Operating income from continuing operations was NOK 1.1 million in the third quarter of 2022, compared to NOK 0.7 million in the corresponding period of 2021. EBITDA from continuing operations were negative NOK 17.7 million, including loss from joint ventures of NOK 14.5 million. EBITDA in the third quarter of 2021 were NOK 189.3 million for comparison, including gain from sale of shares in Shearwater in July 2021 of NOK 186.7 million. Net profit from continuing operations was NOK 16.5 million in the third quarter of 2022, including currency gains of NOK 32.2 million. Net loss from continuing operations was NOK 197.0 million in the corresponding period of 2021.

Following the sale of Polar Onyx in February 2022, the Subsea & Renewables segment is presented as discontinued operations in the financial reporting. Including profit from discontinuing operations, GC Rieber Shipping had a net profit of NOK 19.8 million in the third quarter of 2022 and net profit of NOK 180.1 million in the third quarter of 2021.

“Following the strategic decision to become a pure shipowner and project-house, we are proud to have launched WindKeeper as our first project. Since launch, our innovative and cost- and energy efficient vessels have seen considerable interest, confirming our believe in WindKeeper as a substantial and valuable player in the offshore wind industry in the years to come”, Einar Ytredal, CEO of GC Rieber Shipping commented.

“With further development of WindKeeper’s Charge2Work, the electric zero emission alternative, GC Rieber Shipping continues to target profitable and sustainable maritime projects, reducing environmental footprints.”
Source: GC Rieber Shipping