Edda Wind ASA: Q1 2025 – A good start to the new year with solid operational utilisation

21 May 2025 07:00 CEST

Haugesund, 21 May 2025: Edda Wind ASA (the “Company” or the “Group”) today
publishes its quarterly results for Q1 2025. The Group delivered consolidated
revenue of EUR 19.5m (EUR 2.5m above Q1 2024) and consolidated EBITDA of EUR
6.9m (EUR 6.4m above Q1 2024 excl. gain on sale of assets in Q1 2024).

Selected key developments in Q1 2025:

• Revenue of EUR 19.5 million (EUR 2.5 million above Q1 2024)
• EBITDA of EUR 6.9 million (EUR 6.4 million above Q1 2024 excl. gain on sale of
assets in Q1 2024)
• Solid operational utilisation

Subsequent events:

• Commencement of new charter contracts for Nordri Enabler, Sudri Enabler and
Vestri Enabler
• Sale of Mistral Enabler completed
• Launch of unconditional mandatory cash offer to acquire all outstanding shares
in Edda Wind ASA


In Q1 2025 Edda Wind has continued to capitalize on the lessons learned during
2024 and sees operational benefits of having vessel management inhouse. For Q1
2025 Edda Wind achieved a technical utilization rate of 99%.

Edda Wind continues to observe a consistent rise in tendering activity and day
rates. For the remaining available days in 2025, approx. 85% is already booked,
with recent contracts indicating stable and strong market conditions. Year to
date, Edda Wind has also broadened its client universe represented by the last
three charter contracts which have been entered into with three new clients.

The sale of Mistral Enabler was announced in Q1 2025. This aligns and
homogenizes the Company’s fleet of modern and flexible CSOVs/SOVs, all prepared
for zero-emission using liquid organic hydrogen carrier and/or methanol as
energy sources. The sale of Mistral Enabler follows the earlier sale of its
sister vessel, Edda Passat, in March 2024. The sale of Edda Mistral was
completed in mid-April.


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 two purpose-built offshore wind SOVs and five
CSOVs and has five 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, CEO Edda Wind
Phone: +47 922 46 501
E-mail: hermann.overlie@eddawind.com

More information:
Access the news on Oslo Bors NewsWeb site

646965_Edda Wind - Q1 2025 - Report.pdf