May 27, 2021
- -8% Revenue (NOK 691 million) because of the phasing out of one ferry contract and lower revenue in the Catering segment due to the pandemic.
- +2% EBITDA (NOK 198 million)
- EBITDA margin increasing to 29% from 26% The improvement in margin reflects lower operating costs for the electric vessels.
- Investments amounted to NOK 124 million in the first quarter.
- Net interest-bearing debt (NIBD) stood at NOK 5,400 million as of 31 March, a decline of NOK 103 million from the close of 2020.
- Fjord1’s long-term contract portfolio, is worth NOK 21.2 billion
Outlook
Fjord1 is confident that there will continue to be a strong demand for safe, environmentally-friendly and reliable transport in coastal regions in the future. Fjord1 assesses new tender opportunities in the Norwegian market on an ongoing basis, as well as opportunities outside of Norway.
The company expects more moderate revenue growth in 2021, with cost improvements continuing to support operating margins.
