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Visual31 Oct 2025
Three decades of Rolls-Royce
Edda Wind (EWIND) investor relations material
Edda Wind Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary21 May, 2025
Executive summary
Achieved technical utilization rate of 99% in Q1 2025, reflecting operational improvements from in-house vessel management.
Revenue increased to EUR 19.5 million, up EUR 2.5 million year-over-year, driven by new vessel operations and higher utilization.
Sale of Mistral Enabler completed, aligning fleet for zero-emission readiness; gain from sale expected in Q2 2025.
85% of available days for 2025 already booked, with new contracts signed with three new clients.
Unconditional mandatory cash offer announced by largest shareholders, with intent to de-list from Oslo Stock Exchange.
Financial highlights
Revenue of EUR 19.5 million in Q1 2025, up from EUR 16.99 million in Q1 2024.
EBITDA of EUR 6.9 million, nearly flat year-over-year but up EUR 6.4 million excluding prior year gain on asset sale.
Profit before tax of EUR 1.6 million, down from EUR 3.5 million in Q1 2024.
Cash and cash equivalents at EUR 38.5 million, up from EUR 33.4 million at year-end 2024.
Total investment in vessels and newbuildings at EUR 623.5 million as of March 31, 2025.
Outlook and guidance
Offshore wind market expected to grow significantly through 2030, with strong demand for C/SOVs.
Favorable supply-demand balance projected despite new vessel deliveries; newbuilding prices rising.
Edda Wind sees increased tendering activity and expects continued growth opportunities.
US offshore wind market uncertainty has limited impact due to no current or planned US operations.
Five new CSOVs under construction, with deliveries scheduled through Q1 2026.
How will US offshore wind challenges impact Edda?
What's driving the increase in operating expenses?
What's the expected gain from Mistral Enabler sale?
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Frequently asked questions
Edda Wind ASA provides specialized maritime services to the global offshore wind industry. The company develops, owns, and operates Service Operation Vessels (SOVs) and Commissioning Service Operation Vessels (CSOVs) that support the commissioning and maintenance of offshore wind farms. These vessels are designed to accommodate wind turbine technicians and ensure the smooth operation of wind farms, including both fixed and floating installations. Edda Wind operates several vessels and has additional ships under construction to expand its fleet. Edda Wind is headquartered in Haugesund, Norway, and its shares are listed on the Oslo Stock Exchange.
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