oFjord1 has operated in a safe and responsible manner throughout the Covid-19 pandemic, protecting the safety and security of its employees, customers and suppliers while fulfilling its responsibilities as a provider of critical transport infrastructure in coastalNorway . o Revenue in the second quarter amounted toNOK 708 million , a decrease of 6 per cent from the same quarter last year. The reduction is attributable mainly to the phasing out of the Molde-Vestnes contract. o EBITDA in the second quarter wasNOK 190 million , down fromNOK 245 million in the same period last year. The EBITDA margin declined to 27 per cent from 33 per cent in the same quarter last year, reflecting lower revenue and higher maintenance cost in Ferry, and continued weak results in the Tourism segment due to international Covid-19 travel restrictions. o Investments amounted toNOK 81 million in the second quarter, and net interest-bearing debt (NIBD) declined toNOK 5,206 million per 30 June. oFjord1's long-term contract portfolio, worthNOK 22.7 billion , together with our long-term ambitions for the Tourism segment provide a solid base for further development of the company. Revenue for the first half year wasNOK 1,399 million (1,503), and the EBITDANOK 387 million (439). "Operations were stable throughout the first half year, although with higher maintenance costs in Ferries and a Tourism segment which continues to be affected by international Covid-19 travel restrictions. Investments are coming down from the peak in 2020, even though we continue to move forward with our electrification projects. We have reduced net debt by more thanNOK 600 million over the past year and will use our cash flow from operations and proceeds from sale of infrastructure assets to reduce interest-bearing debt further in the second half of the year," says CEODagfinn Neteland inFjord1 . OutlookFjord1 is confident that there will continue to be a strong demand for safe, environmentally friendly and reliable transport in coastal regions in the future and is assessing new tender opportunities both in the Norwegian and in international markets.Fjord1's strong contract portfolio is worthNOK 22,7 billion through 2034, excluding options and index regulation, which offers a solid platform for profitable growth.Fjord1 expects a stable outlook for the remainder of 2021, while allowing for the seasonal variations between the two remaining quarters of the year.Fjord1 has a strong operational cash flow, and combined with lower investments and proceeds from sale of infrastructure assets this will be used to reduce interest-bearing debt further in the second half of the year. Please find enclosed the interim report for the second quarter and first half 2021. The material is also available on https://www.fjord1.no/eng/Investor-Relations/Annual-reports-and-press-releases/R eports/Reports-2021. Contacts CEODagfinn Neteland ,Fjord1 ASA dagfinn.neteland@fjord1.no +47 913 71 071 or CFOAnne-Mari Sundal Bøe ,Fjord1 ASA anne.mari.sundal.boe@fjord1.no +47 902 78 906 AboutFjord1 Fjord1 aims to be the safest and most attractive provider of environmentally friendly and reliable transport for customers, clients and partners.Fjord1 is a leading player in the Norwegian ferry market, with close to 80 ferries. The company also operates passenger boat services and has interests in the catering and tourism industries. More information at www.fjord1.no
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