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GC Rieber Shipping: First quarter results 2023

Operating income from continuing operations was NOK 0.3 million in the first quarter of 2023, compared to NOK 0.6 million in the corresponding period of 2022. EBITDA from continuing operations was positive NOK 41.2 million, including recycled foreign currency translation differences of NOK 61.6 million, all related to the purchase of the remaining 50% of Polar Circle and the accompanying change of accounting principle. For comparison EBITDA in the first quarter of 2022 was negative NOK 53.3 million including loss from joint ventures of NOK 45.8 million. Net profit from continuing operations was NOK 19.5 million in the first quarter of 2023. Net profit from continuing operations was negative NOK 4.4 million in the corresponding period of 2022.

There were no profit/loss from discontinued operations in the first quarter of 2023, compared with a profit of NOK 272.2 million in the first quarter of 2022 including recycled foreign currency translation differences of NOK 279.9 million.

We are pleased to see the continuing positive development in the offshore wind market. Our Windkeeper newbuild project is progressing well and we look forward serving the offshore wind industry offering reduced emissions and improved operational performance, Einar Ytredal, CEO of GC Rieber Shipping comments.
Source: GC Rieber Shipping

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