Havila Kystruten AS

Fourth quarter 2023 accounts - Seite 2

Results for the fourth quarter of 2023

•             Revenue totaled MNOK 249, of which MNOK 82 was revenue from the Ministry of Transport and Communications.

•             Operating costs consisted of MNOK 38 in cost of goods sold, MNOK 86 in salary costs, and MNOK 159 in other operating costs.

•             Operating profit before depreciation was MNOK - 33.

•             Depreciation was MNOK 54.

•             Net financial items were MNOK - 195.

•             Profit before tax was MNOK - 282.

Results for 2023

•             Revenue totaled MNOK 764, of which MNOK 216 was revenue from the Ministry of Transport and Communications.

•             Operating costs consisted of MNOK 106 in cost of goods sold, MNOK 282 in salary costs, and MNOK 556 in other operating costs. LNG, port costs, and sales and marketing are the largest cost items within other operating costs, but costs for legal advisors are also significant until August.

•             Operating profit before depreciation was MNOK - 180.

•             Depreciation was MNOK 137.

•             Net financial items were MNOK - 546, of which MNOK 35 is unrealized exchange rate loss on financing.

•             Profit before tax was MNOK - 863.

Balance sheet and liquidity as of 31.12.2023

•             Total fixed assets were MNOK 4,337, of which ships accounted for MNOK 4,274, intangible assets accounted for MNOK 38, right-of-use of leased equipment accounted for MNOK 20 and operating equipment accounted for MNOK 5.

•             Current assets were MNOK 425, of which cash and cash equivalents accounted for MNOK 150, of which MNOK 10 are restricted funds for tax deductions.

•             Net cash flow from operating activities was MNOK -566. Cash flow from investing activities was MNOK -682. Net cash flow from financing activities was MNOK 1,095.

•             The carrying amount of long-term debt was MNOK 3,124. Of the ship financing, MNOK 582 was short-term as of December 31, 2023. An agreement has now been made for refinancing so that the debt will again be long-term upon completion.

•             Total current liabilities were MNOK 1,161, of which the main items are trade payables, debt to credit institutions as mentioned above and advances from customers.

Employees

Havila Kystruten had a total of 481 permanent employees as of December 31, 2023, of which 438 were seafarers and 43 were in administration.

Contacts:
Chief Executive Officer Bent Martini, [phone]
Chief Financial Officer Arne Johan Dale, [phone]

Attachment

• HKYQ423