IWS Fleet: Achieving high commercial uptime and strong fleet operability
2. IWS Services: Record revenues through a more effective backlog execution

Lars-Henrik Q. Røren, CEO of Integrated Wind Solutions ASA, says in a comment:

“We are glad to have secured additional charter contracts for the Skywalker CSOV
fleet, commencing immediately with two tier 1 clients. These new contracts and
the existing charter backlog will strengthen the financial visibility well into
2025. Overall, the demand for IWS Fleet’s Skywalker-class vessels remains
robust, with increasing inquiries for projects also extending beyond 2025.
Finally, we look forward to taking delivery of our fourth vessel, the IWS
Starwalker, later this quarter and publishing our Q3 Financial Report on 26
November, which will highlight record revenues for the Group.”


For investor relations queries, contact

Marius Magelie
Group CFO Integrated Wind Solutions
Phone: +47 920 27 419
E-mail: mm@integratedwind.com


For press queries, please contact

Lars-Henrik Røren
CEO Integrated Wind Solutions
Phone: +47 98 22 85 06
E-mail: lhr@integratedwind.com


About IWS:
Integrated Wind Solutions ASA offers a fleet of state-of-the-art service vessels
to the offshore wind industry combined with a suite of adhering services to
reduce the levelised cost of energy (“LCOE”) for offshore wind. The Company owns
74.62% of IWS Fleet AS, which has three Commissioning Service Operation Vessels
(“CSOVs”) delivered and three CSOVs under construction with delivery in 2024 and
2025. Furthermore, IWS owns the offshore wind supply-chain service company, IWS
Services A/S and the investment in the independent advisor, consultancy, data
intelligence and wind farm operator firm PEAK Wind Group.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site