Half-year results for Havila Kystruten

Havila Kystruten has published its quarterly financial report for the second quarter of 2022, and with that the half-year financial results for the shipping company are ready.
The results show that Havila Kystruten had a profit before tax of minus NOK 223 million. The income was a total of NOK 113 million, and the operating result before depreciation was minus NOK 107 million .

"We have had a challenging six months with delayed delivery of HAVILA CASTOR, and not least that HAVILA CAPELLA was out of service between 12 April and 28 June due to a lack of insurance linked to the sanctions against the company that financed the ship", says CEO Bent Martini in Havila Coastal Route.

"As a result of the uncertainty, we have experienced declining turnover in the first half of the year. We estimate that we have lost around NOK 80 million in income just during avila CAPELLA's period out of operation".

The company's next two ships, HAVILA POLARIS and HAVILA POLLUX, will put in the route along the Norwegian Coast no later than 29 December 2021 and 22 March 2023, respectively.

"Due to the energy crisis and the war in Ukraine, the costs we have for liquefied natural gas (LNG) are significantly higher than calculated when the agreement with the Ministry of Transport was signed".

"Nevertheless, we have faith that we will turn to a positive result when we are in full operation along the Norwegian coast, with predictability on the route. The booking numbers for 2023 so far is good", concludes Martini.

Sep 20 2022