Hampiðjan (HAMP) Q4 2023 earnings summary

Executive summary

• 2023 results included Mørenot from 1 February; revenue reached €322.1m, EBITDA €37.5m and net profit €11.7m.

• Integration work reorganized Mørenot into three main businesses; interest-bearing debt was reduced by more than half and longer-term financing secured.

Financial highlights

• Revenue was €322.124m versus €193.759m in 2022; operating profit was €23.467m versus €21.064m.

• Net profit was €11.746m versus €14.325m; profit attributable to parent shareholders was €10.422m versus €12.622m.

• EBITDA was €37.547m versus €28.726m; basic and diluted EPS was €2.02 versus €2.93.

• Operating cash flow was €19.140m; investing cash outflow was €18.366m and financing cash inflow was €32.679m.

Outlook and guidance

• A new 4,800 m² net workshop in Skagen was under construction, with opening planned for summer 2024.

• The final phase of facilities work for aquaculture services in Norðskáli, Faroe Islands, was nearing completion.