📣 We have published our Q3 2024 results – A record quarter for the Group.
HIGHLIGHTS
👉🏼 Total revenue of EUR 17.0m, EBITDA of EUR 3.9m and net profit was EUR 2.6m.
👉🏼 IWS Fleet revenue of EUR 8.0m, with IWS Skywalker and IWS Windwalker in operation for the full quarter. IWS Seawalker was delivered from the yard on 23 August and started its first charter on 1 November. IWS Starwalker was delivered from the yard on 21 November and will arrive in Europe in January.
👉🏼 IWS Services revenue of EUR 8.8m, an increase of 16% from Q2, on improved EBIT margins.
👉🏼 IWS exercised its fixed-price option to increase its ownership in PEAK Wind from 30% to 49% on 18 September. PEAK Wind continues its strong growth with an increase in net revenue for Q3 by 29% compared with Q3 2023.
👉🏼 IWS Fleet signed the loan agreement for an expanded Green Senior Secured Credit Facility of up to EUR 186.9m, securing debt financing for all six CSOVs.
Our CEO Lars-Henrik Qvernheim Røren commented: “We are proud that IWS Fleet continues to show excellent capabilities, also recognised by our clients. We are encouraged that we receive strong interest from current and new clients for our remaining newbuildings. Furthermore, we are pleased that IWS Services continued improving in Q3 in line with expectations. We have increased our ownership in PEAK Wind and are working closer with our co-owners to explore further growth initiatives. Overall, IWS is on a solid business- and financial track.”
Swipe through the attached presentation for the full overview ✨
