In This Article:
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Operating Revenues: NOK3.6 billion, up NOK400 million from the same quarter last year.
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EBITDA: Improved by NOK138 million, from NOK800 million to NOK938 million.
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Net Result After Tax: Doubled from NOK172 million to NOK350 million.
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Equity Ratio: Close to 76%.
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Cash Position: NOK2 billion at the end of the third quarter.
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Renewables EBITDA: Increased by NOK20 million to NOK263 million.
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Cruise EBITDA: Improved from NOK213 million to NOK255 million.
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Media Company NHST EBITDA: NOK57 million, up from NOK4 million the same quarter last year.
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Bond Loan: Redeemed NOK800 million and issued a new bond loan of NOK950 million.
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Net Finance Loss: NOK165 million.
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Earnings Before Tax: NOK438 million, an improvement of NOK154 million compared to last year.
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Cash Position of 100% Owned Entities: NOK4.8 billion at the end of the quarter.
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External Debt of 100% Owned Entities: NOK2.6 billion.
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Net Cash Position of 100% Owned Entities: NOK2.2 billion.
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Wind Service Segment Cash Position: NOK1.7 billion.
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Cruise Cash Position: NOK738 million.
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Occupancy Rate for Cruise: 77% in the peak season.
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Forward Bookings for Cruise: 15% higher than the same period last year.
Release Date: October 25, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Bonheur ASA (FRA:V7P) reported an increase in operating revenues to NOK3.6 billion, up NOK400 million compared to the same quarter last year.
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The company achieved a significant EBITDA improvement, rising from NOK800 million to NOK938 million.
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Net result after tax doubled from NOK172 million to NOK350 million, indicating strong financial performance.
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The company won two power contracts in the CFD allocation round six, enabling the construction of Crystal Rig 4 and potentially Windy Standard 3.
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Bonheur ASA (FRA:V7P) has a strong equity ratio of close to 76% and a cash position of NOK2 billion at the end of the third quarter.
Negative Points
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Asset utilization was not at 100%, with one major wind farm out of operation due to a fire and one vessel in the yard, affecting overall performance.
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Cruise line utilization remains low at 78%, which is below expectations for the peak season.
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The company faced significant unrealized losses on financial instruments, impacting net finance negatively.
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Mid Hill wind farm was out of production for the full quarter due to a transformer failure, affecting power generation.
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The Codling Wind Park project faces uncertainty in the consent determination period, with no specific deadline for government review.