Edda Wind has published its quarterly results for Q1 2025. The Group delivered consolidated revenue of EUR 19.5m (EUR 2.5m above Q1 2024) and consolidated EBITDA of EUR 6.9m (EUR 6.4m above Q1 2024 excl. gain on sale of assets in Q1 2024).
Selected key developments in Q1 2025:
- Revenue of EUR 19.5 million (EUR 2.5 million above Q1 2024)
- EBITDA of EUR 6.9 million (EUR 6.4 million above Q1 2024 excl. gain on sale of assets in Q1 2024)
- Solid operational utilisation Subsequent events:
- Commencement of new charter contracts for Nordri Enabler, Sudri Enabler and Vestri Enabler
- Sale of Mistral Enabler completed
- • Launch of unconditional mandatory cash offer to acquire all outstanding shares in Edda Wind ASA
In Q1 2025 Edda Wind has continued to capitalize on the lessons learned during 2024 and sees operational benefits of having vessel management inhouse. For Q1 2025 Edda Wind achieved a technical utilization rate of 99%.
Edda Wind continues to observe a consistent rise in tendering activity and day rates. For the remaining available days in 2025, approx. 85% is already booked, with recent contracts indicating stable and strong market conditions. Year to date, Edda Wind has also broadened its client universe represented by the last three charter contracts which have been entered into with three new clients.
The sale of Mistral Enabler was announced in Q1 2025. This aligns and homogenizes the Company’s fleet of modern and flexible CSOVs/SOVs, all prepared for zero-emission using liquid organic hydrogen carrier and/or methanol as energy sources. The sale of Mistral Enabler follows the earlier sale of its sister vessel, Edda Passat, in March 2024. The sale of Edda Mistral was completed in mid-April.
Source: Edda Wind
